Thursday, September 20, 2018

How to Avoid Expensive Mistakes

This is a 1978 Chevy Camaro.

Chevy produced the second generation from 1970 – 1981, with minor body modifications in response to new safety standards and changes to the motors in reaction to the early 70s gas crisis.

If I were to purchase a classic car, I have the following requirements.

– A 6’5” man (my partner) needs to be able to drive it.

– There needs to be enough trunk space for it to fit 2 sets of golf clubs

– And it needs to work well enough to be a daily driver. That means

+ AC

+ Unleaded gasoline

+ The car runs

+ The transmission shifts

+ and the brakes work

This is my type of classic car – a 1971 Camaro that has been restored within an inch of its life, with a modern engine, modern features, a fancy interior and a brand new paint job.  I thought this one was gorgeous. Understated. Looks fast. Is fast.

I knew it would meet all the requirements. Except one.

Would my 6’5” partner fit in it?

I was by myself. I’m 5’6”. I am not a very good gauge for whether he would fit in the car.

A little later, I ventured back to this car and found 2 men taking a closer look.

One was 5’11”, the other 6 feet.  I asked how comfortable they found it.

Not very was their answer. There was no way my 6’5” partner would fit in the passenger seat, nevermind the driver seat.

If I had the money and went into this without a set of requirements, I likely would have purchased this car, brought it home, and encountered one very disappointed partner.

How many large enterprise purchases has your company made because someone with money saw something shiny and didn’t go into the purchase with any requirements?

What did that ultimately cost you?

In this case – if I purchased this Camero – it would have been a 90,000 mistake.

Ouch.

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