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It’s been a busy week for me. I have received not one, but two opportunities this week, both of them very attractive. As it stands right now I have accepted one, and am considering the other, which brings me to the subject of this article: how do you go about evaluating an opportunity?

When I say “evaluate”, I’m not referring to due diligence. I’m talking about something a little more fundamental: How do you decide if an opportunity is right for you in the first place? The first opportunity was easy to accept, because it is in an area I am already active in, and involves doing something that I was already planning on doing anyway. That made it a no brainer.

The second one, the one that I am still thinking about, is a different story. There are a few questions that I need answered before I can truly decide yea or nay, but my preliminary evaluation is a solid “maybe”. I have been asked to participate in something that I am already involved in, that’s a plus. However, the participation is auxiliary to my central mission, and I’m not sure that it will serve to advance my primary goals. That’s a potential negative.

(My apologies for not elaborating on these opportunities, but the rules of confidentiality apply. Sorry)

I think that the determining factor will probably wind up being one of time considerations. How much time will this take, and how will it impact any other projects I am involved in? This is where opportunity evaluation really comes into play.

To properly evaluate whether or not a particular opportunity is for you, you must measure it against your existing goals and plans. Now bear in mind that not all goals are financial or career oriented. For many, ego rewards are a much more powerful form of payment than cash could ever be. The positive feeling that you get from volunteering can be a powerful motivator to spend hours at the local women’s shelter or food bank. The emotional boost that you can get when you have written a particularly brilliant article or story can be just the thing to keep the starving writer going.

The admiration of one’s peers is one of the driving forces behind the entire open source movement. Think about it: tens of thousands of programmers contributing to free software for no other reason than other programmers will recognize their efforts.

Whether your goals are financial or ego oriented, there is only one question you need to ask yourself: Will this opportunity serve to further my goals? Will it detract from them? Perhaps it will have no effect at all. Is the time and effort invested in a particular opportunity going to pay off enough for you to participate in it? Answer that question, and you will know what to do.