Here's a thought. Outline your life in pencil and not pen. 17 years ago I told myself I would never own a minivan, my kids would never wear crocs and that I would never be the dad with knee high socks and white new balances. Today, I can only say I have kept my promise to only 1. My kids wear crocs (they are insanely easy to get on and off) and 2 1/2 years ago my wife and I bought a minivan.
The biggest regret I have about the minivan isn't actually the minivan but it is not paying the extra 2k to get the DVD player preinstalled. It has a lot to do with value. At the time of purchase, I was trying to penny pinch every dime. I thought there was no way we would use a DVD player. I also thought we would never go on long road trips and for the short ones the kids had each other to entertain themselves.
This is the biggest problem with value. Today, the extra 3 dollars a month I would have spent would have been worth every penny. In the moment of purchase, I could not see the value.
Could we continue to get by with the vehicle we purchased? Of course and we will. How does this relate to business? Just about everything. Is spending the extra money for something with long term value better than just good enough? It is and isn't but it really depends on what you find valuable. It is the reason as entrepreneurs that we should not rush into a situation and we should sit back and think of the both short term and the long term.
*Not actually my mini van