“There is hardly anything in the world that someone cannot make a little worse and sell a little cheaper, and the people who consider price alone are that person’s lawful prey. It’s unwise to pay too much, but it’s worse to pay too little. When you pay too much, you lose a little money — that is all. When you pay too little, you sometimes lose everything, because the thing you bought was incapable of doing the thing it was bought to do. The common law of business balance prohibits paying a little and getting a lot — it can’t be done. If you deal with the lowest bidder, it is well to add something for the risk you run, and if you do that you will have enough to pay for something better.”
John Ruskin (1819-1900)
For the most part the really good contractors tend to work with really good sub-contractors and the combination of these two things generally translates into a superior product – which typically translates into a more expensive product.
What we try to talk about with ours friends and clients is about finding the appropriate balance between product and cost – which would be value. If you don’t appreciate the more expensive item, or can’t tell the difference between something and its less expensive alternative, how can there be value in paying for it? The only time this really becomes an issue is when someone wants to pay for the cheaper alternative but expects the quality level to remain unchanged. It simply doesn’t work out when the expectations don’t align with the associative cost.
Just something to think about.