“Weighing opportunity costs is crucial”
Lately, I’ve been talking a lot about being pulled in multiple directions. I’ve talked about sitting down and really considering what I want to be doing. What will help me achieve my goals? The biggest thing for me is weighing opportunity costs.
Opportunity Cost: “The loss of potential gain from other alternatives when one alternative is chosen”
Keying in on the dividends that I receive from my involvements, and deciding if my time can be better spent. This is absolutely something that I think everyone should truly consider. Our time is precious. Time is something that you can’t buy more of, so it is in my opinion, the most valuable thing we possess. Therefore, you really have to plan out your time, and decide whether you are doing the right thing with it.
Sleeping and eating are my two necessities in life. I absolutely need my sleep, and I relish times that I can take a few moments to catch my breath while eating. Besides that, my time is pretty open reign. I have a lot going on, and I’ve been weighing the opportunity costs of everything I do. I see a lot of returns on my accomplishments, but am I seeing enough?
A lot of this comes up when we talk social. I love to hangout with friends, and I think having a social life is absolutely a part of a balanced life. But less time on social and more time working might be ideal – especially when you are trying to make things happen. For today’s daily motivation, consider the idea of opportunity cost. We often do things we like; but is it truly the best use of our time? Will we reach our goals if we continue our current ways???
“Be happy for this moment. This moment is your life” – Omar Khayvam
With so many things going on, it is so easy to become stressed. Continuing to be busy, stress mounts up, and this can lead to a deterioration in our health or even sanity. Bottom line, it isn’t healthy to sit on these types of things. Life is about balance. If you are having a hard time finding that balance, think back to opportunity cost. We commonly want things that might not be the best thing for us, or best use of our time. We have to think deep about our current situation, our future, and how we are going to create that future.
It is really tough to see someone who isn’t happy with life. It is definitely hard to be grateful at times; especially when nothing seems to be going your way. But we have to remember that life is great. I can breath fresh air. I have two working and extremely capable legs (unless I just played basketball for two hours.) I have two working arms. Sometimes it is the simple things we have to look forward to; but that should be enough!
For today’s daily motivation, be happy for this moment. Relish in the fact that you have some form of your health. We have full use of our minds, bodies, etc. We live in an amazing era where we can communicate with people around the world in seconds, travel in a matter of hours, and we can change our lives with a little bit of hard work and elbow grease. This is your life. Cherish it.
“The only true wisdom is in knowing you know nothing” – Socrates
I only like history courses when we talk about great businessmen of the past; but I will make an exception for Socrates on this quote! I talk a lot on here about learning, and how you should always open your mind to new things. There is something about the innocence of a child, so eager to learn. Mixing green and red paint one day, and being so impatient for another art time, so they can mix two new paints.
As we get older, a lot of us lose that innocence. We feel like we’ve been around the block. We’ve done our “due diligence.” Its a sense of entitlement. But the difference between someone who ceases to learn and makes $70k a year for their entire life, and someone who exponentially scales their income year-over-year is they cease to stop learning.
Things change. With the current scope of the world, you have to stay up-to-date and be learning about these changes to stay relevant. A lot of older business owners realize the need for a social presence, hence the power of the digital movement. They knew what they were good at, and what they weren’t, and they acted accordingly.
For today’s daily motivation, remembers what its like to know nothing. Your experience is momentarily a blank canvas. What do you want to paint with?
“If I’m in, I’m all in”
Sometimes life pulls us in a million different directions. It can be so difficult to do everything, especially when our commitments become so big. I’ve had opportunities to do all sorts of meaningful things while in college. While the subject matter or the importance of each involvement may change, there is one thing that does not change.
When I sign on to a commitment, I think long and hard about what it will take to see it through. Do I have the time? The skills necessary? Don’t get me wrong, I love action. I love people who are do’ers. But think long and hard before you start something if you are going to see it through. Too many people are doing things half-ass, and not giving it their all. It is this poor planning that leads to boredom, and unfinished projects.
For today’s daily motivation, think about everything you do. Are you giving it your all? If your answer is no, you probably aren’t passionate. Whether it is a job you didn’t necessarily want, but find necessary, I urge you to start something new! You could be doing it for little amounts of time at first – but you better be giving it your all when you are doing it!
To end off, I’ll explain my story. I do a lot of things here on campus, and sometimes its tough to give it my all. Especially when I’m doing homework, reading textbooks, etc. But I love being involved, and feeling rewarded when I put on a great event and hear great feedback. Or when I get to meet someone amazing, and do some amazing work. It is so rewarding to feel good about what you do.
“Adopt the pace of nature: her secret is patience” – Ralph Waldo Emerson
Growing up, I was never patient. My parents really tried to preach the “hold your horses” mentality and saying with me. I was always antsy to do something. As I got older, I really started to pay attention to the big picture. I started to practice some of this “patience” my parents kept stressing.
Patience isn’t hard when you think about your goals in the grand scheme of things. Big things take time. Why would I want to do something that was easy and took me very little time? Anyone can do that. But you can also think about it in an empathetic sense, as I’ll mention later.
I love this because it relates to nature, and just having a very relaxing state of being. Patience should be your secret weapon. Prepare for the long haul, and you may find yourself more prepared and even outlasting your competitors.
For today’s daily motivation, think about how you can employ patience in your every day life. For me, it could definitely be having more patience with people. An example would be if my parents ask me to explain a trouble they may be having with a computer or phone. Often it can be easy to get frustrated, but I have to employ patience because it will help me in the long haul.
“One of the simplest ways to set yourself apart is making above the expectations the norm”
Today I really want to talk about setting yourself apart as an individual in a business format. It is so important to differentiate yourself. Nowadays anyone can pick up a camera and copy someone else – so the big part is what can you do to set yourself apart even though you follow in another’s foot steps?
Speaking from an entrepreneurial standpoint, people “copying” other people is good for business. People who open family businesses such as restaurants, dry cleaners, or even gas stations keep other businesses honest. Competition is good for the market and the consumers. But differentiation is how these businesses attempt to get a leg up.
The simplest version is to penetrate a market by lowering prices (again from a simple business standpoint.) But today, I want to talk about how you can set yourself apart as an individual. It is so important to brand yourself to others as a reliable and trustworthy person. The number one way to do that is to make above the expectations the norm.
When you complete a service, sell a product, or interact with individuals, remember that you are being judged on how well you do. Whether they buy from you, or interact with you again in the future can be based of this initial interaction. Set yourself apart by exceeding peoples expectations over and over, and making that a key part of your brand.
For today’s daily motivation, think about what going beyond the expectations would be for you or your business. I think its so important for people to think about this! Agree or disagree??? Drop me a comment!
“I couldn’t find the sports car of my dreams, so I built it myself” – Ferdinand Porsche
This has to be up there in the most baller statements of CEOs. Ferdinand with an absolutely Babe Ruth-esque call of belting it deep – and boy was he right. But on a more serious note, I want to focus on a key takeaway from this quote.
Follow your dreams people! Ferdinand had solid execution on a plan that he envisioned. He knew what he wanted in a car, and he built it because it didn’t exist. How many products you use every day were created by people who thought the exact same thing at one point?
This is important to me because it directly relates to me. I will definitely admit that daily motivation blogs can be overdone – but I also believe that everyone has a unique voice and outlook on different situations. The reason I started this is because although other people did it, I saw it done my way, and I executed. Unfortunately, I’m not as successful as Porsche (yet!)
For today’s daily motivation, think about a dream of yours. Is it something you could see yourself doing? Is it something you could execute on? It could be something simple like learning how to skate (that is definitely one of mine haha.) Or it could be creating something as big as Porsche – now wouldn’t that be a feat.
*Obligatory Porsche GIF*
“It doesn’t matter why you doubted me. In any case, you were wrong.”
If you’ve been reading these, you know I’m a ride or die kind of guy. You’re either with me, or you aren’t. Personally, I love doubters. Although I won’t go as far as to say they push me to be better, they certainly make victory sweeter.
But don’t let doubters get to you. Trust in yourself. Know that you’re well equipped with the tools and knowledge to succeed. People talk. They say you aren’t: smart, tall, big, strong enough to see your dreams out. No matter what reason they doubted me, no one gets a pass when I succeed.
This speaks a lot to those who believe in you as well. For today’s daily motivation, take a moment to thank someone important in your life. For me, it is my best friend Liz who supports me through everything, and always gives me straight up feedback. Pay the doubters no attention – give all the attention to those who have your back through thick and thin.
“In this world you’re either growing or you’re dying, so get in motion and grow” – Lou Holtz
Absolutely love the gumption here by Lou Holtz. Dying might be a little extreme, as far as a person goes, but I get his point and absolutely agree. You need to be constantly progressing in this day-and-age. If you aren’t constantly getting better, you are going to be quickly surpassed. For many business owners, your business may die. For individuals, you may not die, but if you aren’t growing you are certainly becoming less relevant.
It may seem like its hard to ‘get in motion and grow,’ but its a lot more simple than people think. Moving forward is still moving! Get out there and grow as a person through any means necessary. Learn a new language. Get a new hobby. Meet a new person. Start a new book. Ignite your passions, because they will inspire you to create.
For today’s daily motivation, I want everyone to consider if you’re growing every day. Do you hit the gym every day? Growth. Do you read every night before bed? Growth. Hell, even hitting some key goals at work can be growth! But don’t wake up every day and let ‘death’ live your life. Get into action and grow!
“Never spread yourself too thin”
As an entrepreneur, you are naturally stretched thin. This isn’t the intent of this post. This post is meant for people who are looking at opportunities, and are taking too many. It is great to take opportunities, but lately I’ve found that I’m just becoming a “Yes-man,” and just becoming too ‘reliable.’
I thought I’d share a little of my struggle lately. I feel as though I’m taking on too many things, trying to please people besides myself. I have expertise to give, and people want my help. If you know me, I’m always willing to give extra.
In my eyes, it helps them, and it really helps me too. But where do I draw the line, and ask myself if I’m only hurting myself in the end by taking on too much. Lately I’ve felt that because I do so much, my effort for certain things is wavering. A slip in quality is the last thing I want.
For today’s daily motivation, consider if everything you’re doing is something you truly want to be doing, or something you’re doing because it is truly leading to self-progression. Perhaps in this new year, we can eliminate some of the dead weight and focus more on things we truly want to get done.