It’s common consensus that GPS is one of the best things ever invented. You can find your way to places you have never been to before and also don’t have to resort to the confusing directions people give. But the first time Rahul used GPS, it wasn’t so easy for him. He went round and round in circles the first time. He visited three McDonald’s because his desired location was ‘above McDonald’s’. He kept doubting and second-guessing himself, constantly wondering if he had made the right choice.
In a sense, all of us are Rahul. We broadly know our destination and we do have the perfect equipment. Our willpower is also not weak. But then, we doubt our choices. We don’t trust our own sense of direction. And then we get lost.
In Costing, we have a concept called Opportunity Cost. It is not a real cost.
A wants to start a business by investing Rs 1 lakh. He estimates that the profit of the first year will be Rs 20000. If he keeps the same 1 lakh in a bank, he will receive an interest of 6% i.e. Rs 6000. He is losing out on Rs 6000 if he starts the business. That is his opportunity cost.
What are you losing out on if you don’t choose option A but go with option B?
Costing is an aid for decision-making. And that is it. Once you make the decision, the opportunity cost vanishes. Poof! It doesn’t, can’t exist.
“My dear child, nobody is allowed to know what would have happened.”
Aslan to Lucy, The Voyage of the Dawn Treader, Narnia series
And why do we keep thinking of this always? Wondering if we made the wrong choice? We simply cannot reach the destination if our mind, our attention is divided.
In Twilight, Bella falls in love with a vampire. She makes the choice after a certain amount of deliberation, and then stands by it. Throughout the series, that is the only wonderful character trait Bella exhibits. Is it a silly decision? Maybe. Does it land her into a lot of trouble? Absolutely. But because she sticks to her decision, she does get her happy ending.
Coming to the part where it is necessary to reconsider your decision, wait, you know yourself better than anyone out there. You know when it’s plain laziness, lack of effort, a bad day or when the decision is really wrong. Whatever be your decision, again, stick to it.
When Rahul figured it out, he began to use the GPS a lot more successfully. He didn’t think of the routes he should have taken, the paths he could have chosen. He accepted the path he was on was going right where he wanted it to go……