I love quotes, don’t you? Can’t find the source of this one, but it’s worth a little mulling over:
A poor man asks, “How much will it COST me?”
A rich man asks, “How much will it MAKE me?”
That’s a vivid way of pointing out thatsome purchases are simply expenses and quickly used up, pointless, useless or gone, while other purchases are investments. Think about what you’ve bought for your business recently.
A shopkeeper I know was really proud of the incredibly low price she paid for an entire wall of shelving she bought at a going-out-of-business store. And it was cheap! Trouble was, she wanted to display shoes and the shelving was very deep. So what she got was a square-footage hog that hid, in its shadowy depths, the very merchandise she wanted to show & sell. She was so overwhelmed by how little it cost her, that she didn’t stop to think if it would make her anything (and in fact, it cost her in lost sales and wasted space.) No bargain, was it?
Another example: I just got a message left on my phone by an outraged man, who asked me how I dare sell TGtbT The Manual for $76.95.”That’s ridiculous when I want to start a store that saves people money, that you charge so much!” He was so overwhelmed that an operations manual cost more than a paperback novel, that he never stopped to think how much that investment could make him. The value of a business purchase is in its usefulness to the task at hand. In his case, learning to open, operate, and make profitable a resale shop.
So, next time you’re thinking of a purchase for your business, take a breath and think: Have I considered how much this purchase can make me, or am I simply looking at the price? Is it a bargain simply because it’s cheap…or will it help me accomplish something that is worth many times the price I have to pay? We all know, as resalers, that something useless is not a bargain at any price (well, until we resell it in our shops to another person to whom it’s a treasure! LOL)
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