Significant Career Lesson From A Solutions Engineer And Entrepreneur
Shafqat's most significant career lesson is the "opportunity cost of inaction," highlighting the lost potential revenue from delaying entrepreneurial pursuits; this underscores their philosophy of starting early and learning through doing.
Entrepreneurship, Opportunity Cost, Proactive Approach, Business Ownership, Delaying Action
Advizer Information
Name
Job Title
Company
Undergrad
Grad Programs
Majors
Industries
Job Functions
Traits
Shafqat Huq
Solutions Engineer & Business Owner
AAZ Consulting, LeadBuddy, & Go Task-Free
Arizona State University (ASU) - W. P. Carey
N/A
Finance
Technology, Advertising, Communications & Marketing
Operations and Project Management
Took Out Loans
Video Highlights
1. The opportunity cost of inaction or delayed action is significant. Don't delay starting something you want to do (e.g., launching a business) due to lack of funds or experience; start early and learn as you go.
2. There is a financial cost to delaying career goals. Every year of delay represents lost potential revenue or experience.
3. Taking action early, even without complete preparation, is crucial for career growth and success. Embrace learning through doing.
Transcript
What is one lesson you have learned that has proven significant in your career?
I would say the biggest lesson, and this is definitely an economic term, but I've seen it applied in real life: the opportunity cost of inaction or delayed action. This just goes back to my answers from previous questions.
There is an opportunity cost associated with not starting something of your own and delaying it. For every year or two you continue to delay, saying, "I'll launch my own business when I have this much money saved up, or after I get to this certain point of experience," there is a certain value you could have been earning in revenue.
So, it just goes back to the point of getting started as early as possible and figuring things out as you go.