In today’s economic climate buying things as inexpensively as possible is important to the average small business owner. While on the surface this statement sounds logical, it may be the wrong solution to growing a business.
Yes, there are a few items that should be bought as inexpensively as possible; office supplies are an example. There are, however, things that should not be price shopped because they may hurt a business in the long run. The following is a partial list of items that should be bought to fill a need and should not be compromised due to price.
- Software that can systematize your business, provide better service to your customers, or gives you more free time to focus on your business.
- Computers and printers that can handle all the programs you need
- Computer technicians
- Web page designers
- Consultants (coaches and business planners)
- Attorneys and CPA’s
You may not be able to afford the top of the line in all of these categories, but the list should be prioritized by which one will provide the greatest immediate benefit. Then, the top item should be purchased as funds allow.
Add to the list I started and then prioritize them according to your needs. Take the necessary time to define exactly what you need in each category and then you can get competitive prices that meet all your specifications.
Don’t get caught up in the “moment” when you have a few extra dollars; avoid the impulse to purchase the first thing that comes to your mind. Think about your list and act according to your plan.
Destiny is not a matter of chance; it is a matter of choice. It is not a thing to be waited for; it is a thing to be achieved. William Jennings Bryan
Nick J. Petra CFP subscribe to this blog at www.strategicduck.com