Written by: Ollie Style-
Most of the time you purchase something out of sheer impulse, and when you do that you are actually wasting the money on something that will you will never use or something you already have. If you are the type who buys things out of impulse you need to ask your self these questions first before parting with your hard earned cash.
Do I really need to buy this product / item?
Most of the time you already own a similar product or item at home or in the office and you are just buying it becuase you like the color or there is an upgrade that is previously not available in the product that you already have.
Will I get a discount?
Ask if you can get an item for a discount, sometimes we fail to ask or we are too shy to ask for a discount. Always ask for a discount, sales people or sales agents are there for that reason, always ask them they could give you a lot of discount, and even if it's just for a single product always ask.
How much will I save if I purchase wholesale?
It's wiser to buy it wholesale than per piece, remember the old saying cheaper by the dozen if you buy in bulk you will always get your money's worth.
Have you exhausted all the options in the market?
Always shop around for other deals, you will find something cheaper if you just look around. Yes it takes time but you will get the product or item a lot more cheaper, and you might just get a better option when you survey the market.
Will this purchase enhance my business?
Always ask this question, if your answer is yes, go ahead make the purchase specially if it will boost your current business.
Can I resell the item later?
This is also a good question to ask your self if you are buying something. It's good if you could resell an item after you've used it and served its purpose. By reselling an item you could get your money back if not in full atleast part of it. A good example is a photocopying or printing machine, you could use a printing machine for several years and make a profit out of it and if you are ready to upgrade or if you no longer need a printing machine you could resell it and at least get a partial return of investment.
Will this purchase earn money for me?
If you are going to make a major purchase always ask yourself if the product will make you money. If not you better rethink and analyze if you really need the product. A good purchase is one that will earn you a lot of money just like our example above, a brand new printing machine will definitely make you money if you subcontract some printing jobs with other businesses.
How soon will you make money out of the purchase?
If you will profit from the purchase immediately without an extra cost or additional manpower that's a good buy, but if you have to hire someone just to operate a machine you might want to think twice about the purchase.
Always ask yourself if you are going to make money out of the purchase, if not, you should not buy it. Make a cost analysis of a product, how much income will it generate, it's depreciation, and it's resell value in the future.
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