I recently visited with a family member who mentioned in passing that her husband continues to work long hours and takes pride in his ability to do top quality woodwork. When it comes to working with wood, his skillset puts him in an artisan category. He can either start from scratch or his restoration skillset is such that he make antiques better than new.
I couldn't believe the words that come out of her mouth. She said: "He works too much for a man his age. He is exhausted by the end of the day." Since her husband and I share the same birthdate, I was shocked! Of course, I haven't quite yet discovered my skill set, but this guy can do almost anything related to home repair and get accolades for his abilities.
The only downside from her perspective is that her husband shies away from most of the home remodeling projects that she has on her list of things that need to be done. She also thinks that he doesn't charge enough for his work.
That led me to say that the profit margin is important. That is really knee-slapping funny coming from me! What do I know about profit margins? I've spent most of my years working for non-profit corporations.
If the lady's husband charged what he was really worth, his price would be out of reach for many. I've heard it said that, "You get what you pay for?" That isn't always true. Normally, you don't get it if you don't pay for it, but paying for it is not guarantee related to quality.
I have a friend who contracted with a builder to enlarge the blueprint of his property. The guys lack of skill and the corners he turned proved to be a nightmare for my friend and his wife.
In the final analysis, the profit index isn't always most important. The lady shared with me that she has a dear friend that has rental property. I had the thought: "What a remarkable situation in which to find oneself in today's market." She said of her friend something closely akin to: "Her business acumen isn't always focused on the bottom line. More often than not, she makes rental decisions based on her heart rather than actual market value."
In other words, her friend makes decisions in the best interests of folks needing a home. It is refreshing to know there are mission-minded folks who balance compassion with the bottom line and are willing to cut folks a break and help when she can.
All My BEST!
Don
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