Financial Services Industry Preparation Trust

AA000742The word “balance” is a mainstay in the language of finance. There are balances of trade, balance sheets, bank balances and the Common Law of Business Balance, attributed to John Ruskin in the 19th century, which “prohibits paying a little and getting a lot.” (Or, in other words, you get what you pay for.)

There is something to be said for that. I’m not talking about comparison shopping like looking for the best price for a particular TV or microwave. What I mean is that not all goods and services are created equal and their values (and costs) vary accordingly.

You need to find the right “fit” or the right balance of expertise, for you; you need to find the best value for your needs. For example, an inexperienced and unlicensed contractor is probably going to charge less for his or her work, but you run the risk of not getting the result you desire, although you will probably – at least initially – spend less.

Engaging an individual or company with a proven track record in providing what you need can be worth the extra cost if it reduces the risk of a bad result and gives you confidence in your choice. That peace of mind you get choosing the best person or company for the task may not be a tangible thing – something you can hold in your hand – but it can certainly be worth paying a bit more.

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