Buying The Wrong Things Can Kill Your Business Success

Buying The Wrong Things Can Kill Your Business Success

Dr. Linda Hancock

ABOUT THE AUTHOR

Dr. Hancock has written a regular weekly column entitled “All Psyched Up” for newspapers in two Canadian provinces for more than a dozen years. Over the years, her readers and clients have said that they have benefited from her common-sense solutions, wisdom, and sense of humour. Dr. Linda Hancock, the author of “Life is An Adventure…every step of the way” and “Open for Business Success” is a Registered Psychologist who has a private practice in Medicine Hat. She can be reached at 403-529-6877 or through email office@drlindahancock.com

Published

February 22 2011

When you begin a business, especially after years of preparation it is tempting to invest some of your start up funds into the "bells and whistles" that offer a little luxury. I remember when a friend told me, after I had convocated with my doctorate that it really didn't make sense for me to be driving a Chevy Sprint. She suggested that this just didn't seem very doctor-like. Because my car was thirteen years old, I was ready to replace it anyway so I purchased a new car.

Sometimes people have an idea in their heads as to what their environment "should" look like and whether they can afford it or not, they decide to try to create that world around them. Unfortunately, dreams are usually expensive and, if wisdom is not used, it doesn't take long until the dream is tarnished by debt and rising interest,

There is nothing at all wrong with working to purchase the dreams but, the best way to do that is to put the work first and then purchase everything with cash. That way, the stress will be reduced and the achievements more meaningful.

A business is kind of like having a beautiful riding horse. If you feed the horse and take care of it, the animal will let you ride it to whether you want to go. On the other hand, if you do not take care of the horse, you will soon be walking.

You need to feed the horse and take good care of it and it, too, will take you wherever you want to go. That means that you will need to ensure that the basics are paid for. You need to keep a sharp eye on the needs of the business and constantly think about how you can improve it. Computer technology, for example, can be a very valuable tool and might greatly streamline your administrative operations. It is not the price of the computer or the software, however, that is important. It is actually whether it does the job that you expect it to do.

Think about your business. It is like your best client. What does it need in order to do well? You see, that's what it is all about. If you find out what it needs and take care of it, then it will help you to take care of other people who are your clients. Then it will all take care of you. What a beautiful circle of caring!