The Most Expensive HIDDEN Cost on Your P&L

The Most Expensive HIDDEN Cost on Your P&L

Part of being a responsible leader means paying attention to your profit/loss. However, what if I told you that you had a six-figure expense that was hidden from your sight the past 12 mos.?

And that hidden, six-figure cost was not producing ANY value…You’d probably want to do something about that, right?

One of the biggest costs on your P&L (whether you see it itemized on there or not) is hesitation.

And the #1 reason for hesitation in decision making, is the fear of making a mistake & getting it wrong.

However…

The greatest cost in decision making isn’t being wrong,
it’s the time wasted trying to make the decision.

Because … even if you’re wrong, you’re one step closer to making it work.

UNCERTAINTY holds us back.
We want to make the RIGHT decision.
We want to know what the outcome will be.

So, we push that idea off to the next week, next month, next quarter.

What we fail to recognize is that
the certain misery of our current situation, is worse
than the misery of an uncertain outcome from the decision.

You’re valuing the wrong thing.
Stop valuing certainty and start valuing your TIME.
Certainty only comes in the rear-view mirror.

There are two types of decisions – (1) reversible and (2) irreversible.

Ninety-nine percent of decisions are type 1 decisions, but we treat them like type 2 decisions. If that’s true, failure and mistakes are okay.

In fact, a great predictor of your success is your rate of failure. Fail fast. Failure is great feedback.

(Disclaimer – I’m obviously not encouraging thoughtless or reckless decision making 😊).

HERE IS THE KEY TO BREAKING FREE OF HESITATION:

Anytime you’re procrastinating, wondering, or guessing about an idea or action to take – ask,

“What is an experiment I can run to find out the answer?”

What about YOU?

What’s a decision, an idea, a project you’ve been hesitating on for days, weeks, months, perhaps years!?

If the goal wasn’t certainty of an outcome but instead the goal was to EXPERIMENT… what would be the first step you’d take?

Make the decision to run that experiment today!

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