“It is easier to build two chimneys than to keep one in fuel.”- Benjamin Franklin, The Way to Wealth The cost of keeping things workingToday, I replaced the pump in our washing machine, changed the tyre on Lindsay’s bike and adjusted the brakes. A practical reminder that the cost of owning something continues long after we buy it. When buying a washing machine or a bike, we usually focus on the price tag. We compare models, look for a good deal and decide whether we can afford it. Less visible are the replacement parts, maintenance and hours spent figuring out why something has stopped working. In business, this is called the total cost of ownership. Today, it felt very much like a Sunday spent fixing things. There is satisfaction in getting something working again. Today was also a reminder that, for some things, the price tag is just the beginning. #TotalCostOfOwnership #Maintenance |
Week 41. Beyond the Price Tag
“It is easier to build two chimneys than to keep one in fuel.”- Benjamin Franklin, The Way to Wealth The cost of keeping things workingToday, I replaced the pump in our washing machine, changed the tyre on Lindsay’s bike and adjusted the brakes. A practical reminder that the cost of owning something continues long after we buy it. When buying a washing machine or a bike, we usually focus on the price tag. We compare models, look for a good deal and decide whether we can afford it. Less visible are the replacement parts, maintenance and hours spent figuring out why something has stopped working. In business, this is called the total cost of ownership. Today, it felt very much like a Sunday spent fixing things. There is satisfaction in getting something working again. Today was also a reminder that, for some things, the price tag is just the beginning. #TotalCostOfOwnership #Maintenance |