Decisions and Cost

So today is September 1 and I've noticed I'm antsy, perturbed, nervous, can't sit still, and I'm wondering why. What is it about September 1 that has caused me to feel this way. Well nothing; nothing in particular and everything in general. And what does that mean? Well it means my decisions are not driving me towards where I want to be.

So here is the question that I've put to myself: "What decisions am I making and what are they costing me?"

Wow ... that's one hell of a statement. And the corollary: "Am I DECIDING not to get where I want to go?" That's a strong statement as well.

In thinking through this, it is obvious that I'm making decisions without looking at what those decisions are costing me. What does that mean? Well, it's kinda like looking in the kitchen cabinets, finding a snack and downing that snack all before you realize that you've broken your diet.

These implicit costs are there, just like the extra pound that you put on when you were eating without thinking about it. These costs are happening; things aren't getting done, I'm making all sorts of reasons why things aren't moving forward ... but the reality is I'm making decisions without my eyes open.

Of course that naturally leads to the following statement:

"All decisions have costs whether you are aware of them or not; even the decision not to decide"

I think just recognizing that is an important step (as they say, knowing you have a problem is the first step). Of course the next thing to do is to really look at the costs I'm incurring when I decide (or decide not to decide) to do something.

And where do costs come from:

* Opportunity costs (could I be doing something that is more valuable)
* Externalities (is my decision affecting something or someone else)
* Reputation (will others behave differently in the future due to my decision today)

There are a bunch of other implicit costs that I'll go over in a future blog on true costs, but there are plenty of costs involved here.

So, pay attention to what you do (remember an unexamined life is not worth living) and what it costs you ... since you'll pay ... even if you don't think you will.

See you on the wire.

- Steven