Too Cheap to Take Our Own Advice

Most of us, especially those starting out in business, are averse to spending money on the tools of our trade. We know we have to buy these things, but we’re often fooled (by ourselves) into doing it on the cheap.

All tools, like everything else in our lives, have a cost/benefit relationship. We’ve been conditioned to expect that this cost/benefit ratio follows a linear rise, and quite often (but not always) it does. The cheaper something is the less value it provides, and we can usually expect more value from more expensive things.

Why is it then that we insist on pinching pennies on things that can have an oversized impact on our success?

New business owners often purchase the cheapest software they can find, reasoning that they can make it work “just like the more expensive one.” If we waste our money and time trying to get something to perform like something else, only to be faced with frustration and regret, are we really saving money?

When a client tries to get us to lower our prices to match a cheaper (and inferior) competitor, we laugh them off and tell them that “you get what you pay for!”

Isn’t it time we took our own advice?

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