Your decisions with capital will bleed into every part of your organization, so it’s crucial that you are able to determine the difference between capital expenses and operational expenses. When you know what each of these accomplish, you can do more with the same amount of capital.
I was meeting with an old colleague the other day. We met over Microsoft Teams to just check in and see how they were doing—no real itinerary, just to check in with a familiar face that I haven’t personally talked to in a few years. They had a little trouble getting into Microsoft Teams, since they were used to Zoom. I patiently smiled and helped them through it, and told them “No worries, it’s always the little differences that complicate things!”
At the time, I said this just to be empathetic. At first, the nerdy computer-geek part of my brain told me that the process to get into a Zoom meeting vs a Teams meeting, from their perspective, is exactly the same. But after the call, I really thought about this small interaction, and you know what? Things have gotten complicated.