Executive Business Coach Chuck Boyce: Yes, You Can Have Too Much IndependenceWhen you first decided to become a business owner, you most likely accepted the fact that you’d be doing a lot of things on your own. Perhaps that was even part of the attraction. The ability to get things done without having to wait for approval from some higher-up, or for part of your job to be completed by a coworker or subordinate before you can move forward, can be extremely satisfying. Of course, not everyone feels that way – but small businesspeople do. We’re an independent breed. Still, when it comes to independence, you can have too much of a good thing. Sometimes, your business – and even your life – can benefit from letting other people share some of the load. Common wisdom tends to dictate that the least expensive way to do things is to do them yourself – especially in our current era of economic belt-tightening. But is this always the case? The website Couponsherpa.com recently looked into situations where it’s actually less expensive to hire a professional, and the results were illuminating, if not entirely surprising. Most of us know that it’s less expensive – and a lot less messy – to let a mechanic change the oil in your car. After all, we’re not trained in the ins and outs of automobile service. But how about filing your tax return? Do you struggle with the piles of paperwork and boxes of receipts yourself, or do you let a pro handle it? Chances are, a tax professional will save you more in additional deductions and general peace of mind than the fee you’ll pay for the service. How about when you decide to save a few bucks by printing your business cards and stationery on your laser printer at home? Chances are, you’ve tried it. But if you haven’t yet, don’t bother. Thanks to the cost of ink, it’s actually more expensive to create your own cards than to have them professionally printed. The same theory also applies when it comes to other aspects of running your business. Part of being a successful independent executive means knowing when it’s best to handle things on your own, and when you can benefit from bringing in extra help, from an expert who specializes in something you don’t do to an additional pair of hands when you’re overloaded. Of course, when you’re already trying to do everything on your own, it can be difficult to find a minute to even think about what jobs you might delegate to someone else, let alone take the time to find the right person (or people) to handle them. As a small business coach, I run across this problem all the time. In fact, part of what I do is help clients determine where they’re excelling entirely on their own, and where it might be more cost-effective to share the load with someone else. A rule of thumb is to concentrate on what you do the best and what you get paid for. Hopefully, those two go hand-in-hand. When it’s an area that you’re either uncomfortable with or will take too much valuable time away from your core business, it’s best to pay someone else to handle that task. Your time is valuable – treat it that way. “Independent Executive” Chuck Boyce is an experienced small business coach who can help you get the most out of your business. For more information on how you achieve your business goals, go to www.breakingfreeblog.com. |
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