As an avid Syracuse University athletics fan, I’m still smarting over the loss of our men’s basketball team in the NCAA Elite 8 tournament. There were many missed opportunities in rebounding and shooting that snarled players’ performance. In the end, those missed opportunities cost the team a big game.
That’s not strictly a sports story. Missed opportunities play havoc as well in business. Indecision, or, not taking the opportunity to make a decision, has its own costs – and those costs sometimes exceed that of an even bad decision.
As consultants, clients often come to us to help them make a decision. They invest time and money in our services. We collect data, make recommendations and create action plans. Sometimes, despite the investment of time, money, and compelling research, a client elects to do nothing. Among their reasons: “It’s not the right time because we’ve got so much on our plates,” they tell us. “Let’s wait until after the executives’ offsite meeting,” they say. The bottom line: It’s a missed opportunity. And there’s always a cost to the organization.
Read more: http://smallbusiness.foxbusiness.com/legal-hr/2012/03/28/missed-opportunities/#ixzz1qQk5kbfM