Business owners tend to do everything when they are first starting out. Many times, they don’t have a choice because money is tight. And while business owners should watch their pennies, sometimes they can be penny wise and pound foolish. They waste valuable time doing things they aren’t good at it (so it takes them longer) instead of focusing on what they are good at, which is what makes them money. For example:
- They do their own marketing because they don’t want to pay professionals — because creating a flyer is easy, right? Just use Microsoft Word! And free clipart works just fine for a logo.
- They do their own hiring — and then wonder why no one works out.
- They do their own bookkeeping and accounting, spending hours upon hours trying to figure out new software and laws.
- They do their own sales because who could be better at sales than the owner? That’s true on one hand, but not when the owner has no time to go out and sell.
- They read book after book about leadership but are too tired and undisciplined to put any of the principles into action.
But if they would shift their focus from saving every dime to making some dollars, they will soon see a shift in their revenue — and their sanity. After all, when business owners don’t have a secretary, they have to do secretarial work. When there’s no bookkeeper, the business owner has to send out invoices. When there is no marketing help, the business owner spends hours upon hours trying to write something that doesn’t even turn out well and is ineffective.
Yet they see no way out. There’s no money — at least, not for the ridiculous professional fees that service firms charge or for a new employee. No siree bob!
Unfortunately, business owners don’t often see is the value of time — their time. If their time could be freed up to spend more time leading their businesses or on their core business, things would really start moving for them. This is where the word “investment” comes in. They enlist the help of professionals — and their business gains as a result. Once business owners see the full picture and how all of this really works, they start to outsource more and more — all while maintaining complete control of their own business (because now they have the time to!).
Last week, Brad Farris wrote about how he uses a writer (me) to help him with his content marketing. Here is a man who is educated and smart, but he needs to spend his time on things other than spelling and punctuation. So he gets his thoughts out in some sort of written form and then I polish it up for him. And while he pays me for that service, he SAVES his own time, which has a value too.
Are there any things you do that a professional or new employee is better equipped to handle? What’s holding you back from seeking their advice?