The Cost of Inaction
There is obviously a cost to do something. If I go on vacation for example, it's going to cost me time and money. If I go out to dinner tonight - there is certainly a cost as well.
Think of some of the things you have done in the past that have had great results, maybe even lifechanging results. If you hadn't done them, there would have been an enormous "Cost of Inaction" or COI.
For example, if I hadn't gotten married and had kids, my life would be much different now. Certainly far less rich and wonderful.The cost of inaction would have been immense.
A bit over thirty years ago, I left corporate life to become a consultant. It's worked out extremely well, with lots of world travel which I love, the ability to choose exciting work and I've had some great projects and continue to, and freedom the likes of which doesn't exist with a job. And the money has been great.
What if I hadn't left my great job at HP in 1990? The cost of inaction would have been IMMENSE!
Often people delay, sometimes forever, doing something because the time isn't right or they are not ready. There is never a perfect time for many things are some things you may never be perfectly ready for.
Think of the cost of inaction! And then move forwards.
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Is consulting risky – specifically is it more risky than having a full time job?
The conventional wisdom says “yes” – and is absolutely wrong! Maybe it was “once upon a time but it isn’t now.”
If you have a job and lose it, you are unemployed – it’s binary: “job” or “no job.” And unfortunately people lose their jobs, especially during difficult times.
Consultants typically have multiple clients. If you lose a client, you still have others. Typical consultants have 3-6 clients per year. If one client doesn’t have any work for you, perhaps they “fire” you, go out of business, or are having a difficult time, you still have work from other clients.