One of the biggest losses in any business is opportunity loss. In the past this has been known as opportunity cost. With a new economy based on experiences and transformations the costs of a missed opportunity can appear to be zero.
There are alternatives to every use of time, labor, money, machines and materials. With money there are the issues of use of working capital vs borrowed money vs leases.
Often the loss occurs because the alternatives are not known. And the alternatives are not known because of lack of knowledge or a lack of creativity to understand customer choices.
The "market" for "opportunity cost" is increasing rapidly. The book "The Four Hour Work Week" by Timothy Ferris explores the subject in the area of the time of the entrepreneur.
David Sneed
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