According to Investopedia (29,883 followers · 5,622 tweets): "We believe individuals can excel at managing their finances. We empower investors by providing free educational content & tools"
I believe this applies to anyone especially those who are self-employed or starting up in business, and not just finances but also other areas of our personal and working life.
It's good to outsource work...it frees up more time for you to tackle other pressing tasks/matter, you have a professional taking care of the task and providing you with an excellent output... but before you do that, ask yourself:
Do I really need to outsource this work, do I have enough fluid cash to spend outsourcing or can I DIY it and If I chose DIY,
1: how committed am I to DIYing it,
2: how committed am I to learning/acquiring the skills required to DIY it,
3: have I got the time to invest in this DIY
4: do I believe I can produce an excellent work if I DIY it
5: How urgent is it, is it something I can do overtime..or is it something that needs to be done urgently
6: Is the amount being saved worth DIYing it
Am a firm believer in DIY because:
1: Not only am I gaining new skills (rmbr, no skill gained is wasted or a waste of time), I can tell in the future when I outsource the work, if it was done properly and if the amount am being charged is appropriate to the task outsourced
2: In terms of my business, I get to know the ins and outs of every aspect of it. (when you know your business well, you can easily tell when and where there is a problem or a potential issue may arise from...and fix it thereby saving yourself a lot of money. When you don't know your business very well, you waste time and money diagnosing the problem instead of solving it. Sometimes potential problems that could have easily be spotted enabling you to carry out damage control or even stopped early enough slip by you and turn into thousands (money wise) going down the drain, even potential law suits)
3: It's cost effective. I can't begin to tell you how many thousands I have saved myself DIYing work. There can be down sides but they are consequences I have firmly considered and willing to live with. (so gotta make sure that when you DIY, you can live with the downside, else outsource! outsource!! outsource!!!)
4: It enables me grow with my business. (think about it, you know more about family, friends you grow with...you see or spend time with on a daily basis than the ones whom you drop-in on every once in a while). Growing with my business, I see every progress and success achieved (little or big), every milestone reached, every corner turned, every height attained and I celebrate each giving me the motivation I need to carry on. Face it being a self employed, you need every motivation you can muster (it's not like when you have a boss keeping you in check and on task), you have to boss yourself, check yourself. Trust me, it's not the easiest thing to do. Plus, it can be very lonely (e.g. in terms of, there are extremely very few people with whom you can share your business models, ideas, issues/problems and receive an unbiased, undiluted effective response)
5: I gain more knowledge and achieve results/growth/expansion beyond my wildest dream. Whilst carrying out researches in other to DIY more effectively and produce outstandoing work, I always run into (come accross) new ways to do something or new information that push me to think outside the box or that I can apply to my business...effectively moving it beyond the scope I had set it earlier. That's how growth occurs.
6: I learn to be more independent business wise, more focused, determined, decisive, in control of my business and destiny, confident as I can speak about different aspects of my business or plans with authority, more relevant to others business wise, hence more effective in what I do. As a result, I don't shy away from problems am not familiar with...I always try to find ways to get to the root of it. Be open to learning from available sources/resources (never turn up your nose at a source) in other to professionally develop yourself
Business is not for the faint hearted. In business, "you gotta go hard or go home."
You want success:
1: you gotta put in the hours,
2: you gotta work hard
3: you gotta quit whining, passing the blame
4: you gotta know your stuff
5: you gotta be the business, see your dream, reach for it (don't wait for someone to do it for you)
6: you gotta be the first in and the last out (it's your baby...you take care of it and it will take care of you)
7: you gotta be on the ball, keep your eyes on the prize, gather every skill, knowledge, intell to get there
8: you gotta know when to PUSH THROUGH, STOP, LET GO (very important)
9: you gotta be open minded, willing and always be ready to learn (your business grows as far as you know),
It's also vital that "as you work hard, you play hard"....
- else what's the point of all that success,
- plus you gotta be alive, really alive (mentally, physically, emotionally, spiritually balanced and in tune) or you'll not only miss opportunities, you could lose it
Be money smart...spend wisely!
Ps: DIY means 'Do It Yourself'
Ps: DIY means 'Do It Yourself'
By OGN Okafor
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