The Common Law of Business
“There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper. People who consider price only are this man’s lawful prey.
It is unwise to pay too much, but it is also unwise 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 you bought it to do.
The common law of business balance prohibits paying a little and getting a lot. It cannot be done.
If you deal with the lowest bidder, it is well to add something to the risk you run.
And if you do that, you will have enough to pay for something a little better.”