Unlike sunk costs, opportunity costs are relevant when making decisions. They are the potential benefits that are given up when one alternative is selected over another. I recently researched the argument of home renting vs. buying and there are several opportunity costs that nearly everyone ignores. This bleeds into most of our life and the daily choices me make. Only when we are aware and recognize these opportunity costs, we make wise decisions.
“You can discover more about a person in an hour of play than in a year of conversation.” –Plato
“The opposite of play is not work, it is depression.” –Brian Sutton-Smith
Science has revealed that play is essential to growth and success. As one who constantly wants to learn and create, it is often hard for me to do something simply for the joy of doing rather than as a means to an end. But science has taught us that play leads to brain plasticity, creativity, and adaptability, all elements that add meat to our progress. Stuart Brown, founder of the National Institute for Play, also notes that play has the power to significantly improve everything from personal health to relationships to education to organizations’ ability to innovate.
In his book Essentialism, Greg Mckeown mentions three specific ways in which play can make us more engaged, germinating new ideas or seeing old ideas in a new light.
The purpose of Rock Star Accounting is to educate and entertain. I love learning, exploring, and creating, none of which ever reach a stage of completion. Although accounting is at the forefront, this site is geared towards business in general, especially entrepreneurship. Good things to come and I can't wait!