Bought Right is Half Sold … another cultural cornerstone

Spread the love

Back in 2001, in a pending acquisition, a smooth talking investment banker snidely looked at me and introduced me to, “bought right is half sold.” I never liked him very much. Somebody told him that. He was a parrot. He knew a guy who told him a smart thing. It was a very wise best practice, though. So I took the wisdom and shed the fool.

The acquisition fizzled. I never saw this cat again. But, I made this wise best practice a staple in my culture.

It was a very wise best practice, though. So I took the wisdom and shed the fool.

Bought right truly is 1/2 sold. Drive every cost down in your enterprise to where it is as low as it can be and still deliver your quality standards. If you deliver the low cost quality and efficiency, then the sale will happen and profits will abound.

In 1995, I worked for some brilliant guys who created a value proposition of being the high-quality, low-cost provider. I have always found that my favorite model to implement.

Benchmark your quality standards as high as they can go within your low cost model. Buy smart.

Culture Focus and Accountability: Buy right, at the highest quality possible. Sell your high quality as the top focus. Basically, your honest pitch to the market reflects your culture: You will not find a higher quality product at my price anywhere else, because nobody else can deliver our quality at the cost we manage to pay. We buy right.

Do not confuse “cost” with “price.” We are seeking to drive down our costs. Our prices can be as high as the market allows.

In closing, bought right is half sold. Combine that with being the low cost, high quality provider, and you will stake a mighty market position. Get a team behind you in this culture, and you will be a force to be reckoned with, for sure! Cheers!

Leave a Reply