When we say "yes" to something -- because we want to do it; because we can't say no; because it feels great to be the person who rescues the situation; or because it is a good opportunity that others wouldn't pass up--we often don't take the time to consider what we're saying "no" to at the same time. Every yes is linked to one -- and even more no's. In the business world, they call it opportunity cost. The time, money, or effort you spend saying yes to one thing -- means you don't have time, money, or effort to do something else.
Make the no's visible. Before you say yes, consider what you may be saying no to -- and often that's time -- time with your family, time to write that book or pursue that new project, time to develop a new client, ship a new project, just be on your own. Or money to fund your retirement account, invest in your entrepreneurial dream, send a kid to college, take that dream vacation.
Thursday, September 29, 2011
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