Asking the Right Questions and Opportunity Costs: Making Better Business Decisions

Many business owners and founders find themselves in a failing business or emotionally unfulfilled because they fail to ask the right questions at the beginning of their journey. Excitement over a new idea often hinders scrutiny and consideration of opportunity costs. By focusing on opportunity costs and envisioning the future, individuals can make better decisions. It is important to believe that there can be even better ideas in the future and to consider what could be better three years from now. This exercise helps determine whether decisions are made to escape something or to move towards something better. By spending time on this exercise, better and sustainable decisions can be made.

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