Have you ever heard the phrase “you have to spend money to make money”? When you bring fear into the equation, and sock away what you have, it cheapens what you do.
Especially if you are starting a new endeavor. Of course you have to spend money. Nobody ever started a business without spending something. Even if you get a loan, you are paying it back, so you are spending that money, you are not holding onto it and sitting back wishing for success. If that’s the plan, I’ve got something to tell you...
It takes hard work, and hard-earned money, mixed with innovative ideas (blood, sweat and tears) to become successful. When consumers hold back money, they’re sending a message, and the company is damaged. Likewise, when a manager holds money back and doesn’t pay their bills, their people or bring in a top notch product, the company is also damaged, and will in turn, lose money.
A simple equation exists. If I go into a store and it’s dirty, I turn and leave. If I go to a restaurant overcharging for items like selling a few pieces of lettuce and some dressing as a salad, I probably won’t return. And if I listen to a boring radio station without live talent (emphasizing the word talent) AND something original to say, I’m switching the dial or listening to a podcast.
I’ve said this before in this space, people are so dispensable, and they shouldn’t be. Anything low quality, including top managers is a huge red flag. And paying people and selling a quality product should forever be a top priority. Cheap labor, is cheap business. Cheap products eventually put you out of business. You’ve got to spend to reap the rewards. It’s classy, it pays off, and it’s good karma.
