Philosophy

Time is money... or is it more than that?

I always talk about bang for your buck with patients or people I am training. People can grasp that they want to get the most value for the paid dollars or for their time as they can. To be most effective in any one aspect, it only makes sense to focus the most on those aspects that will achieve the most sufficient results. Stephen Covey lists it has one of his 7 habits of Highly Effective People: “Do first things first.” What happens when we don’t do first things first?

What I did not realize was that there was an economic term for “bang for your buck,” which is “opportunity cost.” Opportunity cost is essentially what you have to give up in order to make anyone decision. In my personal life, having a job costs me the opportunities of having free time to read and spend time with friends. In chiropractic, the time I spend playing games costs me opportunities to learn new techniques or adjusting people. No choice is either right or wrong from person to person, but individually, each choice does bring us closer or farther away from our goals in life. Continue reading “The Opportunity Cost of Our Time” »