Every Choice Has an Opportunity Cost - Maximize Your Returns

As John Doerr reminds us in Measure What Matters, every time we choose one action, we are inherently deciding not to pursue other options. So how can we ensure the choices we make maximize productivity and deliver the desired results? Ayelet Fishbach's book Get It Done: Surprising Lessons From the Science of Motivation provides a roadmap. 

Many people willingly spend $75 on an entree at a high-end steak house, yet go to great lengths to avoid paying for parking. Fishbach notes this reflects our tendency to invest in the glamorous goal (the fancy dinner) while skimping on the mundane means to achieve it (parking fees). For better success, set goals focused on the appealing end benefit rather than the tedious process. Losing weight inspires excitement, while dieting and exercise feel like chores. 

Achieving goals becomes far easier when the journey is enjoyable - what Fishbach calls "intrinsic motivation."  Listening to music makes a run more fun. If exercise bores you, find an inherently enjoyable physical activity like tennis, dance classes or hiking. 

Moderation frequently derails goals, as "having just one drink" daily accumulates over time. To avoid this, Fishbach advises making decisions that impact multiple instances at once. You're more likely to stick to a diet by committing to eat salads for lunch every weekday for a month rather than deciding anew each noon. 

We also perceive time inconsistently - most would take $100 now over $120 in six months, yet prefer $120 in 18 months to $100 in a year. Build in delays to avoid this present bias towards smaller immediate rewards. 

Finally, goals are easier with social support, as helping others satisfies our need for connection. Partnering with someone to lose weight, get into shape or spend more time with those who are most important to you increases motivation versus going solo. 

Applying insights around priority-setting, intrinsic rewards, pre-commitment, time inconsistency and social motivation can ensure we spend our limited time and energy squeezing maximum "juice" from life's endeavors.