The cost of doing nothing is famous sales rhetoric. It’s also a real thing, although it seems to smack of Monday morning quarterback.
The cost of doing nothing just ponders the idea of lost opportunities and revenue if new avenues are not pursued. Also, the things we’re doing now may have a crash course in the future, and not redirecting how we do them is then disastrous.
So if you know what your business will do in revenue without changing a thing, the questions is what revenue is lost by not taking steps to grow? If new initiatives are not launched, what lost opportunity cost are you looking at?
The fact is you only get one Q1 for this year. and you only get one Q2. You can’t go back and start doing something that now gives you great results in Q3 if you didn’t pay the price and make those changes happen. And you pay the price in advance, unless you have a time machine.
The cost of doing nothing can be quantified if you look at new people you onboarded, and new initiatives you brought forth, and going back to the day you started them, and erasing all the experience and profit you gained, you get a sense of the concept.