Advice:When doing it yourself becomes a false economy

By , published on 11th November 2010

So, you’re in business and gone are the days when a regular pay cheque finds its way into your bank account.  You’re not sure what tomorrow is going to bring in terms of new clients and the last thing you want to do is think about paying out for unnecessary expenses.  Whether it’s providing your service, answering the phone, doing the accounts or booking your train journeys, you’re going to do it all yourself and save yourself some money.  The only trouble is, trying to juggle so many responsibilities is not only leaving you exhausted, but you still don’t have time to grow your business and seriously wonder whether you’ll ever be able to.

Most small business owners tend to go it alone at first, taking everything on themselves in their bid to save money.  Actually though, more often than not this ‘do it yourself’ mentality becomes a self-defeating false economy which leaves them trapped and unable to grow their businesses.

Unlike working as an employee, when you are self-employed your time is money and you get to choose how you spend that time.  You can either spend it providing your services at however many pounds per hour you charge and work on bringing in loads of new and profitable clients, or you can spend it doing the filing and sending out emails and all the other time-consuming but ultimately unprofitable admin tasks.

Basically, if it costs you less to pay somebody else to do something than you can earn in the same amount of time, then there’s really only one logical choice to make.  There is only a limited number of hours in the day and building and growing a profitable business means focusing as many of those hours on revenue-generating activities as possible.  If you don’t need to do it yourself, then let somebody else do it.

The beauty of modern ways of working is that getting outside help doesn’t have to involve employing full-time or permanent staff who just create more admin and drain your resources.  Look on websites such as Elance.com and PeoplePerHour.com and you will find tens of thousands of freelancers in just about every specialism you can imagine.  Most, if not all, are available on a contract by contract basis so if you just need somebody to set up a website which would otherwise take you weeks to learn and cost you valuable time and money in the meantime, you can simply hire them for a single project.  As sites such as these generally work on a bidding system, you won’t be paying an arm and a leg either.

Virtual assistants, whose services can also be secured on sites such as those mentioned, can be invaluable in terms of reducing your admin load.  As they too are self-employed, you are not lumbered with onerous tax and national insurance implications and finding office accommodation is not an issue because they work from their own locations.  As professional people who are skilled within their own fields, they are qualified to do the jobs that eat away at your valuable time and prevent you from generating revenue, quickly and effectively.

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Ford Henderson

About Ford Henderson

Ford Henderson is a client attraction marketing expert. He works with professional service business owners across the UK to help them market their business to get a continuous flow of profitable new clients

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