# Opportunity cost
- URL: https://www.petrikajander.com/purpose-n-clarity/opportunity-cost/
- Author: Petri Kajander
- Date: 2022-12-05
- Language: en
- Audio: https://anchor.fm/s/7330d180/podcast/play/59380666/https%3A%2F%2Fd3ctxlq1ktw2nl.cloudfront.net%2Fproduction%2Fexports%2F7330d180%2F59380666%2Fcd57fe913cb2a2f2f11bcc29c5a9a114.m4a
- Video: https://www.youtube.com/watch?v=zzrY_o-mijA

The conundrum of visible and the unseen: you know where you're spending your time but have you considered what you could have achieved by doing something else instead?

## Transcript (https://www.youtube.com/watch?v=zzrY_o-mijA, YouTube's automatic captions)

[0:03] Welcome to business purpose and Clarity with patreon your host we talk about startup live insights practical tips mistakes failures and everything between what could you do instead of whatever you're doing or you're planning to do there's another fancy name for that and it's an opportunity cost an opportunity cost is something you should keep in mind pretty much all the time what are you doing because you can just do one thing at a time you cannot beam two places at the same time that's what I learned in physics opportunity cost of going to an accelerator opportunity cost of signing up for some courses or things like that often I talk to Founders who pretty much think that they will get good contacts they will get access to investors they will get so many nice.

[1:08] Advices and business opportunities by joining these programs they tend to take a long time if you think about you are like um maybe three or four certain team to who are the founders and usually you are involved in an accelerated then and you need to do your regular business as well if the program takes eight weeks if it takes three months you have to do a double shift because sometimes you really have to sit on the lessons like in the school and you cannot travel you're gonna take calls you cannot just pretty much run your business like you used to do but you still should progress so the opportunity cost of going to incubator program where oftentimes they have a quite standardized approach by standardized I mean that it's not exactly customized to your level of.

[2:12] Expertise knowledge and experience because if you've been in the business like 15 20 years you're more experienced maybe a first time founder but I mean experienced in the business if you've been in a corporate world and a lot of different jobs and maybe even the director responsible of profit and losses for your unit and running a team of organization of maybe even hundreds of people you're not exactly in the same level as somebody who just graduated from University or even skip that one these programs tend to go from the level of the lowest nominator you need to do a lot of setting you need to do a lot of listening you need to attend a lot of even if it's remote teams meetings I hope not but that could be the case so this is the opportunity cost in a sense that you just cannot do those things I get it it's a lot of nicely put coaching and putting you out of your comfort zone so.

[3:15] You're doing things which you would probably not do without going there you you are challenged you are encouraged to do things you probably get also quite a lot of stuff done you maybe would not do without it so I see these benefits and it's always good that somebody kicks your butt so to speak but the other thing is that if you just really going there for the investor contacts if you're really going there for getting the advisors maybe you can do them without the program or losing the 5 to 10 percent of your Equity you could make a list and palest I mean really making your wish list that who are the people who are the most respected who you really would like have seoi devices the other thing you could do is think about those investors similarly if you're looking for investors as to who are really the best ones in my case who are the ones who get what I'm doing who are the ones I would really love to have.

[4:18] On board and then you can think about what would it take to get those have I done anything to get those and would I settle for anything less well sometimes you are in a Dire Straits and you have to do whatever to survive but often cases you have some leeway to do things you have to just think about yourself what type of company you want to build because by association to me also telling things and when you're comparing these programs if you still considering whether the code to an accelerator incubator or any of these programs really check those people's hotel list really ask the questions how they will help you what happens how they will get you the investors who are those investors because maybe you can already see from the web page or they are and you can contact them directly you really need to consider yourself when you're going there and watch the opportunity cost can I save time by doing things by myself.

[5:23] Or maybe you need a someone coaching you to do those things or you combine those things some way and in some cases it's really good to go to accelerator as well then that's the best way for you to spend your time so think about opportunity cost always and challenge yourself.