Expense or Investment? That depends on your perspective!

Expense is a nasty word. Nobody likes "expenses". We all try to reduce or eliminate them. Expenses eat away at the bottom line and rob us of potential resources that can be put to better use.

As a board member for a non profit, I regularly look at Profit and Loss Statements, Balance Sheets, and review "expenses". If we can reduce or eliminate them and get the same level of service/utility, then bonus. It's like a win for the organization. "A penny saved is a penny earned", and off we go. So I do understand our customers who come to BuildIT and are in the tension of wanting a solution to their scheduling problem, but wanting to keep expenses down.

Investment on the other hand makes you feel very different. Smart people invest, with the intent on receiving some form of return. When you invest in something, what is assumed is that you have taken time to consider how this will impact you/your business in a positive way.

When it comes to a subscription for the BuildIT scheduling system, people can view this as either an expense, or an investment. Those that see BuildIT as an investment always subscribe, full stop. Those that subscribe and continue their subscription month after month, year after year, only do so because they realize a return on investment. That return comes in various forms:

  • Increased income
  • Increased production/volume
  • Faster turnaround on projects
  • Happier customer and other stakeholders
  • Fewer communication issues that eat away at profits

So when someone claims that they don't want to move forward with a BuildIT subscription because "they are trying to limit, reduce or eliminate" expenses, they view that subscription as a net loss to them.

Others see BuildIT as an investment. They move forward and often realize a rapid and ongoing positive return on their investment.

The software hasn't changed. It's a constant. The only thing that's different is the customer, and their perspective, which is clearly revealed in the language they use and their ultimate decision to move forward, or take a pass.

(Interesting to note that often the person who passes on BuildIT because they see it as an expense is an employee.... and on the Profit and Loss Statement, that employee shows up as an "expense" themselves ! Their boss is banking on their employment generating a profit at the end of the month/year. Some employees are great producers, and net contributors to the bottom line (some business owners will claim their people are their most valuable asset!). Other employees, well, they don't last. Astute HR managers/owners can see who is an asset/contributor, and who is a liability, or who will be a liability as depicted in this hilarious video!)

So what's your perspective?

Have you honestly done your research? Do you know what it's costing your team NOT to have a scheduling and collaboration tool that keeps everyone on the same page, with scheduling and critical job information at everyone's fingertips? Most businesses don't do that calculation. But a lot can be said of "most businesses". And you don't want to end up where most businesses end up in 2 - 5 years.

Think investment.

Think "return on investment".

Consider the costs of status quo and what brought you to BuildIT in the first place looking for a "solution". Then try it out. Even if you're straddling the expense/investment fence, a short paid trial of 2 to 3 months will at least prove it one way of the other. And when BuildIT proves itself as an investment to your business/team, you win!

Your "investment broker" is standing by :-)

 Scott Hutchinson
 scott@builditsystems.com
 1 866 585 5050 ext 1