As a business owner, you wear many hats. A can-do attitude is necessary when it comes to tackling the multitude of new business challenges.
However, that attitude can be a double edged sword.
In order to be financially successful, you may need to take off a few hats, and bet on your strengths. Here is why.
Recently I found a sleek, black blazer at a great deal. It was perfect besides needing tailoring. I can repair a frayed buttonhole and throw together a crude pillowcase, but that is the extent of my sewing prowess. So I had three options.
Wear a baggy blazer.
Con: I look frumpy.
Enlist the help of a seasoned tailor.
Con: I have to pay them.
Tackle the project and learn how to sew.
Con: It takes time to learn the craft, and I may butcher the blazer in the process.
Let’s flesh out Con #3.
I would need to spend weeks watching YouTube sewing tutorials.
Practice makes perfect; therefore, I would need to purchase a few guinea pig blazers from the thrift store and try my hand at tailoring. (Read time and money).
Not being a seamstress, I do not own a sewing machine. Add that to the list of purchases.
Let’s fast forward. Dozens of hours and a hundred (plus) dollars later, I have a tailored blazer that looks halfway decent if I am lucky.
Now, if I needed to tailor 10 blazers, the time and money spent on learning this craft may be worth it. However, if this is a one-time task, I am better off outsourcing this work.
The same principle applies to business.
“But it is expensive to outsource,” you protest.
Yes, it can be. As a (possibly financially struggling) small business owner, YouTube tutorials on designing a website, creating marketing videos, and implementing social media tactics can be invaluable in saving you money.
However, sometimes you need to spend money to make money. There are certain tasks that will take huge chunks of your time, energy, and even money to learn from scratch that may be best to outsource.
Therefore, bet on your strengths.
What can you do better than others to make money in the wellness space? What do you do poorly?
Perhaps you are great at public speaking, but you are a weak writer and do not excel at copyediting. Spend your efforts marketing and booking a few more speaking gigs this month. Use some of that extra money to hire a copy editor to help you improve your website copy and marketing material verbage. One glaring grammar mistake could turn off a customer. It is worth the investment to outsource at times.
Now take action by analyzing these questions.
What are your strengths in business?
What should you outsource?
Share your comments below. I look forward to hearing from you!