You'll come up with something better
Just because you're free doesn't mean this is the best way to spend your time
As I’ve talked with people about how they spend their time, I’ve noticed an interesting phenomenon. For the most part, when people are asked about doing something, they look to see if they are free. Then, if the thing sounds OK, they generally say yes. The tendency is to compare the thing on offer to “nothing.”
It makes sense. In general, something reasonable does sound better than nothing.
But it turns out that “nothing” isn’t the only option out there. If you are indeed available, with a little initiative, you could engineer something really cool into your life at the same time. Better to consider that as the opportunity cost, rather than nothing.
On a scale of 1 to 10
I like to think of all this using a 10 point scale. There are things that are reasonably pleasant — 5s and 6s. There are activities that are pretty fun — 7s and 8s. And then there are the really awesome ones — 9s and 10s.
If you spend a few minutes thinking about it, you can probably figure out what falls in the categories of 8s, 9s and 10s for you. So rather than settle for a 5 or 6, why not try to use that same amount of time to get to a 9?
For instance, maybe you and your spouse are invited to attend a non-profit fundraising dinner in a nearby town. You’re considering making a night of it — getting a babysitter for several hours, dressing up, etc. Yes, you know that this organization’s fundraising events tend to be kind of boring, but you’re available and it’s something you could do, and you like to do things together and…
If you are thinking this, maybe pause and reconsider. You could donate the amount you would have donated to the non-profit, and then use that special night out with your spouse for stuff you’d really love — like going to an outdoor concert in a park, or grabbing beers at a favorite brewery for just the two of you, or meeting up with friends who live in that town and having dinner at their house. All of these take the same amount of time, and similar amounts of cash, but you’ll really enjoy yourself during them. Big win.
Opportunity cost at work
I think people should use this mindset more for work too. We have a tendency to say yes to meetings if we are invited, even if we’re not sure we’d contribute much, or even that the meeting has to happen. Of course, you’re thinking well, this is my job, and I’m a team player, so I need to do it. But do you? Maybe the meeting is only a 5 or so in terms of your particular expertise. You could use that same hour to work on a project where your contribution might be a 9 or a 10.
You can also think about opportunity cost if you’re looking for your next project. You could say yes to what comes over the transom. You could also put the same effort into calling contacts, working your network, brainstorming ideas, and finding or starting something amazing.
Ambitious people can almost always engineer some 8s into their lives if they try. My guess is that they can often create some 9s too. Maybe even 10s.
So when you’re thinking about spending your time and energy on an activity that you’d consider a 5 or 6, know that you’re not comparing this with nothing. You’re comparing it with something that could be utterly amazing. You can find something better. You just have to try.