The High Cost of Doing Nothing

Cost is sometimes a difficult term to define. Here, we are not simply discussing cost as it relates to selling price, but rather opportunity cost. The web site, "Mentors, Ventures and Plans" defines opportunity cost as "The loss of the next best alternative whenever a decision is made involving two or more options". "Investing in Options" defines it as "Choosing the best alternative means that you can't choose the next-best alternative. Opportunity cost is the next-best alternative that must be sacrificed in order to get something else you want. Opportunity cost can be thought of as the road not taken." Inactivity, or doing nothing, is usually the highest price paid and is often associated with great opportunity cost. Inaction is usually the worst decision one can make, made from a base of fear.

Many of us freeze when facing decisions. For some reason, decision making becomes complex, paralyzing and even painful for many people. It should not be this way. Making a decision is simply the act of choosing between alternatives. You must learn to weigh the implications of each possible decision and choose the outcome that is best for you and all others involved. For example, when your telephone bill comes due, you may choose to pay it or not. There are real obvious consequences for both actions. The situation becomes more complex however, when our human emotions enter the picture. For instance; you are offered a new job and must decide to leave your current position and move your family to a new location, hundreds of miles away..

What we often fail to realize, is that delaying important decisions or simply not making a decision at all, are actions that often impact us with the highest opportunity costs and worst case scenarios. Inactivity, or the lack of a decision, is actually a decision made, although one seldom made in our best interests. In this case, we unfortunately transfer over control of our lives to external forces and circumstances. We are now positioned to be at the mercy and decision-making of others. This is not your best scenario. There are often unusually high costs associated with doing nothing.

Decision making is actually a skill set that can be learned and refined. Like all skills, entering into a new area as a novice requires practice and application in order to improve. Keep in mind that you will indeed improve! Start small, with less important decisions involving less than crucial outcomes and gradually make more decisions on matters of greater importance. Soon, you will have few if any issues with making decisions. Learn to start small and work your way up, gradually extending your comfort zone in this area. A by-product of learning these new skills is that your confidence will surely improve as well.

Decision making need not be frightening. Think of it as a process that is your own, shedding any external pressure that others may be applying. Take your time, get your facts and choose the outcome that works best for you. Do not allow yourself to fall victim to the high cost of doing nothing.

Daniel Sitter is the author of the popular, award-winning e-book, Learning For Profit. Designed for busy people, this new book teaches simple, step-by-step accelerated learning skills, demonstrating exactly how to learn anything faster than ever before. Learning For Profit is currently available from the author's web site http://www.learningforprofit.com/ and a variety of online software and book merchants. Mr. Sitter is a contributing writer for several online and traditional publications. His expertise includes sales, marketing, self-improvement and general business topics.

In The News:

Teen's recipe for success  New Straits Times Online
Justice for Success  New York Post
Social Anxiety and Success  Harvard Business Review

Set Your Mind For Success

Did you know you can literally program your mind so... Read More

Do You Need A Change Of Mind?

Napoleon Hill, the famous inspirational writer, once met a reader... Read More

A Pyramid of Success

Have you ever wondered what the difference is between a... Read More

Persistence

One of the keys to being successful in anything you... Read More

Is Money Everything?

Money will buy me a house, but not a home,... Read More

The Bulging Right Pocket

It was one of the worst periods of time in... Read More

I Would Give Anything To ?

A couple days ago I was listening to a CD... Read More

Creating Your Own Success Support System

People who are on the same journey tend to band... Read More

How Important is Your Lemonade Stand?

When my neighbor's child was about 8, he decided that... Read More

Quantum Success Thinking

It sounds simple- right? You are where you THINK you... Read More

10 Questions: Do You Have What It Takes?

Do you have what it takes to be really successful?Have... Read More

The Secret Key (Part 1): An Overwhelming Purpose

Imagine that you are in a dimly-lit room. You don't... Read More

Three Key Behaviors That Determine Our Success

Success is a journey and along the way we need... Read More

How to Succeed and Never Fail

So, how can you succeed online without ever experiencing the... Read More

Helpful Tips to Overcome Procrastination

Many among us, on many instances, have the habit of... Read More

Dare to Dream Again

Do you remember when you were a child and no... Read More

Reach Your Goals - Progressive Goal Party

Hold a "progressive" goal party If you have a group... Read More

High Energy Performance

One of the hallmarks of all successful and high achieving... Read More

So What is Success Anyway?

Well I'll tell you what it's not. Even thought many... Read More

Belief Helps You Succeed But Can It Win A Boat Race?

On March 27th 2005, Oxford won the annual boat race... Read More

8 Categories to Instantly Organize Your Success Strategy

You're enjoying a perfectly shallow conversation with a good friend... Read More

Self Discipline And Business Success

In his audio e-book, 10 Habits to Swell Your Bank... Read More

Life Lesson--Be, Do, Have

This revelation hit me the other day while I was... Read More

Building the Minds Framework for Success

Man is the most advanced being on this earth. We... Read More

Work Smarter Not Harder

When you are working over time but yet you do... Read More