You’ve finally taken the leap to start your own business - only to be slightly *shocked* by how much things cost! We’ve all been there. It makes sense that your natural reaction might be to immediately find ways to spend less and save more until you're generating ~actual~ revenue.
But, here’s the catch -
What starts as an effort to save money usually ends up costing you more in the long run.
Why? Because you aren’t - and never will be - an expert at everything. A big myth I want to bust is that being self taught is not the same as being an expert. With so many resources at our disposal online, it can be easy to think you can learn enough to “get by” on certain topics.
You think you’re getting by - but your audience won’t be impressed.
When a non-expert (re: you) tries to do things that are outside of their area of expertise, those things are just getting done at a mediocre level.
Who wants mediocre for their brand? Not you, not me, not your customers. Yet, we so often settle for mediocrity by stubbornly DIY-ing too many things. Eek.
To get out of the lame, mediocre zone of "DIY business", you will have to mentally shift to being comfortable investing in experts. Instead of clinging to each dollar in desperation and spending valuable time attempting to do things you don’t know how to do well, I challenge you to outsource.
Trying to DIY your business to save money will most likely cost you money in the long run.
Let's imagine a little scenario:
You need a website to sell your product and gain brand recognition. A professional web build requires an investment of, let’s say, $4000. You decide to save that money now, and build your website yourself.
So, you spend approximately 40 hours…
looking at other websites
learning a new software
Undoing your mistakes
troubleshooting some more
google-ing some more….
That’s 40+ hours you are NOT:
Developing a brand strategy
Creating your product
Expanding your network
Sleeping, eating, etc.
DOING WHATEVER IT IS YOU’RE ACTUALLY GOOD AT
Okay, okay, but say you DO finish your website on your own (congrats). After about a year, you know it’s time to revamp. Maybe it’s not serving your customers, or maybe it just doesn't align with your brand anymore. Either way - now you’re ready to invest in the $4k website design.
But, instead of just investing the $4k, you’ve also invested your original TIME spent building the website PLUS any revenue potentially lost in the first year due to blind spots in your DIY website build. Yikes. That’s much more than the original $4k.
Avoiding this dilemma requires a mindset shift.
The way you look at the financial side of your business is directly related to how successful you will be. When you see the value in your brand, your audience will too.
Okay, the word "investing" has been used a lot. Here’s why the distinction matters:
Investments are called investments for a reason - because you will see a return!
Investing in experts is one of my favorite things to do in business. Let me share a couple of reasons why:
It takes the pressure off of me to strive outside of my areas of expertise
It makes it easier to keep my customer really happy
When I get to focus on my areas of expertise, or strengths, in my business I stay fulfilled, energized and motivated. I can also avoid the stress that comes with biting off more than I can chew and having to deliver - because it’s my brand at stake. This mental aspect of running a small business is so important to my overall success - and yours!!
My customers can also feel that stress, and they can sense when something isn’t quite right! By investing in and hiring experts for specific needs in my business, I can ensure that my valuable clients get the excellent experience they deserve!
You deserve to feel like you’re thriving and doing what you love. Just like your customers deserve the best when they purchase from you. As we’ve determined, it’s light years easier to accomplish both of those things when you invest in experts and don’t DIY too much in your biz.
For reference, here is a general list of things you shouldn’t really DIY as a new business owner:
Accounting & Bookkeeping
If you are a woman who has just started your business and you’re feeling overwhelmed, we want to support you in this beginning phase! Wild Ellis offers relational coaching for business owners as well as digital marketing services. Reach out to us today!