Cost-benefit analysis for change

If you’re considering a change that will either require immense effort to implement or will have obvious obstacles and downsides, it’s good to start with a cost-benefit analysis. This can help you decide whether to pursue the change in the first place, and it can keep you motivated once the going gets rough. (It often does get rough, sorry. Change is awkward.)

To do this, I recommend using a simple two-by-two matrix with costs and benefits for status quo and change. As you fill it in, consider:

What can you expect if you continue with the status quo?
How does that impact your revenue, costs, productivity, work quality, opportunities, outcomes, energy, happiness, and values?
What do you stand to gain and lose if you pursue the change?
How does that impact your revenue, costs, productivity, work quality, opportunities, outcomes, energy, happiness, and values?
Which are short vs. mid or long term impacts?
Overall, does the change merit the effort of transition (mental, physical, and emotional labor)?

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