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Aidas Petryla
Aidas Petryla

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Taming one of the trickiest business concepts

Imagine this: You're a fast self-study person. You often don't take any courses because you're faster on your own.

You saw a course for free and started doubting whether it's worth taking it since it's free.
You decided to give it a try.
In the middle of it, you realize that it's too slow for you, but you kind of want to finish it. After all, it's free, so you're not losing anything, right?

Turns out you might be!
Welcome to the world of opportunity costs!

We only have a single physical place we could be in, and we can only do a single thing at a time. When we choose to be somewhere or do something, we're at the same time choosing not to be somewhere or do something else. That's the hard truth.

This concept seems simple, but I often find it tricky to remember and actually apply in the wild. The things that we don't see are so close to non-existence... But at the same time, they are actually something we could be doing!

When calculating the costs, it's not only time, money, workforce, effort, and items to take into account but also what else we could be doing with the same resources. Asking this question could sometimes provide incredible insights and lead to a significant breakthroughs.

While choosing to stay in a free unproductive course, you're at the same time might be losing the ability to learn the subject faster. So, in the end, it costs you more.

Now, head up, look around, and ask: What can you stop doing now to start doing something better instead?

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