When I was starting my business years ago, a wise person told me, “Do what you do well and hire experts to do the stuff that is not your primary strength.”
I did not fully grasp the concept at first. I was wearing “all the hats” as the saying goes, but I quickly realized that accounting was not my strength. That is when I hired a specialist, an expert to help me. I did not hire a generalist or someone that “kind-of knows accounting.” I hired a CPA to guide me, coach me and help me. I used a specialist who knows the ins and outs of accounting, tax law and best practices. She guided me to a path of simplicity for my business expenses and I, in turn, was able to focus my attention on what I do for my clients.
When it comes to business, owners sometimes become complacent with doing things a certain way, ‘because that’s the way we’ve always done things.’ In these trying times, it is more important than ever to operate lean and efficiently. When it comes time to investigate a new product or service, do not delegate the task to an employee and hope they do a good job. That can lead to a mistake which might not be obvious and settling for suppliers that are sub-par. Use a specialist in the area of your need next time – that way you get the best.
Try to think about this in terms of your health. If you tear your ACL, would you rather go to a general practitioner or is going to a specialist like an orthopedic surgeon a better option? Why settle for anything less with your business?