I admit it, I love shopping. Clothes, shoes, cars, Apple products, the list goes one.  And oh yeah, I love memorable experiences, too.  You know, visiting family, trying out that new restaurant, watching a movie, hitting up Vegas, hell, take me to Europe if possible.  And of course VIP service.  After all, who wouldn’t?  And just who’s to blame for liking fun products, hip dining, and stellar service?  Not me, I say, not me.  Not that I always get what I want (if only).

But we all know we’re living in a new age of frugality.  We even have a positive savings rate (5% in January, believe you me).  It’s Prius over Beamer, H&M over Gucci, Walmart and Micky D’s over Bloomies and Mr. Chow’s.  Always laying out the cash (or plastic) in this newfound age of financial reason may not be the most “in” thing to do.  It may even cause more anxiety and guilt than pleasure and relief.  What a let down, who’da thought this would happen to us, this prosperous plastic economy of our’s we thought invincible.  The bird’s out of the cage — our individual and collective financial foundation has proven to be weaker than once thought.

So when is spending the money really worth it?  And not just spending money on yourself, but on others and on your business?  Well, business owners (good ones) know that money is a tool (leverage) and that leverage can provide power.  When appropriate capital and sound strategy combine, money can be multiplied.  Entrepreneurs also know that sometimes you have to spend money to make money.  Quality, in-demand people come at a premium.  After all, nothing attracts success like success.  And even when it comes to your personal wardrobe or garage, sometimes labels and brands represent simple mark-up branding strategy and sometimes they represent so much more.  When, then, does it pay to spend?

Is spending the extra $20 on that bottle of wine really worth it?  Is your Lexus LS really a far superior choice than the Hyundai Genesis?  Should you use the big name CPA or the little guy?   The big-boy lawyer or the recently minted one down the street? Will paying $250 an hour for consulting that will save or make you thousands better than paying $100 an hour for average results?  Valid questions, varied and individual answers.

I’ll be answering this question (when it pays to spend) over the next several blog posts:

1. When it Pays to Spend (on Yourself)
2. When it Pays to Spend (on Others)
3. When it Pays to Spend (on Your Business)

So stay tuned and prepare to be enlighted.  Your feedback (comments, complaints, compliments) is always welcome – the more voices, the more fruitful this discussion will be.

- @epsilonc

“You can always find a capable helping hand at the end of your own sleeve.” – Zig Ziglar

Being resourceful is tantamount to being useful.  If you’re resourceful, you have the ability to, here’s the key concept, work with what you have to find quick and clever ways to overcome obstacles.  Are you being resourceful in your personal and professional life?  In today’s free-wheeling, credit-wielding economy (circa pre-2008 of course) many individuals and organizations have lost the art of resourcefulness and frugality in their problem solving and decision-making.  Thanks to the worldwide recession, wallets are being cinched, VCs are pulling back, and businesses are running lean.  Resourcefulness is in again, it seems.

Can you imagine if you won the lottery?  And not just any lottery, but a jackpot of tens of millions of dollars?   You’re probably already fantasizing about how you would spend that kind of money.  I wouldn’t mind a Lambo or additional capital myself! It’s easy to fantasize about a life made easier with vast or unlimited resources.  The human mind certainly likes to paint a rosier picture on the other side of the fence.   Problem is, if you wait until the stars are perfectly aligned (like winning the lottery) to do something, you’ll mostly likely never end up doing it.  Ideas abound, execution is another story.  I’ve seen countless people dream a big dream, but never start, poorly execute, or quit early because of a lack of resources.  In my mind, it’s often not as much a matter of resources, but a matter of how resourceful you are.

Starting a business on a shoestring, landing a date with a supermodel, or providing value to your client base can be accomplished with a vision and diligence.  You can’t snap your fingers and make these goals realities, but you can take a hard look at what you have in your toolbox, where you want to go, and how you can take baby steps to get there.  If you’re starting a business, but think you need a million to make something happen, don’t sit idle while waiting for the cash monsoon.  Start a business plan, get your branding started, research your competition, network with investors, and start a blog to begin building your marketing channel.  A lot of success isn’t a result of luck, it’s a result of setting yourself up for luck.  After all, you’ll never win the hand if you’re not at the table to begin with.

Don’t end up on the treadmill of life, static in a moving environment or moving in a static environment, with inertia driving your path.  Sometimes, you need to pull up your sleeves and make do with what you have.  If you’re striving for usefulness, for yourself and others, then form a habit of using your existing assets wisely.  If you want to be a writer, but don’t have a publisher on board, maybe you should self-publish, blog, or build up a Twitter following to get your name out there.  If you want to meet people, but feel socially awkward, take a public speaking class coupled with a geography class and watch your fear and lack of conversation material will wane.   My point is this: Rome wasn’t built in a night, legacies weren’t built in a month, and lasting businesses (useful ones) take time to build. Riding the ebbs and flow of life will present hurdles and opportunities, but with resourcefulness you can make the best of both worlds.  -Written By @epsilonc

“Remember you will not always win. Some days, the most resourceful individual will taste defeat. But there is, in this case, always tomorrow – after you have done your best to achieve success today.” -Maxwell Maltz