What Is the Opportunity Cost of NOT Going After Your Dream?

There’s a cost to anything in life, whether it’s money, time, energy, or risk… but did you know that there is also an opportunity cost to NOT doing something? Keep reading for a few mindset reframes to clarify whether something is worth your investment. Including…

✨ Why something that costs MORE may actually be better for you

✨ Why the money is only ONE part of the equation (and other factors to consider)

✨ The difference between an INVESTMENT and an EXPENSE

✨ Why investing a small amount upfront could actually return you way more

✨ How to handle if something goes worse than you imagine…

✨ AND how to reframe your mindset around if it could actually go BETTER

Find the full episode on Episode 66 of the Bright Life Podcast: What Is the Cost of NOT Going After Your Dream? Or keep reading below!

How Opportunity Cost Works

Let’s explore the profound opportunity cost of not taking action on your dreams.

The Cost of Inaction

Just like the cost of going to the gym to maintain your health, there’s a cost to not taking care of yourself physically and emotionally. Similarly, when it comes to building a business or investing in your dreams, we often focus solely on the immediate financial expenses of courses, coaches, or products. However, what we fail to realize is the opportunity cost of not making those investments.

Sometimes, spending a little extra to save time, gain knowledge, or receive expert guidance can yield far greater rewards than the cost would be of you figuring it out on your own, spending years of your life (and thousands of dollars) in trial and error. Where could you be if you got there sooner? How many lives could be impacted, including your own? Consider that to assess the TRUE cost of waiting.

Value Given Is Value Received

Value given is value received. When you invest in yourself, your business, or your dreams, you’re also investing mentally and emotionally. This higher level of commitment can lead to more significant returns than if you opt for cheaper or free alternatives. You simply show up differently because you’ve invested more. So, don’t be afraid of a price tag; consider the immense VALUE you can gain from giving more (and receiving more in return).

Investments vs Expenses

Distinguishing between INVESTMENTS and EXPENSES is another crucial perspective. Investments are ventures that can potentially yield substantial returns, be it financially, emotionally, or professionally. On the other hand, expenses are money spent without any expected returns (like a Starbucks coffee, eyelash extensions, or manicure). As you embark on your journey, prioritize investments that offer long-term growth and fulfillment over temporary expenses that don’t add true value to your life.

The Power of Disproportionate Gain

Don’t be afraid of risks that could lead to disproportionate gains. Even though an investment might seem substantial upfront, measure it against the potential rewards.

For example, you may invest $2,000 in a mentor or program, but if that mentor or program teaches you a skill that could earn you $200,000 every year the rest of your life, that’s a disproportionate gain compared to what you invested.

What Could Go Right?

Shift your perspective from dwelling on what could go wrong to visualizing what could go right. Envision the positive outcomes of your actions and the ripple effect they can create in your life and the lives of others. Dare to imagine a future where you’ve achieved your dreams, where you’ve inspired others, and where you’ve found immense fulfillment. Sure, things can always go wrong… but train your brain to consider: What could also go RIGHT?

I hope these insights have helped clarify the opportunity cost of whatever you’re considering in your life! Understand that there’s a price to both action AND inaction. But the rewards of chasing your dreams are immeasurable. Embrace investments that lead to transformation, and don’t be afraid to take risks that promise disproportionate gains. Growth is always worth the investment.

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