Definition: What you have to give up when you choose between options.

Insights:

1. Opportunity costing is the most important thing in business.
2. Opportunity cost is not limited to financial cost. Often the most important cost is time, especially for entrepreneurs.
3. When starting out in business, making the right decision is very important. The wrong decision can set you back weeks, months, or years.
4. The more success you have, the more opportunities.

Insights:

1. The Art of War by Sun Tzu is about strategy, not tactics. Although the book is old it is still relevant because strategy never goes out of style.