I was reading a book by David Leddik called “I’m not for Everyone and Neither are You” which is teaching me a new outlook. He has a quote in the book that says “Spend on luxuries. The necessities will take care of themselves.” While this may not mean anything to you, I found out that it is true.
I’ve taken expensive vacations that gave me an experience I will never forget, and it was wonderful.
However, this also applies to projects at home or at work. How many times do we do things the hard way only to find out if we had the right tool it saves us time and effort.
I remember once I was working for a smaller company and I requested a very expensive piece of test equipment. My argument was that if we got one now we could get more work early, (which we did). I had to get the owner’s approval and he gave it rather quickly.
The reason I thought of this is because when I thanked him, he told me not to worry about buying expensive tools that set us apart. He said that is what makes us look better than the competition. We are showing our customers that we are a better company, an elite company. It sets us apart from the amateurs. Lesson learned.
The equipment paid for itself in a few months, everything after that was profit, even with maintenance and calibrations. It became valuable and gave our company an edge.
I think of this when I buy a new laptop. If it can do more and is affordable, then it’s worth it to improve my productivity. Budgets matter so I can’t always get what I want, but I get what I need. Enough to make me a little better than most.
I worked for companies (and with partners) that are so afraid to spend money that they often shoot themselves in the foot. They overlook what the customer wants or is willing to pay for because they don’t want to spend money on tools that would improve the business. I call it an investment and they call it an expense. If you can prove the business case and show the income, then get it!
Cheap is self destructive. I have seen employers avoid training people just to save a few dollars only to come back to burn them in the long run. In the tower business, you see owners take shortcuts all the time, especially in training and safety gear. That result can be disastrous!
This makes me upset that leaders are so irresponsible sometimes. I know they want to save money for the company, but I believe they are hurting the company in the long run just to look good in this quarter, on paper at least. That and the trust factor drops.
Trust is a huge issue. I hate it when companies are dishonest, especially to their workers who are supporting them. Trust should be a key virtue anywhere you go.
Meanwhile, if the company is suffering, they have to make cuts, and who do you think will be cut? Probably the cheapskate who takes shortcuts and has diminished results showing.
At home it’s the same way. Buy a tool if it makes your life easier. Who doesn’t have a cordless drill today? I had 3 at one time. Each one served a purpose, I used to do a lot of physical work, not so much anymore. I have given them to my kids or sold them. However, at the time, they saved me countless hours and made my life easier.
Get the right tool for the job, save yourself time and aggravation, and be happier in the long run.
Improve the quality of your product and your life.