Tony’s Golden Rule of Purchasing

Recently, I bought a very slick and innovative watch, the Lexon e8. Here it is:

I’m not gonna lie. It was not cheap. I could almost buy an iPod for the price. But a worthy investment in my opinion. It’s a new way to read time and the equalizer-like style is representative of my interest (music). It is also a story waiting to be told in a conversation with a new person.

I’m a pretty cheap guy in general. I don’t spend big bucks, I’d rather save or invest it in stocks or CDs. But when making this purchase a few days ago, it got me thinking about what’s worth investing in. And here’s what I’ve concluded:

Tony’s Golden Rule of Purchasing

If it is:

1. Special,
2. Within 10% of what you would expect the price to be, and
3. Your gut is telling you “buy it”,

…then it’s probably a good idea to buy it (aka. GET IT ).

I think this is a good way to think about whether or not to invest in something.

Right?

Tony Chung is a 27 year young musician/designer and founder of Geekwhat Design. Tony has a EE degree and left his job at Cisco Systems to release 2 albums in Asia and star in a film. This blog is about entrepreneurship, Apple products, music, and financial investing. Read about how he parallels his band with doing business here. (more...)

Tagged as: buy, e8, lexon, purchase, watch