Only What You Need

Have you started a business? Congratulations! You are about to have more friends than you ever knew existed. They’re not really there to buy your products, they are there to sell you something. And to top it off, they have seminars, webinars, teleconferences and email funnels that will explain to you exactly why you cannot live without what it is they want to sell you.

It’s your job to look in the mirror, and ask yourself, “Do I really need this? Can I really afford this? Will it really do what they say it will do?”

Do not let yourself or anyone else push you into a decision for something your business is not quite ready to use or even afford. Let your business pull you in. Purchase what the company needs when you have to have the item for better Return on Investment (ROI).

If you have ever read about Value Stream Mapping, you know that there are push systems and pull systems. You see this when you go to different fast food establishments. In some fast food restaurants, they push French fries by making them often, whether somebody is there to purchase or not.  They end up with old fries that have to be tossed, and the establishment loses money because of it. On the other hand, other restaurants use a pull system where they cook the French fries when someone is there to buy them.  They save money and have customers who come back for the fresh fries.

If you run a push system for people or things that are not present, you find yourself always spending money. It’s very possible to go broke fast using that system, having to pay for software, offices, employees, and other items sitting on the shelves and going stale before you have the demand you need to utilize them. The trick is to run the business as it stands now. Be ready to move forward when the time comes.

Let the business pay for what it needs.  If something is necessary to keep making money, let the business pay for it. 

Author: Mike Balof

A retired Air Force Master Sergeant, Mike used to lay in bed at night and worry about what would happen if his plant closed or found himself without a job. One day his plant closed. Rather than panic and hysteria (OK, maybe a little) Mike found himself carried away on the adventure of his life. Mike started with the best job he ever had working at Home Depot. He spent 8 years working with job seekers at a local workforce center, helping them to find employment. He then started his own company developing courses, writing books and urging others to follow their own paths into the future. Mike holds a Master of Arts in Adult Education and Training and a Bachelor of Business Management, earned through the University of Phoenix and an AAS degree in Electronics Systems Technology from the Community College of the Air Force. Mike is a member of the Delta Mu Delta Business Honor Society. View all posts by Mike Balof