Always Consider Opportunity Costs

by rubenharris

Josh Kaufman has a blog (Personal MBA) that I read often.  As I was reading his post, The 4 Most Valuable Things I Learned In Business School, the first one resonated with me the most:

“Always Consider Opportunity Costs”

“Whenever you choose to invest your time or money, you’re simultaneously choosing not to do everything else you could potentially do with that investment.”

“The principle of opportunity cost applies to everything: every choice has hidden costs, whether you’re working, sleeping, or taking on a new project.”

“The more you can uncover the implicit costs behind the decisions you intend to make before you move forward, the better your decisions will be.”

I am also a business student and can attest to how valuable the application of this concept is to your life.

Go ye, and do likewise.