Opportunity Cost

When making decisions I really believe people, in general, need to give a LOT more thought to the opportunity cost of these decisions.

Should their time be spent doing something else?

Should their money be used on something else?

It’s a simple concept but one that is way too neglected.

Too often we don’t think about what we are giving up and instead just think about the here and now.

Think about the opportunity costs when making decisions (but be careful of analysis paralysis)

Have a great day!

Lawrence

Comments are closed.