Two and half years ago, as the economy was beginning to cycle down, I read an article by Susan Cramm. She suggested : It’s not what we earn, it’s what we keep. Spend wisely, and your dollars will go a lot further than you think.
She argued we had probably outsourced too much and that we needed to find a balance between productivity and loss of control. Living within our means personally, might mean mowing our own lawns and cleaning our own homes. As business owners, to save money and remain in business, she suggested we might have to make the same frugal choices in our businesses.
Over the last few years, we have all made compromises. While I don’t believe as a business owner I should be doing all the work myself, I have paid closer attention to how I spent my money particularly all those internet services, at $5.99/month. They can really start to add up.
But things are picking up. The phones are ringing more, we are closing more deals and it is time to reevaluate expenditures again. One of the traps small business owners fall into is forgetting that doing it yourself has a cost as well. So what am I investing in?
- Outsourcing IT to IndyIT Professionals – I am tired of pulling wires, hooking up computers, and trouble shooting systems when a virus attacks.Turning these functions over to someone who knows what they are doing, lets me spend more time doing what I do.
- Outsourcing Payroll to Marietta Financial Services – While I don’t mind signing the paychecks, spending hours sorting out payroll taxes was never a good use of my time.
- Another team member – It is always a little scary to bring on another person. Will you continue to have enough work? But if we don’t expand, we can not grow, so if you know someone who might be a good fit for Roundpeg, send them our way.
What are you investing in or outsourcing in 2011? There is no one right answer for all businesses, just a right process. Now is a good time to look at your expenses, and figure out where your money will best be spent. As always, when you need to spend, you need to spend wisely.
Have a question? Contact Roundpeg, an Indianapolis web design company.