The Rupee Mentality

Do you have the rupee mentality?

Some people start thinking about all the small details. They calculate exactly to the penny or the rupee what someone is charging them. It is really annoying when people count every rupee. They end up annoying you so much that you don’t want to do business with them in the long run. Penny-wise and pound-foolish is an English proverb that applies to those who lose important business deals because they were stuck thinking about pennies.

Some companies save money by hiring the cheapest employees who can’t even function. Others save money by not training their employees. They don’t even realize they are saving money because they never even considered investing in training. Others count the exact price of something without taking a deeper look at the value of the offering. Sometimes the value is not easily discernable which makes it hard. But, the exact price means little if you don’t know the worth.

I notice that when I am in India I start thinking small just like Indians. I argue over ever last rupee with the cab drivers. I count every penny I spend on tip. And I am paying extra attention to anyone who is gauging me and generally fire them immediately if at all possible. Even if you don’t talk to any misers, just being around them is enough to get you thinking like one.

As a general rule, at this stage in my life, it is more about the long term of a business relationship. I don’t care exactly what I am paying someone as that has no reflection on anything. I care more about whether or not this person will be true to me and helpful in the long run. If I have to hire and fire and hire and fire, I am losing a lot of my own time. My personal time is worth about triple or quadruple what I pay an experienced beginner to work for me, so the main thing is to conserve my own time while getting the job done right. Unfortunately, most service providers are not appropriate, and I end up doing too much myself. But, on a brighter note, I no longer have the rupee mentality. Now , I am counting the minutes I waste rather than the pennies I lose!

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