The Cost of Doing Nothing: Is Sticking with the Status Quo Really Low-Cost?
When I ask salespeople who their toughest competitor is, they usually name four or five competitors they see in the marketplace. Sometimes they get emotional about a competitor who has caused them recent losses. Then I tell them these companies are not their toughest competitor. It is “do nothing,” or sticking with the status quo. The most expensive decision a business can make isn’t choosing the wrong solution—it’s choosing nothing at all. Doing nothing feels safe, rational, and low risk. In reality, it often carries the highest cost, quietly draining value while no one is looking. Is choosing not to act—or remaining with...