A Worksheet for Your Next Purchase
Module: Buying for the Business You Have
We've talked about starting smaller than you want to. We've talked about what to buy now versus what to wait on. We've talked about borrowing and renting and making do. This lesson is the last stop on all that: an actual worksheet, something you fill out before you buy the next thing.
Because here's what happens without one. You're standing in an aisle at Costco, or scrolling somebody's clearance listing at 10pm, and the thing looks like a steal, and steal-feeling is a dangerous feeling to shop on.
I bought a commercial food scale off a clearance rack years ago for twelve bucks. Digital, accurate, the kind you see in real kitchens. It felt like I was getting away with something. I used it maybe twice. It sat in my garage for probably three years until I reorganized around it, which, if you know me, is a whole separate problem I have. Twelve dollars isn't real money. But it wasn't the money. It was that I bought for a business I didn't have yet — the version of me doing enough volume that a fast, precise scale mattered. That guy didn't exist. The guy who existed was doing two events a month and eyeballing portions fine with a regular kitchen scale he already owned.
So. The worksheet. Four questions. Answer them on paper, actually write it down, before you buy anything over about twenty bucks for the business.
Question one: What job is this doing, specifically?
Not "it'll help." What job. If you can't name the job in one sentence, you're not ready to buy it. "This chafing dish keeps food at temperature for the two hours of a luncheon so I don't get someone sick" is a job. "This would be nice to have" is not a job, it's a wish.
Question two: How many times will I use it in the next two months?
Be honest, and be specific to the work you actually have booked or are actually pursuing, not the work you're hoping for. If the honest answer is "once, maybe," that's a strong signal you should be renting or borrowing it, which we covered last time.
Question three: What does the cheapest version that does the job cost?
Not the nicest version. The cheapest one that gets the job done. You can upgrade later once the business is paying for the upgrade. Early on, the fancy tool and the basic tool produce the same result for your customer. They don't know the difference. You will, eventually, when volume makes the fancy tool actually save you time. That's a future problem, and future you will have more information than you do right now.
Question four: Would I still buy this if it were full price, not on sale?
This is the one that catches people. A discount changes how good something feels to buy. It does not change whether you need it. If the only reason it's appealing is the price tag, that's the same trap I fell into with the scale. A steal you don't use isn't a steal. It's just stuff you own.
If you get through all four questions and you're still saying yes, buy it. That's a good sign. That's the difference between an impulse and a decision.
A word about the account this comes out of
I've said this before and I'll keep saying it because it's saved me more headaches than almost anything else: get a separate checking account for the business money, even a small side thing, even before you've decided if it's a real business or a hobby. When I finally set one up on the advice of a guy at church, the very first month it made a difference. I could look at one statement and know what I'd spent on the business, full stop, no digging through personal purchases to figure out which grocery run was for a catering job and which was for Sunday dinner. Buy off that account. Every time. It turns this worksheet from a nice idea into something you can actually track later when you're doing your numbers.
A caution, plainly
If what you're buying involves anything with a flame, a blade, or something that gets hot enough to burn you, don't let the worksheet talk you into a bargain that skips a safety feature. Auto shutoff on a warmer, a blade guard, a cord that isn't fraying because it was the display model. Those aren't the corners to cut to save fifteen dollars. Everything else on this worksheet is about not overbuying. This part is about not underbuying on the wrong thing.
Before next time
Before we meet again, run the worksheet on the next purchase you're actually considering, even if it's small. Write down your four answers. Bring them if you want a second opinion, I'm always happy to look.