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I find that money thing hard, people do spend their own money differently. If I would spend company money like I spend mine there would not be growth at all, j
by metalrain 4y ago
I find that money thing hard, people do spend their own money differently.
If I would spend company money like I spend mine there would not be growth at all, just cost cutting and terrible amounts of not invented here syndrome.
- sethammons 4y agoBefore given guidance on expensing when I was a younger and newly hired, they said spend like it is your money, be reasonable. I was a poor kid. I expensed one subway sandwich and stretched it three meals and felt guilty expensing a snack later in the evening. When they later clarified and said I had $70/day, I realized they have different life experiences for what a person spends. I also ate better than I ever had in my life.
- Gibbon1 4y agoMy rule of thumb company money == 10X my money. The reason is things I buy with my money typically don't have the same substitution and multiplier effects as stuff I spend the companies money on. Substitution: Bought something instead of spending time. Multiplier: Spent money to be more effective with my time. Really think like an accountant. Realize your time costs the company $500-600 a DAY. And 1.5X to 2X a year than what they pay you. Save a week of time, $3000 not counting moving your ship date forward an inch. Something that increases your productivity by 5%? That's worth $10k a year.
- nibbleshifter 4y agoThat's an exceptionally good way of putting it. I might apply that maths (and show my workings) next time I get pushback on something.
- dottedmag 4y agoI remember a story of a company that removed this rule from their documents because they had found they had a profligate spender on the team.