The title explains itself, I think.
Opportunity cost is a concept people use to make you think about the cost of taking a course of action.
It’s important because, as you grow your business, you have a tendency to resist change and stay in your comfort zone, doing things yourself and even spending more time on the tools than you should.
And you’re likely to think that this isn’t costing you anything or even that it is saving you money.
(Or that dreaded internal thought, “I might as well do it myself.”)
So you choose to do one thing – spend a day on the tools; drive a piece of machinery; do some admin; – and you think that the cost is free but it isn’t.
You can only do one thing at a time, right?
Even multitasking has been proven to be a lie – it’s just doing one thing for a bit then task switching to another and back again.
We can only do one thing at once.
So, while you’re doing that thing, you’re unable to do another thing.
Importantly, you’re costing yourself the opportunity to do something more useful for your business than whatever it is you chose to do.
Now, I nominated some jobs I see a lot of my clients doing and finding it hard to give up (like working on the tools) and I feel pretty strongly that there are things you should be working on rather than that stuff.
If you’re my client, we wrote it into your strategy so you know what you should be making time for.
If you’re not, maybe you should be and if I can’t persuade you to book a call to talk about that, ask for the ‘7 Systems’ Guide and read about what I think you should be working on.
Stop costing yourself the opportunity to grow or improve your business by being busy doing the same old s#!t you’ve always done.
Comment ‘Book A Call’ or ‘Gimme The Guide’.