Don’t Skimp on Tools

While working with her client the other day, my wife suggested she purchase a software tool but wasn’t sure if the client would want it. The client responded with something like, “Buy it — I don’t skimp on tools.”

This woman is quite successful and has spent significant money on training and resources, and it shows. She is getting things done and her skills are sharp.

But it made me wonder how often we skimp on the tools and resources that help us achieve our goals. We handicap ourselves by not using tools wisely — because they cost too much — and thus we spend our time and effort instead.

It makes me think of how much Robin Robins has spent on her tools over the years. She had a tough time growing up, but has become a hugely successful marketing consultant. She admits to spending roughly a million on training materials such as books, DVDs, classes, and conventions. Can you imagine the tools she has available in her toolbox?!

How we spend our money speaks volumes about our priorities and values, doesn’t it?

I need to get better at prioritizing tools. My experience is to use whatever is available, even if it requires significant hassle. Yet I am starting to realize how important it is to sharpen the saw by obtaining training, developing my skills, and purchasing better tools.

And besides all that, a somewhat obvious revelation hit me today.

The cheapest tool is hardly ever the best tool for the job.

When we prioritize money, we compromise our time and energy — resources we can never get back.

You can always make more money.

What is your gut reaction to spending good money on the right tools to minimize hassle? Is this a good trade?