In the song "20 Dollar" world music artist M.I.A. proclaims that "20 dollars means sh!t to you." Think about it. How often does twenty dollar bills float in and out of our wallets? We spend amounts of money that in most countries could feed a family for a week. Since money and food is abundant in the United States, the human condition adjusts to your environment.
Like that Gym Membership, is it worth it? Well, do you go three times a week or more? If you do, then it is. Think about the money you'll save in the long run with less trips to the doctor's office. Many business gurus now admit that the best practice is to work out 45 minutes a day, because of the healthy increase in brain power. Lose an hour to working out, gain two hours of productivity. Eating fast food 20 times a month is as much as a gym membership, and the time you save eating out is lost to that Grimace that jumps around in your digestive system after the fact.
Same goes for a cup of coffee. CNN loves to point out how if one refrained from mochas they could afford a vacation to Europe. Actually, no... not with our dollar value. Think more along the lines of Austin, Texas. Of course, this is taking into consideration that coffee is in essence a caffeine supplier, and can any of us work without that daily jolt of energy? Some can, but most of us can use the mid-afternoon boost in energy and emotion. If you're really tight on cash, my suggestion is to by that great bag of Cafe Ladro Fremont Blend at PCC, and make your own. You're still supporting the local guys but getting more for your dollar.
That's what I mean about a money head. It's time to start thinking about every purchase. When it comes to big ticket items, the wise spender sifts through hours of online consumer reviews. Granted, does a night out warrant the same amount of intense investigation? No. But imagine if we viewed every one of our purchases from a business perspective. I'm sure we can easily begin to "trim the fat" and remove excess waste in expenses and time.
A quick counterpoint detour! I am not at all suggesting that the best way to survive tight economic times is to reduce spending. All to often companies wind up slashing critical life support systems because they are not directly related to the manufacturing or production of their business. No, this blog is a reminder to spend WISELY, not tighten your belt. I knew a lot of companies that put the final lid on their coffin by cutting their advertising budgets. In a down economy, your advertising budgets need to increase. But you need to know exactly where to spend your hard earned dollars. Many ad firms like to thrown around cash and see what sticks. We may not have that option, especially with less money to spend. So, a well-educated ad person that knows the industry can get the right message in the right direction.
Speaking of which, do you have a blog? Every business needs one now. If you don't have time to maintain one, then the graphics guy with a knack for copy-writing can do one for you. Of course, there are writers in the industry that can maintain one for you as well. Regardless, blogs are usually free, and anything on the web brings you the most bang for your buck. To hire a blogger for a year might cost you just as much as a one-time full page ad in a newspaper. That's what we mean by spending smart.
