The Opportunity Cost of Training
Opportunity cost is a common economic concept. It applies to the opportunities we inevitably lose whenever we make a choice. It is something we incorporate into our everyday life choices, whether we realize it or not. When you find it increasingly difficult to prioritize your fitness goals, you need to evaluate the real opportunity cost when it comes to training-- or not training.
Opportunity Cost, Elaborated
We only have twenty-four hours in a day, yet there is an infinite amount of ways to spend that time. We could do anything we want, but there will be consequences. We realize this as we choose how to spend our time.
For example, if we choose to go to work, the opportunity cost of going to work is literally anything else we could be doing at that time, instead. We may lose the opportunity to sit home all day, watching TV, reading, going to the beach. Yet, if we choose to skip work on a workday and do all those things, the opportunity cost may be the opportunity to thrive at work, or to remain employed at all!
Opportunity cost ties into our priorities, and it applies to every choice. We have to consider the opportunities we gain and lose every time we make a decision, whether it concerns how we spend our time, money, resources and focus. Our boxing training will require all of these things at some point.
What Is The Opportunity Cost Of Not Training?
When we begin training, we may be quick to realize the opportunity cost of training first. Yes, we may have to forgo the opportunity to sleep in, spend time socializing and eating our favorite junk foods. We even forgo the opportunity to feel comfortable at times. These are the sacrifices that make most quitters quit. This is when we have to shift our focus towards opportunity cost of not training. What is it we are losing every time we choose something else over an effective training session?
Here are some of the opportunities we are missing out on:
The Opportunity for Success
The biggest opportunity we miss is the opportunity to experience the euphoria and true fulfillment of success. When we reach our boxing goals, it all becomes worth it.
Very few who reach their goals will say that they regret missing the opportunities to slack off. We will forget the sacrifices that immediate gratification may have temporarily provided.
The Opportunity of Health and Energy
Training can reduce the risk of experiencing stress and many lifestyle-related illnesses, which can dominate our lives if left unchecked. Being fit and healthy offers many other opportunities that you may miss when you are ill, or sluggish from a lack of fitness.
The Opportunity to Make Great Friends
One of the rewards of boxing training is the great friends you will make in this community. Therefore, when you give up on your training, you will miss the opportunity to meet people who share your goals and vision. These people may form your tribe, which will support you and provide you with wonderful memories throughout this journey.
The Opportunity to Fulfil Our Sense of Purpose
Our sense of purpose is the overarching driving force in our lives. It is the “bigger picture” and what we are ultimately aiming for in the end. Our goals serve to contribute toward this vision of our futures and ourselves. Training can form an integral part of our fulfilling our sense of purpose. The qualities developed through training can form the foundation needed to get there.
The Opportunity to be Happy
Aside from the immediate endorphins that exercise provides, training can make us happier long term. As we become fitter, healthier, more successful and better boxers, we cannot help but feel the joy of just knowing that we are living a full, healthy, positive life and the pride of knowing how hard we are working to get there.
How to Evaluate Opportunity Cost
You may have the grasp of opportunity cost. Now it is time to tailor it to your life and your goals.
You need to understand clearly, what it is that you have to gain and lose every time you make a choice as to how you spend your time and resources. Here are the simple steps you can take to make that clear and to be able to refer back to it as needed.
Write Down Your Goals and Evaluate Your True Priorities
There is a huge benefit to having your goals written down and on hand. It can make them feel more official and give you something tangible to refer back to when needed.
Once you have a clear idea of your overarching goals and your sense of purpose, you will find that your priorities fall into place from there. The simple question of: “How is this activity/expense/choice going to impact my long-term goals?” will make future decisions at least quicker, if not easier, to make.
Remind Yourself of Your “Why”
You know what your goals are. However, there are times you lose sight of why those became your goals in the first place. Write down the opportunities you stand to gain when you achieve your goals and the opportunities derived further from those. In short, find your “why.”
Negotiate with Yourself
At various points in your life, you will be forced to negotiate. The hardest negotiations you will have to make are those with yourself. Setting goals requires tremendous negotiations with yourself. Make sure you do not sell your future self short.
For every goal you take on, make a list of opportunities that you will miss and opportunities you will gain, as well as those you are not willing to miss. This way, you are prepared when faced with these decisions and compromises in the future.
How GWX Can Help
At Gloveworx, we believe in a holistic approach to wellness and training. We are all about adjusting your life for training so that training will then change your life for the better. We can help you to prioritize, manage your time and to find the right priorities. All you need to do is step through the door and into the ring.