Opportunity
can be said to be a chance for advancement, progress or profit or a favorable
circumstance or occasion. But not all opportunity brings about progress to
someone or something. There are opportunities that package failure in disguise
but to recognize this kind of opportunity can be a problem. Here are few hints
to identify an unprofitable opportunity.
Calculate the "opportunity
cost" of saying no. If the
opportunity is business-related or involves financial decisions – anything from
whether to take on a new babysitting client to whether to get your groceries
delivered instead of going to the store yourself – you will want to calculate
the "opportunity cost."
- Start by calculating how much one hour of your time is worth when you spend that hour doing paid work.
- For each opportunity that presents itself, calculate how much the opportunity will cost as part of your decision about whether or not to say no.
- For example. You are normally paid $15 per hour for your work. Having your groceries delivered costs $10, but going to the grocery store takes two hours. If you are choosing between picking up an extra two hours at work or doing the shopping yourself, you would probably choose the work hours ($30) and pay the $10 delivery charge.
- Remember that opportunity cost should be only one part of your decision making process. It can help you to understand the financial aspects of a dilemma, but there are usually other issues to consider when making a complicated decision.
Decide whether you have the skills
and abilities needed to say yes.
If someone asks you to take on a task or a project you aren’t ready for, then
you might not be able to do a good job. You might find it very stressful to
complete the task or project, and the person who asked you might not be happy
with the result.
- If you say no now and keep working on preparing yourself, then next time you will be able to confidently say yes – knowing that you will do a great job. Or maybe the task or project is just not a good fit for you. Don’t set yourself up to fail.
Assess whether saying yes will
jeopardize commitments you have already made.
If you are already very busy, think about whether or not you have the time to
do an adequate job of whatever is being asked of you. For example, if you are a
busy student with many commitments already, then taking on a new part-time job
or volunteer position might not be the best idea if it is going to compromise
your ability to complete school assignments.
- The same principle goes for people who are running their own business: if taking on a new client will mean compromising on the work you are doing for existing clients, then you will want to carefully consider your next step. Is it worth risking losing both clients because of shoddy work?
Ask yourself if the request is a
realistic one. Sometimes people ask for a favor or
seek out someone to do a job for them without really knowing what they need or
without thinking through a reasonable way to make the request. If you are not
sure the request is realistic – something that can be done – then do some
research to find out.
- Don’t say yes unless you are certain that the job really can be done the way the person is asking.
- Don’t be afraid to say "maybe" or to negotiate a realistic way of accomplishing the goal.
Ask for advice.
If you are not sure about whether to say no, ask a trusted advisor. If you are
a student, that might be a teacher or professor. It could be a parent, or a
friend or other family member. These people will help you to see "the big
picture" and can often give you a fresh perspective on your dilemma.
Motivational
