I wish I learned about opportunity cost sooner. It should be a required course in school! The basic principle is the loss of of what could have been if you went with the next best choice.
An example is if you accept a part time job with weird hours, and then later your dream company offers you a job. Now you can’t work the better job because you’re already locked in to the other.
Thinking with opportunity cost in mind broadens the picture. That holistic view can help you be judicious when signing on to anything. Time, energy, and attention are finite. It is a shame that such an immutable fact is sorely underemphasized in [American] society.
At the exact moment that you are reading this post, you are not reading some other post. Thank you by the way, I deeply value your attention!
Every choice you make in the present implicitly means that you are not making a different and potentially conflicting choice. When introducing newness, we have to release any outdated understanding of the world or even ourselves.
For instance, I would love to compress the time I spend on my 9 to 5 job. Initially, I thought the 40 hour week was unchangeable because I need income to survive and fund my entrepreneurial ventures. I planned to work “5 to 9” on my projects until I could make enough income to replace my job.
However, I came to realize I could negotiate less work hours with the same salary, so long as I still produced the same level of outcomes. That level of thinking is the kind of flexibility and creativity necessary to actualize your goals.
So what are you willing to give up or shift to bring something new into your life?
It may seem on the surface that you do not have any empty space and nothing left to cut. Look deeper and be creative, you’ll find that there are pockets available.
IN CASE YOU MISSED IT:
Episode 47: How to Leverage Your Network – 3X Grammy Award Winner Devo Harris comes on the pod to talk about his experience working with Kanye and John Legend. He discusses how he built an amazing network, before he had all his success.
Episode 45: How To Sell High Ticket Offerings With Ease -Ashley had to start her first business straight out of college because she no job would compensate her enough for the value she could provide. PLUS she reveals her entire process for converting and closing clients on high ticket offers and having consistent 5 figure months.