Is that a catchy title or what? I think about these titles for weeks prior to actually putting it down on paper. I also think about what I want to say and how I can help business owners. As a small business owner we are bombarded with all kinds of information on a daily basis. Sometimes we are so busy we miss important things.
Advice in so many blogs is for you to do more things. I don’t know about you but I don’t want to do more things. I want to simplify what I have and make it more effective. Time is a precious commodity. You can’t get it back.
So here are 3 things you can do to increase your profits and decrease your stress:
1. Outsource – yes, yes, the American public really have a bad taste in their mouth regarding this term. We are an independent bunch of do it yourselfers and I get it. I am not suggesting shipping jobs to India. No, I suggest moving the tasks that suck up your time to an outside service provider. You contract it out to a specialist in the field.
As a CPA who offers outsourced accounting services, another term for bookkeeping, we often can handle an accounting department at a far less costly full-time employee. We also do it better than an on-site QuickBooks Accountant and there is a difference (but this is for another blog post).
Social media and marketing tasks can be given to a specialist to handle. Writing content, website design, graphic artists can assist with so many tasks and can free you up to do what you do best. These are small investments into your future.
2. NO DIY Projects – Look every time you take on a project and try to learn a new skill (outside of your unique selling proposition) you are taking away from the time you could be investing into new ideas on how to do it better, faster or more effective. A photographer should be using his or her time finding new techniques that will help them be more competitive.
The minute you deflect your energy onto let’s say for example preparing your taxes is the minute you stop being creative. Taxes in general will make most people unless you are wired for it like us go into the fear mode. Creativity and Fear cannot go together.
3. Don’t be cheap – Oh okay! Now this hurts. I don’t think of myself as cheap but I have from time to time shopped to get the best price. I never buy anything for full price and get much self-satisfaction when I do find an exceptional purchase. Who is with me?
So, here is the deal, I like box store prices but the value and the quality are sometimes lacking. When I want a really good purse that’s stylish and fun I spend more. In business, I spend more for professionals. Why? Because I don’t have the time or energy to chase down all the details and make it all happen on a daily basis. The truth is I am good at a lot of things BUT just because I can do it doesn’t mean I should do it. Psychologically, I believe you are more committed to the process if it costs you something. Free is after all free. It costs you nothing therefore the value is nothing. Shop for value, not for the cheapest price. You will be glad you made the investment.
So, if you could stop yourself from doing everything, investing your time into DIY projects and doing things on the cheap I guarantee you will make more money and will have better quality throughout your company. When you value quality everyone benefits and will elevate your business to the next level.
Go do what you do best and leave the rest to professionals you trust!
If you need help with deciding what to give up, give me a call. I have great people that I know who can fill in the gaps and of course if its accounting or tax related we are your team! Let us help simplify your life and provide more value.