We received this quote in an e-newsletter aimed at the construction/contracting industry, and it struck a chord with us. The philosophy would serve not only business owners well, but perhaps some of those entrusted with our civic budgets as well...
Always keep the attitude of: "Where can we save", not "Where can we cut".
The attitude of "Where can we save" means thoroughly analyzing the subject at hand. What is it, where and how is it used? Can we use it differently or in conjunction with other things? What can we do to reduce the cost of owning or operating the item? Can we extend its life, can we reduce the maintenance required for successful operation? Saving costs requires taking a long-term view and making a smart, well-thought out decision.
The attitude of "Where can we cut?" is an emotional reaction. It means eliminating something completely so you can save money today, but it doesn't take the long term view. Normally this happens after little thought to anything other than eliminating that expense.
The two are as different as daylight and dark and the prudent contractor will always focus on saving rather than cutting.
In the interest of full disclosure, this e-newsletter quote came from Michael Stone, who has written a number of books for the construction trade. His website is www.markupandprofit.com
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment