We live in an age when knowledge is right at our fingertips. The Nature and Weather Channels are only a click away from the trash that clogs our entertainment industry. Books are plentiful. Libraries can be found in close proximity to any community in America.
I have grown to love reading the quotes, sayings, and advice given by sage men and women over the years. When we are faced with a complex personal decision or need motivation and encouragement we have the words and wisdom of incredible people near at hand.
The other day I received an email from Denis Waitley filled with powerful advice about "opportunity". Let me share it with you:
Every Decision We Make has an "Opportunity Cost"
by Denis Waitley
Every decision forfeits all other opportunities we had before we made it. We can't be two places at the same time. In their excellent management book, Tradeoffs, Drs. Greiff and Munter discuss the difficult options that face us in all areas of our lives. One case in point illustrates a common opportunity cost. It's a true anecdote they call, "Bicycle vs. Mother":
"John is a precocious eight-year-old boy. Both his parents work. His mother is a management consultant and travels frequently. After being away for several days, she arrived home late one night and hugged her son.
He said, 'Mom, I missed you. Why were you away so long?'
She smiled and replied, 'One of the reasons I was away was to make enough money to buy you the bicycle you wanted.'
Young John looked at her reflectively and stated, 'Mom, I really did want the bicycle. But mothers are more important than bicycles. So please stay home more.'"
Even though we all are aware of the tradeoffs of "quality time vs. quantity time" in our relationships, we are not used to thinking specifically about how our decisions cost us other opportunities. Without this understanding, our decisions will often be unfocused and unrelated to helping us achieve our most important goals.
Baseball's greatest hitter grew up near my neighborhood in San Diego. When Ted Williams slugged for the Boston Red Sox, my father and I kept a record of his daily batting average. And when I played Little League ball, my dad told me not to worry about striking out. In Williams's finest year, dad reminded me, the champion failed at the plate about 60 percent of the time.
Football's greatest quarterbacks complete only six out of ten passes. The best basketball players make only half their shots. Even with satellite mapping and expert geologists, leading oil companies make strikes in only one out of ten wells. Actors and actresses auditioning for roles are turned down twenty-nine in thirty times. And stock market winners make money on only two out of five of their investments.
Since failure is a given in life, success takes more than leadership beliefs and solid behavioral patterns. It also takes an appropriate response to the inevitable, including an effective combination of risk-taking and perseverance. I meet many individuals who are seeking security at all costs, and avoiding risk whenever and wherever possible. Knowing that certain changes would make success much more likely for them, they nevertheless take the path of least resistance: no change. For the temporary, often illusory comfort of staying as they are, they pay the terrible price of a life not truly lived.
Parable of the Cautious Man
There was a very cautious man,
who never laughed or cried.
He never risked, he never lost,
he never won nor tried.
And when he one day passed away,
his insurance was denied,
For since he never really lived,
they claimed he never died.
In other words, missed opportunities are the curse of potential. Just after the Great Depression, Americans, perhaps understandably at the time, took many steps intended to minimize risk. The government guaranteed much of our savings. Citizens bought billions of dollars worth of insurance. We sought lifetime employment and our unions fought for guaranteed annual cost-of-living increases to protect us from inflation. This security-blanket mentality has continued in recent decades as executives awarded themselves giant golden parachutes in case a merger or takeover took their plum jobs.
These measures had many benefits, but the drawbacks have also been heavy, even if less obvious. In our eagerness to avoid risk, we forgot its positive aspects. Many of us continue to overlook the fact that progress comes only when chances are taken. And the security we sought and continue to seek often produces boredom, mediocrity, apathy and reduced opportunity.
We still hear much about security, especially from federal and state politicians. But total security is a myth except, perhaps, for those six feet underground in the cemetery. We may indeed ask our government for guaranteed benefits. But we must be aware that when a structure starts with a floor, walls and ceilings will follow. And herein lies a paradoxical proverb:
You must risk in order to gain security, but you must never seek security.
When security becomes a major goal in life – when fulfillment and joy are reduced to merely holding on, sustaining the status quo – the risk remains heavy. It is then a risk of losing the prospects of real advancement, of not being able to ride the wave of change today and tomorrow. Had the founders of Yahoo, Amazon.com and America Online been concerned with immediate profits and return on investment, we would not be enjoying those Internet services today, each of which has a greater market capitalization than IBM or General Motors.
Seek to be more aware of the "opportunity cost" and risk a little more this week!
