Everything we do has an opportunity cost. What is the best way to spend your time, energy, investment, experience? Anything less than that creates opportunity cost. It’s the difference between your chosen course of action and the most optimal solution available.
Quantifying opportunity cost helps us to understand that we do not measure against a zero baseline. Everything is juxtaposed against the best current or available solution.
Measuring in this way could easily incapacitate us. What is there is a better option available? Let’s delay just in case something more lucrative comes along. In these cases, we trade the available solution for nothing. Even this includes an opportunity cost.
Missed opportunities are the ones that float by because we don’t bother investigating better solutions or improvements to our current returns. Why fix something that’s working?
This question is a prelude to disruption or waste.
Experience teaches us the difference.
You could earn that experience by learning the lessons yourself.
Someone could teach you as they guide you to successes.