Imagine that an electric company wants to build a loud, ugly power line on your property. They ask, “How much would we need to pay you to make this happen?” You’d probably demand a lot of money.
Now imagine that that power line already exists on your property. How much would you pay the electric company to get rid of it? Would you pay the same amount — or less?
Most people insist on a larger payment to build the power line than they’d be willing to pay for its removal. This difference is an illustration of status quo bias, a cognitive trait most people share. When presented with a potential change, we usually weigh the potential losses more heavily than the potential gains.
This tendency is completely understandable. Unfortunately, it can also prevent you from getting ahead.
Stop resisting the change and take a leap. This is the big issue many indians are facing in this economic hard times. The below passage should be memorised by every youth.
Change is ubiquitous in most facets of our lives. On a basic level, you will likely change jobs more often than you might predict. In a recent study, the Bureau of Labor statistics found that the average person in their sample held eleven jobs between the ages of 18 and 46 — meaning a job-switch once every 2.5 years.
Sooner you adapt, sooner you can move on or the world will pass you by.
In sum, be prepared to learn new skills, take advantage of new trends, and adapt to unforeseen crises — if you don’t, you’ll be left behind as the world changes without you. But never lose focus on economic fundamentals and, especially, your own personal integrity.