3 ms·
> A policy the author likes: > > 1. Spend company money like it is your own money. No, really. I normally maintain a ratio. When I was a junior, the rule I a
by bsder 4y ago
> A policy the author likes:
> > 1. Spend company money like it is your own money. No, really.
I normally maintain a ratio. When I was a junior, the rule I adhered to is spend $10 of company money like your would spend $1 of your own money. As I became more senior, I adjusted that ratio to $100:$1.
This keeps things in perspective but acknowledges that spending money generally makes money for a business.
- perryizgr8 4y ago> I adjusted that ratio to $100:$1. So if I would pay $100 a night in a personal trip, I should be fine spending up to $10000/night of company money? I don't think that would fly at most companies. Edit: Unless you're a C-level executive, I guess. But then you'd probably be fine spending 10k for a personal trip, too.
- bsder 4y agoOverall? Maybe? Will I book that executive class hotel within walking distance of my venues instead of La Quinta? Yes. Will I book that better plane ticket instead of cattle class? Yup. etc. Those are probably in the range of about a factor fo 4x-5x. This also holds a little better if I talk about lab equipment. I have wasted a lot of time trying to do measurements with $100-ish pieces of equipment when I should have bought the $10K piece of lab-grade equipment that I then use for other projects as well. Now I try to optimize that better.