When it comes to operating a Small Business Enterprise, Business Owners tend to be very covetous over the running of it .. In fact most are adamant they want to DIY everything – including constructing web sites , marketing, book keeping etc etc. But is this the right approach or not ? Consider for a moment the following :
“THE RICH USE THEIR MONEY TO MAKE BEST USE OF THEIR TIME”
“THE POOR USE THEIR TIME TO MAKE BEST USE OF THEIR MONEY”
There is clearly a major case for looking at how to emulate the rich and to maximise on the opportunity of making more money through better us of time .Improving efficiency through outsourcing Non core Business functions to people that can do it cheaper and more efficiently than you can . For the perfectionists I suggest aiming for 80% perfection levels through using a 3rd party as the gains in the efficient use of time will probably out weigh the difference in levels of perfection.
Few Small Business owners ever stop along the way to ask if they are making the greatest and best use of their time. At this point the Small business owner is already mired in the process of becoming a mediocre bookkeeper. Bookkeeping is a bit like quicksand. The harder you struggle with it, the deeper you go, and the more draining of your time, energy, and enthusiasm this DIY project becomes.
Besides that, a psychological pattern has been set of writing checks. Feeling pressure and pain, then Struggling some more to keep money in the checking account. The struggle is uncomfortable so to mitigate the pain, keep the check-writing to an absolute minimum. That means do everything yourself, don’t hire help. Those patterns follow into every other facet of the job of being a business owner. Massive quantities of time disappear, or conversely, the work doesn’t get done at all, in an effort to save money, with no thought what so ever given to the value of time and the compounding effects of investing it wisely.
The Business Functions that can be outsourced include :Business Accounting, invoicing and book keeping, Marketing and Advertising ,Web site design and maintenance,IT and infrastructure support , Procedures and operating manuals, Sales proposal and tenders.
Many business owners have spent hours trying to recover critical month end data instead of focusing on their business. Have these business owner calculated the time and lost production from a single system outage ??
We witnessed a small business owner sifting through the rubble in Christchurch’s Earth Quake and then carrying server and laptop . Is this the way to operate a business – is this the Disaster Recovery plan. Many small businesses don’t have a plan but rely on the possibility it will not happen.
Unfortunately , too many local businesses have adopted MITRE 10s statement ( DIY It’s in our DNA) approach to business and are suffering inefficiencies and unacceptable levels of risk as a result . They will never be better than mediocre and will not be able to get to the next operational level.
There are ways of overcoming this challenge and we are well positioned to help progressively minded business owners take the next step towards liberating their businesses and achieving better results .
To find out more contact firstname.lastname@example.org for a FREE BUSINESS Readiness Audit Valued at $ 297