Saturday, 23 February 2013

The cost of regret vs the cost of a failed attempt

If you fail at something you suffer some or all of the following:

• Some public humiliation.
• Lost money.
• Time that was consumed with trying (and the opportunity cost of that time e.g. it could have been used for a pleasurable pursuit like watching a big game or movie).
• Personal disappointment and despondency.
• An (often brutal) exposé of your shortcomings.

But if you don't try you forego the following:

• Any chance whatsoever of succeeding.
• The stage (i.e. real life) to learn and develop your talents, and fix your shortcomings.
• The experience of pain that will grow your resolve (which happens after the initial disappointment).
• The inevitable probability that after a certain number of attempts you will have the right blend of ability, approach and resources to succeed.
• The exhilaration of achievement and the immense reward that follows when the abovementioned ability, approach and resources come together in the interests of a common outcome (i.e. your goal).

If you don't give something a proper go, the walls of the rut you're in will grow higher and the change you desire becomes more and more of a pipe dream.  Even the most cynical among us have to agree: the cost of a failed attempt is lower than the cost of stagnation and regret.

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