Wednesday, July 13, 2011

A Time to Not Save Money

Companies are still struggling as the economy either goes down again, stabilizes or moves upward--
who knows what will happen? The tendency is to avoid hiring suppliers and just cut costs and do-it-yourself as much as possible.

But now is the time to invest in the right things. A dealership I know has avoided hiring an additional admin they need desperately--a person who would clean up their sloppy operation and force their team to follow the rules. Up until now, the dealer has not pulled the trigger and just expected his general manager (who has no clue as to what to do) to take care of this.

Hiring that person will cost more money, true. But it will also clean up the mess and expose the weaknesses at the dealership. If they hire her, the general manager may not survive it. The longer they wait, the worse it will get.

Many companies have gone through a lot during the downturn, they've sucked it up and kept pushing and grinding away. It's time to call in the reinforcements.

Barry LaBov
LaBov & Beyond


  1. Well said as always, Barry Labov! I really thought that your take on spending more to bring in extra help will make things better in the long run was a really great point. Even during these tough times, I agree that sometimes we need to bring in the people that will prevent our businesses from failing, even if we’re reluctant to spend. I know a great number of businesses that could benefit from the advice you presented in this post.

  2. Thanks, there is a right time to save money, no doubt. I think there is a time when you can't afford to save, you need to invest.