By Moe Lastfogel
Director of Sales and Marketing for The Retail Observer
August is one of my favorite months. Why? Car shows. For years, I went to Reno, NV to Hot August Nights and was awed by all the hotrods, classics and antiques that were on display. What I wouldn’t give for some of that chrome and horsepower.
Why do I bring this up you may ask? I like cars. The point is, as I work on my own car, a 1999 Chevy Suburban, I think about ways to make it run for another 15 years (238k miles so far). As I replace parts, many choices are usually given to me; I can get upgraded brakes, longer mileage tires or replace other parts with higher performance equipment. The logic is they will last longer and help my vehicle last longer too. Upgraded maintenance is my goal.
Your company is just like my truck. I have to make sure that the products I buy and use are of quality, serving me for many more years to come. In retail, it’s kind of the same thing, the upgrade equals profitability.
For example, I’m putting a Magna Flow Exhaust system on my truck, increasing my gas mileage, the stainless steel lasts longer, plus I’ll get a little kick of horsepower. In your business, the items you purchase to make your business run need to be of a higher quality, because purchasing substandard equipment or products will most likely hurt you in the long run. This is anything from delivery dollies to the tape you use to ship boxes with as well as the boxes. Bad tape needs more tape to hold it together and bad boxes need more tape. Going cheap gets expensive quick! Sometimes spending a little more goes a long way towards your bottom line and in my case, my mileage gauge.