Luxuries vs Necessities – How to Tell the Difference for your Business

business-luxury-vs-necessityWhen we bought our house, it came with a large jacuzzi tub. This wasn’t an item on our “must have” list, it was simply a feature the twenty year old house in our price range we liked came with.

I’ll be honest: we were excited about this new luxury. But I can’t look at it anymore without recalling what one of our first visitors said when they saw it: “Almost no one actually uses those.

This is important when evaluating the goods and services your business “needs”. Some luxuries help you to manage your business more efficiently and increase sales. Others are merely indulgences that will weigh your business down. It’s crucial you know the difference.

1. Does It Fit Your Business?
My husband is tall. But at 6’1″ he’s not winning any world records for height. Still, he has trouble fitting into this tub. So even when he wants to try to soak his aching muscles, this tub often doesn’t fit his needs. Any product that doesn’t truly fit your needs in the way you need, isn’t a business necessity. Don’t fool yourself into thinking something fits if it doesn’t.

2. Can You Maintain It?
While I love many things about this tub, it’s a real pain to clean. There’s no easy way to reach everything from the outside. This means you have to climb inside to clean it, which is slippery, and honestly, it’s hard to clean the floor of the tub around myself. I know, I know, these are first world problems. Nonetheless, maintaining this feature is a time suck at best. If a good or service you’re looking at is too costly or cumbersome to maintain, your money is best spent elsewhere.

3. Does It Really Help You?
Up until a few months ago, I’d have said this tub was merely for vanity purposes. However, since I’ve hurt my back it has been invaluable in keeping my body relaxed when muscles are seizing. While this is fantastic since it came with my house, you can’t buy something for your business that does not help immediately. Be sure whatever you’re investing in immediately helps you or your customers. Otherwise, it’s just a nice trinket to make you feel good. That feeling doesn’t last as long as you think it will.

When investing in your business, be sure you pick things that are necessities. Otherwise, you strain your business for no reason other than your own desire to get something “pretty”.

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