Choices and Missed Opportunities

In business, when calculating the return on investment of various investment choices, it is important to consider something called “opportunity cost,” also referred to the “cost of the forgone alternative.” This means that in addition to measuring the value of the existing course of action, we must also consider the benefits that we will forego from those initiatives we choose not to undertake as a result.

While this is a routine concept in investment analysis, it is just as important throughout our professional lives and perhaps even more so in our personal lives, although not applied with the same predictability. Sometimes because we don’t believe we have a choice, sometimes because change is difficult, or sometimes because the new course may be uncertain. As a result, we might be inclined to simply maintain the status quo and not fully explore other options – so grooved into our current path that we do nothing.

It is important to remember however, that doing nothing is a choice – “not to decide is to decide.” Stuck with what we believe are “have tos,” we divert our energy to obligations rather than opportunities. Unfortunately, doors open and doors close, so while we are striving to keep our lives stable, we are missing the chance to have the lives that fill our dreams. Professionally, we run the risk of missing opportunities that might lead us to an outstanding career or lead our organizations to greatness. Personally, we run the risk of missing opportunities that create personal happiness and ensure that we do not under-live our lives. It sounds tragic because it is.

This is certainly not a new concept. As Robert Frost described 92 years ago in “The Road Not Taken,”

Two roads diverged in a wood, and I--I took the one less traveled by,And that has made all the difference.

So, before you choose to do nothing, you should commit to explore other paths, to not under-live your life, to find your authentic self, and make your dreams your reality. That will make all the difference and will take your life from tragic to magic.