The Opportunity Cost of Time.
Another day, another 24 hours of talking, strategising, plotting, and fire fighting around distractions.
In the UK it is Brexit, now morphing into a constitutional fight that threatens the great nation’s very stability. Brexit has been a virus spreading through the body politik for 3 years, 3 Prime Ministers and countless wasted sessions in Parliament. But time is finite, it waits for no one and one day spent on Brexit is one day not spent running the country. And Britain’s economic problems are growing. Business defaults rose to their highest level last month since 2014, despite short term interest rates at 0.75%!
At the White House today’s “pressing issues” might include redefining Alabama’s weather forecast yet again, promoting sales at Turnberry golf club in Scotland, and coping with a stream of salacious but no less time consuming legal complaints against the President. One day spent at Turnberry is one day that could be spent running the nation. As it is the Unted States is in danger of talking itself into a recession. Confused by the Foreign and Trade poilicies, US manufacturers are cutting back on investment. The Administration has created an uncertainty that makes businesses hesitate to invest.
Great leaders know their success comes from optimising the use of their most precious asset, from focussing on their core imperatives and their maximisation of time.
It is hard to see that being done today in the UK or the US.
Have a good day, James