The Trap of Small

Don’t cut pennies. Grow dollars.  –LYnn Selwa

It’s important to know what the income and expenses are in a business. As Teresa Romain of Access Abundance describes, clarity may not feel good but ultimately it is empowering.

When the expenses are larger than the revenues, don’t spend hours trying to shave pennies off the price of one-time or rare purchases.

Saving that type of money is costly in time to research or comparison-shop the alternative choices.

It reminds me of watching my next door neighbor drive across town (about an hour round trip) to save 10 cents on $2 worth of sliced ham. Percentage wise, that’s a savings of 5%, but a time drain, not to mention the gasoline involved in driving the car. I figured it was a net loss, financially… she surely burned up more than 10 cents of gas doing it.

Respect your budget, and take the time you would have spent on researching (or driving) to send a few more prospecting texts or make a few more calls.

One extra sale can pay you a lot more than 10 cents. If you develop that relationship with your client or team member, it can lead to repeat sales worth hundreds of dollars.

I’ve noticed women seem to brag about how little they paid for something, while men seem to brag about how much they paid— the bigger, the better. Of course that’s based on the people I have observed and might depend on culture, and is not meant to pigeonhole people. In any case, it generates a question to consider… how do you and your friends compete (in a friendly way) about money?

Don’t feel obligated to participate in a contest proving how little you can be.

–LYnn Selwa, “The Rocket Science Coach” ™

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