The human mind is wired to seek comfort and stability. We are creatures of habit and routine, and we like to stick to what we know. But sometimes, maintaining the status quo will hold you back. In fact, continuing to do what you’re doing can hinder you from achieving your goals and reaching your full potential, and may actually be hurting you.
The Dangers of Stagnation
One of my biggest fears in life is complacency. It terrifies me to think that I can blindly go through life, and find that 10 years have passed with little to show for. By continuing to do what we’ve always done, complacency can creep in and we can settle for mediocrity. By maintaining the status quo, it becomes easy to ignore both the costs of your current path, and the potential gains of changing course.
Let’s think about this in a real world example that is a common conversation point in Canada: Pipelines. So often with the conversation on pipelines, the focus is on the impact of the change – the construction and usage of the pipeline. But what we often fail to consider, is the status quo and the costs of what we’re doing right now. Currently, the oil that would be flowing through pipelines is transported by rail, and by switching to pipelines for long distances, we can reduce greenhouse emissions by 67 to 77 percent.
Similarly, on a personal or business level, we tend to focus on the impact of the change – What are the costs and benefits of this new opportunity? For example, the costs and benefits of switching jobs. But what we fail to do is consider what the impact of maintaining the status quo. How can failing to make this change have a negative impact?
Failure to Recognize the Costs of Maintaining the Status Quo
I get it. Change is scary. We are often trading the familiar for the unknown. This takes sacrifices, and that can be hard to do. But with that said, since the status quo represents what we know and are familiar with, it’s not always easy to see the potential damages of continuing down that path. We are good at thinking about effects of the change, but not the costs of maintaining the status quo. There are two keys costs to think about: the damages that can result from what you’re doing now, and the opportunity costs of not making a change.
Think about your career – if a new opportunity comes along, it’s easy to compare salaries, or how the work compares to what you’re doing currently, etc. We think about the costs of making the switch: building a new routine, sacrificing relationships, building reputation at a new organization, and the feeling of starting over. But we don’t always think about the cost of not making the switch. Failing to pursue a new opportunity could cost you money in the form of reduced income (and future income growth), it could cost you increased job satisfaction by failing to pursue interesting work, and it could cost you growth opportunities if you’re approaching a ceiling in your current role. Maintaining the status quo has impacts as well.
When approaching change, it’s important to weigh both sides: the costs and benefits of making the change, and the costs and benefits of not making the change. Failing to make the change may be costing you more than you think…
How to Embrace Change
While change can be intimidating, there are ways to make it easier (in fact, I’ve got an article on that topic: The 85% Solution – How to Take Action on Hard Tasks, and Get Moving In The Right Direction):
- Start Small – Not every change has to be groundbreaking, such as starting a new job. To get comfortable with change, you can start small with things like making a change in your daily routine, or taking a different route to work. Challenge yourself to embrace these small changes, and you’ll find the bigger changes become less daunting.
- Be Open Minded – Approach new changes with an open mind. Don’t let fear or preconceptions hold you back, and be open to having your mind changed. By being open minded, you may be surprised at what you discover.
- Learn From Your Mistakes – Not every change will be successful, and that’s okay. Embrace any failures as learning opportunities, and embrace the fact that failures can’t keep you down. This will help to make future changes easier, as you know you can always get back on your feet. Learning from failures also helps you make better decisions in the future.
Conclusion
While it can be tempting to stick to what we know, maintaining the status quo can hold us back from reaching our full potential. It’s important when evaluating opportunities to consider effects of both making, and not making a change. There are often hidden costs of maintaining the status quo. By embracing change, we iterate to continuously improve, finding opportunities and habits which lead us to growth and progress in our lives.
Challenge Yourself by Not Maintaining the Status Quo in the Pursuit of Wealth
Making changes and iterating is key to making progress in life. This progress can aid you to build wealth in your financial life, your fitness, your relationships, or your knowledge. I challenge you to examine your status quo, and think about how this can be costing you. Push yourself to make changes to be better. Start investing, pick up a habit that keeps you healthy, or make that change that you’ve been putting off!
Looking for more? Check out my article on making Progress In Multiple Dimensions: How to Improve your Growth Mindset