How Realistic should we get on those Opportunities presented to us?
Every decision that we make comes with an Opportunity Cost. Unfortunately, there isn’t any foolproof method of deciding which to take unless we already know what’s waiting for us.
Opportunity Cost of a particular activity option is the loss of value or benefit that would be incurred (the cost) by engaging in that activity, relative to engaging in an alternative activity offering a higher return in value or benefit.
If we know beforehand the monetary value or intangible benefits of making that decision, we will take the most beneficial path. Without seeing beyond or viewing through a crystal ball, we need to leverage the available information to help us decide.
However, there are studies on how we often downplay those negative factors and magnify the positive ones. When presented with an opportunity, we tend to focus on the positive aspects and seek confirmation on that opportunity instead of constantly probing on the downside. I feel that there isn’t any foolproof method except deciding what’s our priority at that moment in time. Apart from that, we ought to consider all the “What if?” scenarios. What’s the best-case scenario that could happen when I make this decision? What’s the worst-case scenario if I decide on this path?
Each time an opportunity approach us, Those presenting to us will tell us that it will be the opportunity that’s worth seizing. The people involved are enthusiastic and very keen to make this happen. If we miss this chance, it will likely not be there for us to grab again. But, of course, if an opportunity is too small and people are not fore-coming, will you feel that it’s worth it? This is why we often overrate opportunities presented to us and underrate risks associated with those opportunities.
I stumbled upon multiple opportunities throughout these years. However, in most cases, the probability of me realising the option is low. Maybe it’s me, and I do not have much luck in opportunities. While I am always optimistic, the outcome is mostly not what I want. There are only a few instances that the opportunity is real, and I stand to gain some benefits from my contributions. Thus, it is crucial to know and see those opportunities more realistically and weigh them against our current reality.
It is nothing wrong to take a leap of faith and crafting a different path for ourselves. I have given myself some time to see if I can work things out. There have been opportunities along the way for the last few years, showing great promises, but eventually, most of them do not realise. In most cases, those who bring the opportunities themselves either have their job or run their own business. This is probably the key reason I am more hungry to get those opportunities since most of them can still put food on the table.
I am at a crossroads again, and the decision that I will make will affect me for the next few years and probably towards my retirement. I need to take a more realistic approach and not bet too much on those fantastic opportunities this time around. The reason is that these lucky moments tend to avoid me, and I now need to take a more conservative approach to benefit my family. Instead of making bets, I will be more realistic and see which decision financially brings me the most tangible impact.
Is it time for you to get realistic too?
