http://www.daryllu.com/wp-content/uploads/2018/10/entrepreneurial-ninja_logo_sm.png 0 0 Daryl Lu http://www.daryllu.com/wp-content/uploads/2018/10/entrepreneurial-ninja_logo_sm.png Daryl Lu2017-02-28 12:51:002017-02-28 12:51:00Conscious Decisions – Realizing the Opportunity Costs of What You Address Now
I’ve been thinking of these two concepts intersecting today about what we choose to do –
- Be conscious of what is not getting done
- “If you don’t have time to do it right, when will you have time to do it over?” – John Wooden
Both of these touch on the economic principal of opportunity cost.
Especially in a startup with limited resources, opportunity cost is a big deal. On one hand, you can deliver an MVP or hack something together to test knowing full well that if it works, you’ll have to do it over.
The question comes to the question of value. What can you do now that perhaps is not scalable, but becomes a great problem to have later? What “best practices” can you stiff arm so you can focus driving max value areas? Should you focus on retention more than new sales now?
Realize the resources you have. Realize how you can deploy these resources in the most value-driving ways now. Be cognizant of what you’re consciously not delivering now. Realize what’s in store to (re-)address later.