Monday, September 21, 2015

Opportunity Cost

    Horse hides must be tough. In Iowa, I came upon two horses leaning over a barbed wire fence.
    When opportunities present themselves, there is always a downside to consider. It is better described as ‘opportunity cost.’ For those horses, the opportunity cost was mild discomfort to their necks. They accepted the cost. In return, they grazed on high quality sedge.
    Some people seize upon opportunities. They don’t factor in the opportunity costs. Later they crash and burn.
    Other people decline opportunities because the opportunity costs are too high. Good for them. They’re acting with prudence.
    But some people, I suspect, shun opportunities too quickly. They are scared by opportunity costs even if those costs aren’t high.
    Successful individuals pursue opportunities only after evaluating the opportunity costs.

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