🍀Art of making Good Trade-Offs - Issue 204

Hi, I am JOE and I write on "Mindful Productivity & Cerebral Happiness". My endeavour is to share life lessons, some thoughts, quotes & links to articles/podcasts/books, I discover during the week.

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Did you realise that at certain stage in our lives we get to realise that ‘life is full of trade-offs’. Every choice has a cost. When you say yes to one thing, you say no to others. This is how the world works. It’s like gravity. You can’t escape it. This is where all the good or the bad, happiness or sadness generally resides.

Opportunity cost is what you give up when you make a choice. It’s the thing you can’t have because you picked something else. Say you have a free evening. You can work on your startup project or go to a movie. If you work, you miss the fun. If you go to the movie, you miss the chance to make progress. Every choice has an opportunity cost because you implicitly say no to many other things every time you say yes to something. You need to know your opportunity costs. This helps you make good trade-offs.

A trade-­off is giving up one thing to get something else. It’s choosing between options. Each has good and bad points.

Trade-offs are about priorities. When you make something, you face trade-offs. If you want it fast, you might lose some features. If you want it cheap, you might use lower-quality materials.

In life, we face ­ trade-­ offs all the time. Do you take the high-paying job with long hours? Or the low-paying one with more free time? Do you spend money now or save for later?

Making good trade-­offs is about weighing the opportunity costs and benefits of each option and more importantly, choosing the one that aligns best with your goals and values. It’s not always easy and it will never be easy but being conscious of the ­ trade-­offs you’re making can help you make better decisions.

Wisdom lies is anticipating the consequences of your choices. In life and business, success is about making good trade-offs. It’s not about having it all. It’s about having what matters most.

We all value different things. That’s what makes life rich. Opportunity cost is what you give up when choosing; trade-offs are the balancing acts you perform when deciding between competing options. They’re two sides of the same ­ coin—whenever you make a ­trade-­off, you incur an opportunity cost for the options you didn’t choose. The key in both cases is to be thoughtful and intentional about your choices

Take good care & hope you have enjoyed reading this week's dose of ‘Mindful Productivity & Cerebral Happiness’.

Joe

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