Pay Me Now or Pay Me Later

In the mid-seventies, Fram oil filters became well-known due an intelligent ad campaign that featured the slogan, “You can pay me now, or pay me later.” In the witty and memorable commercials, the mechanic would warn automobile owners to consider investing a small amount of money into a new oil filter now, as opposed to replacing an entire engine later. Many times in business, we encounter similar situations that require an immediate investment, or an impending one that will often be much larger than anticipated.

Our law firm occasionally works with a mid-sized IT company that caters to small business owners. This company remains busy year-round, even in Naples where business tends to fluctuate with the winter snowbird season. Many of the customers of this IT company enjoy a small reprieve from the intensity of the busiest season during the slower hot summer months. One year, the head of the company advised several customers to use their down time to purchase and install new, upgraded servers for their computer systems. The clients, realizing that the slow season means lower revenues, declined to pay for the costly upgrade against the IT professional’s wise advice.

Several months later, in the height of an extremely busy season, several of these business owners placed frantic calls to the same IT professional, requesting assistance when their computer systems became overloaded. Already booked with regular business, the IT firm had to complete the needed repairs for these businesses after hours, which was quite costly. In addition, the stressed business owners had to purchase, pay for, and endure costly repairs that could have been done in their down time if they had only listened to the professional that they trusted.
We have heard many times that, “an ounce of prevention is worth a pound of cure.” This adage has never been truer to these business owners who, with the benefit of hindsight, realize that repairs during the height of the busy season not only cost them real dollars in revenue, but also time and considerable consumer confidence as they had to shut down during the lengthy repairs. As business owners, your customers pay you to do what you do best. You know your specialty better than anyone else, and, when you give your opinion, it is given with years of training and experience behind it. It is the same when YOUR professionals give you advice. They know what they are doing.

Failing to apply the advice of a skilled professional can cost you dearly in the long run. As attorneys for business owners, we provide prudent and educated advice to our clients based on extensive experience. We hope that they heed it because when our clients succeed at their business, we succeed at ours. If you are looking for professional guidance for your business, please call us at Blount Law today.

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Written by blountlaw