All businesses ultimately have a limit to the time and money they have at their disposal.
So there will always be some level of Opportunity Cost to consider. A trade-off.
But for small business especially, and Owner-Operator businesses in particular, the impact of Opportunity Cost is usually far greater.
A bigger business usually has degrees to which they can trade-off one option over the other.
In a small business, it’s often a case of all or nothing.
With a small business, the Opportunity Cost of Time can be far greater than Money.
And, in a small business, the impact of Opportunity Cost can also have significant personal implications too.
#time #money #resourceallocation #opportunitycost