Wisdom Wednesday: Opportunity & Time Cost - Something To Think About ⏳

This morning I finished a book called 'The Paradox Of Choice' by Barry Schwartz.

This great read, which I highly recommend, is a window into the idea that more is less (when it comes to decisions) and how good enough is better than perfect.

Why?

Opportunity cost and time cost (and many other factors covered in the book).

The humming and harring you do when you're deciding on a decision is potentially wasting time you could spend doing other things or pursuing other opportunities that you enjoy.

A classic example of this is if you were self employed and earn a hourly wage of approximately $50 / hour and wanted to buy a new road bike.

If you spend five hours trying to decide what road bike to buy that would be perfect for you, that will cost you $250 and five hours of your time.

However, if you spend one hour to get it and tick the simple boxes of it having two wheels, being black and having a bell and lights, you've now saved yourself $200 and four hours that you can spend working to make more money from your business, or two tennis games with your kids, or an extra four hours of sleep you need to catch up on.

There's endless things you can do with that time but the primary principle I want you to understand is that if you can speed up how you make decisions, you can spend more time doing what you want.

The longer you take to use a Team Brock Ashby program, the more time you waste training the in the gym with no direction.

Sure, there's a cost that I'm asking from you but the cost I am asking for is much less than the cost of wasting time and getting frustrated with your results.

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