Practice what you preach.

-JB-

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This was shared by a friend of mine who is relatively new to the business, with insight like this, he will/is doing great.

It is unwise too pay too much but it is worse to pay too little.
When you pay too much, you sometimes lose a little money, that’s all.
When you pay too little, you sometimes lose everything, because the thing you bought was incapable of doing the thing it was bought to do.
The common law of business balance prohibits paying a little and getting a lot - It can’t be done! If you buy from the lowest bidder, it is well to add something for the risk you run, and if you do that, you will have enough to pay for something better.
 

-JB-

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O,
it is absolutely a different way of thinking form the norm, that's for sure, and to most including myself it is DEFINITELY not the first instinct.
 

RichardnTn

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Here is what I tell people and practice myself...

"If you want good, clean oats,
They will cost you a fair price,
But if you want oats that have already been through the horse,
I can sell them to you cheaper..

Richard Robinson
 
G

Guest

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Some people cannot differentiate between "cheap" and not paying too much. One person is happy wearing Walmart shoes for $25 instead of $80 Nikes. He won't care/realize that he'll be buying a new pair every 2 months instead of once a year.
 
F

FB7777

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I get the overall premise of this thread but it is not true universally.

Sometimes you are paying for branding and marketing and not quality of workmanship.

Home Depot sells the same drill as the local merchant and possibly for 30% less... do you HAVE to purchase it from the local guy because of his knowledge of how the drill spins?

Keep the cliches coming though, I've got another one

Some of you are talking out of both sides of your mouth.
 

joey895

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freddyb said:
Sometimes you are paying for branding and marketing and not quality of workmanship..

Freddy sums it up. You have to use your head. More money does not necessarily mean better product.

I prefer to buy the best value. Sometimes it is the most expensive, sometimes it may be the cheapest, but usually it is somewhere in between.

It also depends on what you're buying. If I am shopping for a parachute I would probably buy the best money could buy regardless of price. If I am shopping for an ink pen I may be willing to settle for something a little cheaper.
 

-JB-

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Joey,

I prefer to buy the best value. Sometimes it is the most expensive, sometimes it may be the cheapest, but usually it is somewhere in between.

It also depends on what you're buying. If I am shopping for a parachute I would probably buy the best money could buy regardless of price. If I am shopping for an ink pen I may be willing to settle for something a little cheaper.

I'm assuming you have a couple of years under your belt, because if not you are wise beyond your age.


This sure is a great forum for discussion, so many different points of view, it's very cool.
 

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