Overwhelm’s Opportunity Cost

Although most academics, non-profit executives, and leaders in government agencies are not used to thinking about what their time (and energy!) are worth, you are wise to begin doing so.?Acknowledging your value is key as you determine how you will ask for an investment in coaching. ?In this series of articles, we’ll consider what happens when a professional is trying to operate in complete overwhelm, which is a common opening situation for someone seeking coaching.?

First, let’s think about the “opportunity cost” of (trying to) operate in overwhelm.?

Opportunity cost is a term used in economics, sometimes related to making financial investments.?For our purposes, let us use the similar formula to figure opportunity cost.?

Opportunity cost = Return on the option not chosen - (minus) return on the option chosen.?

For example, let us say that overwhelm prevents you from making a strong application for a foundation grant of $250,000 that funds projects exactly like what you work on.?The situation includes the fact that this foundation emailed you about the funding cycle, so you’d be sure to know.?When you subtract the option chosen (which involved you scurrying around, dealing with backlog, lying in bed because you had gotten sick from exhaustion, etc.) that involved $0 coming in, then your opportunity cost in this instance is in the vicinity of $250,000.?Can your organization afford for you to continue operating in overwhelm??

Let’s look at some real numbers for what it costs to have overwhelm as an ongoing part of your professional life:

Lost opportunities, e.g.,

• Being able to submit solid grant applications;
• Missing award deadlines or submitting substandard applications;
• Not being able to accept additional clients who are eager for what you offer;
• Being unable to join an ongoing project when someone else leaves;
• Needing to turn down a co-editorship of the flagship journal in your field;
• Declining a meeting with a key donor;
• Brushing off your teenager when he is finally ready to talk because you are so far behind on a key work project;
• What else have you lost out on when you were trying to function in a state of overwhelm??

These missed opportunities have a cost.?Get out your calculator and run the numbers for yourself.?Depending on someone’s discipline, if they can’t submit a grant, the opportunity cost could range from several thousand to several million.?The indirect back to the university is significant (remember to highlight this when you are asking for the investment in your coaching).?Give some real numbers about what it is costing and why you are seeking this person’s support for your coaching.

I have a publication series (available to you at no cost) about how to acknowledge your value when you’re asking someone to pay for the coaching support you’re requesting.?Feel free to take a look here and see if one of these publications would be helpful to you.?https://meggin.com/coaching/#makingtheask?

About Meggin McIntosh

Helping people reframe their limiting beliefs is a big part of the joyful work I do as a coach. Sometimes I offer group coaching in addition to working with individual clients. It's amazing to watch people generate reframes for a belief that has held them back in the past.

I am thankful every day.