The Cost of Standing Still
Kavita Bothra
Mentor of money matters | Founder - Primassure LLP | Inspiring a thousand families onto the journey of financial liberation, one step at a time. Writer -SundayReads | I write on Behavioural Finance | Retirement Solutions
#SundayReads
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Welcome to this week’s edition of the SundayReads.
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In the whirlwind of life, inaction often lurks as a silent saboteur, quietly gnawing away at our prospects and peace of mind. Each of us, in various spheres of life, has faced those pivotal moments where taking a step could have altered the course significantly, yet we hesitated. Here are some narratives, including my own, illustrating the high price of inaction.
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In our BNI networking group, we recently decided to chart our business targets for the upcoming financial year, expecting substantial business from group referrals. Yet, when the time came to share our targets, only 60% had actually formulated a plan. Sudeep and I took the initiative to offer help to some business owners who were lagging, offering to assist them in setting up a viable plan. Their response? Laughter and dismissal.
Inaction!
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After returning from the US nursing a knee injury and extra weight, I found myriad reasons to delay my gym regimen. Be it the impending trips or the sporadic rains, every excuse seemed valid enough to postpone my fitness goals.
Inaction!
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Within the corporate sector, swift and precise decisions are not just an advantage but a necessity. Uttam, a business owner, perceived an upcoming market shift that threatened his business foothold. Despite understanding the urgency, he hesitated, letting fear dictate his pace. This delay cost his company dearly in customer trust and financial stability, as competitors capitalized on the shift and surged ahead. The repercussions of his inaction manifested as lost revenues and a diminished market reputation.
Inaction!
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In familial settings too, the price of inaction can be steep. Take the case of Indrani, who noticed her teenager growing more distant day by day. Instead of stepping in, she chose to wait, hoping he would come around. But time only widened the gap, with her son retreating further into isolation, his academics taking a hit.
Inaction!
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In the realm of relationships, the silent treatment can sometimes fuel the flames of discontent and misunderstandings. Deep and Rita, once a happily married couple, found themselves entrapped in a vicious cycle of escalating conflicts. Rather than tackling the issues head-on, they opted to ignore them, which only bred more resentment and mistrust. Their inaction, unfortunately, led them to the precipice of separation.
Inaction!
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In my line of work, I frequently encounter individuals who delay vital decisions, such as opting for sufficient health coverage. Mr. Rohit, a regular client, would annually discuss upgrading his health insurance but never followed through. This year, a medical emergency resulted in a hefty bill, a substantial portion of which could have been covered had he chosen to increase his coverage earlier.
Inaction!
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I can cite many such examples from my experience where clients keep procrastinating about either starting their investments or adding additional sums as per the plan, increasing their health coverage or even developing your own social circle. The cost of delay is huge and unfortunate!
Inaction!
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Each of these stories underscore a glaring truth - the silent yet potent repercussions of inaction. It is indeed an invisible adversary, manifesting in lost opportunities and escalating crises, be it in the business realm, personal relationships or individual growth.
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If you see someone failing to take action, it tells you they don't know the cost of inaction. Just because the cost of inaction is invisible doesn't mean it's not real. What happens if you don't take action? Nothing.
The cost of inaction is the status quo. If you're ok where you are, then you don't need to do anything. But if you want to get to the next level, you need to understand the cost of doing nothing.
Action is expensive, but inaction costs a fortune.
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As we sail through the intricacies of life, it becomes imperative to cultivate a readiness to act, to recognize those junctures where making a move, albeit a little uneasy, could potentially forge pathways to better outcomes. Whether navigating the corporate currents or steering personal relationships, understanding and acknowledging the latent costs of inaction can indeed spur growth, harmony, and success.
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Let's remind ourselves that standing still is often not the safer option. The ramifications of inaction often come with a hefty price tag, sometimes affecting our personal well-being, financial stability, and harmonious relationships. Thus, as we forge ahead, let's commit to embracing actions that propel us forward. Because, at the end of the day, the cost of not taking a step can be far greater than taking one that leads to growth and happiness.
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Until the next week and the next SundayRead, ciao.
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Warm regards
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Kavita Bothra
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Helping you think thoughts you may not ha thought before.
Sales & Distribution Strategist | Driving Revenue Growth & Market Penetration | Transforming Market Strategies into Profitable Results | Building Strong Partnerships for Lasting Success
1 年many thanks Kavita Bothra for this... Begin while others are procrastinating.?Work?while others are wishing... The only difference between success and failure is the ability to take action...
Head Passive Investments & Products. Previously: CEO & CIO - DSP BlackRock Pension Fund Managers
1 年Great insights with personal example ! Just because the cost of inaction is invisible doesn't mean it's not real. Thanks for sharing Kavita Bothra ??