[End of summer sale details below]
Let’s say you’re walking through the mall and you see a chair that you’ve always wanted on sale. It’s normally $629 but today it’s only $329.
Great deal, right? You kinda need the chair because your old one is, well, old. You’ve never seen it on sale so this is a rare opportunity. Plus, though you’re not rich you can basically afford it.
Do you buy it?
Well first of all you should be working from a budget… but let’s say this fits your budget. Here’s what to ask yourself:
“Is this the absolute best use of $329 in my life right now?”
If it is, buy it, if not, don’t.
What this question does is put things in perspective. Another way to ask the same question is this:
“Forget the chair for a moment, if I were at home with $329 would I go look for this chair?”
Again, if so buy it. If not, don’t.
Now let’s take this to a more consequential level. You have an employee to whom you pay $35K/year, but you have questions about his performance.
“If you did not already employ this person and you had $35K to spend on… something, is hiring THIS person to do THIS job what you would do now?
“Is this employee my BEST use of $35K?”
If so, keep him. If not, don’t. (Or at least reconsider, in HR there are other concerns as well. The key is the perspective).
I was once in a guitar store with a friend named Mike who was trying out a Taylor T-5. He loved it. It was $1,100. It came down to decision time. The salesman watched Mike and he was not sure. He asked me, “What do you think?”
I said, “Well you tell me, is buying this guitar the BEST use of $1100 in your life right now?”
It was like the lights went on… NO! He had other family necessities.
Of course, the salesman hated me, but Mike was so thankful.
Now, this doesn’t mean don’t ever buy it. This purchase may very well be the best use of that money at that time.
The key is to put the purchase in perspective, not make impulse decisions, and not make rationalized decisions.
Before making any expenditure, step back and ask, “Is this the best use of this amount of money in my life right now?”
Please share this!
Live Truly, Truly Live,
Mike
In the spirit of this tip, this week is Mike’s End of Summer SALE. Everything – “What IF?” Books and DVDs for your team, Carnegie Hall live, guitar instrumental CDs – is 40% off through Sunday, Oct 28 at midnight. It’s a rare opportunity to share Mike’s innovative message and entertainment with friends. Use the promotion code: WHATIF
