Last week, I wrote about the importance of not trying to force new wine into old wineskins. An important step in that idea is to be aware of the opportunities in front of you.
If you recognize an opportunity in front of you to utilize your new learning or experience, will you step into it? What will you lose if you do not step into it?
One of the first concepts I taught in High School Economics is opportunity cost. Opportunity Cost is defined as “the loss of potential gain from other alternatives when one alternative is chosen.”
There is an opportunity cost to not moving into the possibilities in front of you. There are costs and rewards for every decision we make. A really helpful process for considering options is evaluating the cost and reward of the different options. It is helpful to write this out or talk through it with a coach that does not have a stake in your decision.
| Cost | Reward | Timing | |
| Option A (Status Quo) | |||
| Option B (Opportunity #1) | |||
| Option C (Opportunity #2) |
An added dimension to the conversation is about timing. What are the cost/rewards to taking action or not today, this week, or this month? Sometimes wait and learn is an important step toward taking action. It cannot always be jump in with both feet regardless of preparation. Having a coach break down the steps and make a plan is incredibly helpful.
Perhaps your opportunity is to start a nonprofit organization. You know there is an immediate need for what you want to do, but you cannot start it tomorrow. There are things, however, you can do tomorrow to prepare and make clear the path to get to that goal. The first step is becoming clear about the opportunity (and aware of the cost of not seizing that opportunity).
Even once you decide which opportunity to pursue, this evaluation process is needed. For example, when I was running a startup nonprofit, every week I found myself evaluating which actions needed to be taken that week and which could wait. It was not as in depth as it might be when deciding to take a first step, but still a quick check of the costs/ rewards was helpful in determining priorities for the week. This is an incredibly beneficial practice to integrate into the rhythms of your life.
I know it is a lot of info in one post, but if any of this is speaking to you, please don’t hesitate to reach out. I would love to talk through coaching options and help you seize the opportunities in front of you!
KATHY PIERBURG 