I’ve got a friend who regularly busts my chops about my tendency to overcommit. This is a good thing. Ben reminds me that, even though I sometimes fool myself into thinking so, I can’t do everything. By saying “yes” to this, I’m simultaneously (usually unwittingly) saying “no” to something else.
In economics this is called “opportunity cost.” Opportunity cost is the value of what you’re willing to forgo by deciding to do one thing rather than another.
Continue reading: Opportunity Cost: The Price of Not Making a Decision | [D]mergent.