As small business owners, we all look for cost saving ideas and creative resources to stretch our finances. One area of cost savings we often turn to is the do it yourself approach. As first glance this seems to be a great cost cutting effort. But before plunging into the unknown maybe ask yourself, ‘Do I really know what I am doing?’ Have you ever wondered how much you are saving when taking on a task to do it yourself?Ask yourself, Is it worth my time to do it myself? Click To Tweet
DIY Cost in time and money
With the best of intentions what looks easy may turn into a disaster. Or the amount of time you are spending to complete the task is taking much longer than expected. DIY also pulls you from your other responsibilities that are probably piling up. The thought of it being faster and more convenient to just take care of the task yourself. Well is it really? Think again the amount invested in time and money being robbed in your day. Is it becoming more of a juggling act trying to prioritize your task to get anything accomplished?
The best indicator to hire an expert is when you recognize it is an investment in your time management rather than an expense. As a Small business owners, you already recognize the value you bring in your own area of expertise and the amount you charge your clients. Now consider the amount it cost to tackle task you are not overly familiar with in lost time and income. Instead of building your business, you are stuck in the details someone else with that particular expertise can complete in a fraction of the time. It may feel as though paying the invoice is painful; what is costly is robbing yourself of the time to take care of your clientele and build your business.
If you don’t invest the time to do it correctly today, you will spend more time and money in repairing mistakes tomorrow
Do what you do best and hire the expertise
There are task I am always eager and thrilled to hire the expertise. One task in particular is handing over my annual taxes. I do take care of my own accounts during the year; but when it comes to tax season, I hire a tax expert. They have the knowledgeable and efficient at filing taxes. It is what tax experts do! I took a tax course in college and recognized how incredibly complicated the process is with oodles of variables. So each year I am thrilled and a great sight of relief handing over the task to my Tax Expert.
Ask yourself, is it worth doing the task myself?
We are always looking for cost-saving measures but at the same time tasks need to be done correctly. So the next time you are thinking of doing it yourself, first ask;
- How valuable is my time?
- Do I enjoy doing the task?
- Is it more economical to delegate it out to an expert?
- Am I creating more errors and taking too long to complete?
Entrepreneurs and small business owners wear many hats and we are used to rolling up our sleeves to just get it done. Take a step back and evaluate the cost to do it yourself versus hiring the experts. If it interferes with progress in your day, maybe the best choice is to call in the experts. Your small business community is there to support you.
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