Some things are great for DIY-ing, like cutting down your own Christmas tree or building your own bookshelf.
But are you DIY-ing your business?
You might want to rethink that.
I often run into entrepreneurs and business owners who think they have enough experience with their bookkeeping system (whether it’s QuickBooks, FreshBooks or an Excel spreadsheet). They say, “Nah, I’m good,” when it comes to the conversation about administrative services, including HR, bookkeeping, accounting and CFO services.
They’re getting reports that they think they understand from their systems, so they think they’re “good.”
I call this the DIY mentality or, more accurately, the “head in the sand” approach. They think they’ve got it covered, and because the wheels aren’t falling off, it’s not an emergency situation.
That’s part of the problem: “not an emergency” and “it’s getting done” do not mean that things are getting done right. That’s a flawed approach to thinking.
Here’s the truth: those reports aren’t necessarily revealing the real story of what’s going on in your business, or what could be going better in your business.
“Getting things done” and keeping your head above water don’t mean things are getting done properly, and it’s simply not good enough when you consider how many lives are impacted by the jobs that your company provides.
I know that “good enough” isn’t the vision you have for your business.
“Good enough” doesn’t move your business forward.
“Good enough” doesn’t create real value—it maintains the status quo.
Real value is moving your business forward to achieve your goals and dreams.
Here are 4 concrete things you may be missing out on by DIY-ing your back-office activities.
1. Sales. Yes, you may be losing sales. Do I have your attention now? If you’re the chief salesperson in your company, every moment you spend tinkering with QuickBooks or checking boxes on compliance paperwork is a missed opportunity to talk with prospects and make the sales that drive your business.
You’ve chosen to busy yourself with administrative tasks like HR and accounting, which we both know you hate, when you should be out having a positive impact on your company’s revenue, bottom line and reputation in the marketplace.
2. Best practices. Experts are experts for a reason. Why waste your time scrolling through articles and trying to read up on best administrative practices when there are highly trained, highly accessible experts who are already up to speed? The best part is that they don’t charge an arm and a leg for their services because they offer fractional expertise at your convenience.
Most importantly, that expertise is customized to your business, your region, your state and your industry. No article online can do that for you, no matter how hard it tries.
3. Benchmarking. How do you know how your business is doing against other firms in the industry or other firms of its size? Are you spending too much money in certain areas? Could you be spending less in certain areas and performing better by delivering a product or service in a more cost-effective way?
If you’re trying to DIY your business, you won’t have this visibility as to how you compare to other businesses. This is where an outside perspective from an expert can help reveal the real story behind your business.
4. A team approach. There is such a broad array of expertise available to you through TurboExecs and other administrative services. You’re missing out on expertise that can cover the entire back office of a business.
Imagine what you could do if recruiting, affirmative action plans, performance management, compliance, training, back-office workflow, QuickBooks, performance and operational metrics, budgeting, planning, forecasting, analyzing and more were suddenly taken off your plate.
Imagine how that would free you up to focus on moving your business forward and achieving your goals and dreams.
I know you have a grand vision for your business. But you can’t DIY everything and expect to get there.
What are you missing? Are you shooting yourself in the foot? Are you thinking small when you should be thinking big?
I encourage you to take a hard look at your business … and when you’re ready to start thinking big, call us.