Trading Money for Speed (Or When It’s Smart To Spend Some Coin)
- September 10, 2012
- Posted by: Rochelle
- Category: Mindset
Most of us start businesses, create practices, write books because we have something to say.
Ideas to hatch. Problems to solve. People to reach.
So why do we spend so much time on what doesn’t matter?
Case in point: “Sheila”. Author of two brisk-selling books, she has name recognition in her field and commands mid six figure fees for consulting and speaking.
One of the first times we spoke, she was making her own travel arrangements for a complex set of meetings/appearances in four cities over two days. She was cranky and tired, not exactly excited about the trip. Asked if she’d considered hiring a virtual assistant, she quickly poo-pooed it as a “waste of money and time”.
Later, when it was time to overhaul her website for a media blitz, she wanted to wait three months so that her very busy husband would be able to do the work. His attraction as webmaster? He was free.
Showing her the cost of waiting helped her to decide that speed was worth some cash. But in the end, it wasn’t logic that convinced her—it was the feeling of saying yes to something bigger.
Where could you trade cash for speed?
Here’s a test: how often do you use something you dislike as an excuse for doing something that really matters?
“Sorry, I’m too busy balancing my books, evaluating billing software, cleaning out my sock drawer” to…write that article, rethink my website, make that new business call.
THAT’s when it’s time to trade cash for speed.
So unless you are a CPA, you shouldn’t be doing your own taxes. If you’re not a graphics designer, ditto on your logo and web design. And don’t even think of learning WordPress just to save a few bucks on technology.
There is a parallel rule to this: don’t “hire” your kid (or a pal) to do your website just because they are under 30 and therefore must know about digital marketing. They don’t. Your website will reek of amateurism.
Spend some coin on the right stuff. Maybe even serious coin.
Think of it as an investment. It’s giving yourself permission to grow faster AND love more of what you do.
4 Comments
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Congratulations, Rochelle: your post is full of common sense. It´s really simple to get the things working on when you stop for a while and think…..
Everyone understands it. But, who does stop to think?
Bes regards,
Hi Pedro, Thanks for joining the conversation from Madrid!
As an attorney I generally agree. At the same time, I did use my son’s services to build my website and he taught me enough code that I can make changes more quickly than the time it takes to compose and send an email to a “webmaster”. Similarly, I insisted a website being re-developed for a client be revised so I can similarly make those same simple changes. Speed in reverse. I concede for graphics or something similar, I use an appropriate professional. Just as important the professional you might use to save time can prove a rather useful source of business referrals.
Thanks Corey–sounds like you’ve designed a system that works. And, an excellent additional point on referrals. Our providers should want to send us referrals just like we refer others to theme…