As business owners, we do our best to minimize our expenses while trying to maximize our revenues. Too often we become revenue-focused and pour the majority of our time and energy in to producing more revenue. This naturally leads to a decline in the aspects of our business that don’t directly produce the revenue. We get behind in our billing, our administrative tasks, our marketing efforts, and more. Eventually, a situation or problem arises that makes us stop earning and start administrating. This leads to a condition of crisis management, often referred to as “firefighting.” We need to accept the fact that we often need help to operate our businesses at peak efficiency.
I have learned that I am not good at everything my business needs to function at peak efficiency. I am knowledgeable of many areas of tax law and I have never lost an income tax audit in over 27 years of practice! At the same time, I am not as knowledgeable about technology, investing, and marketing as I need to be. I have come to accept this reality, and am fortunate to have found knowledgeable people to outsource those functions to. I have a brilliant local IT professional helping me with my technology, a super client-oriented investment broker to assist my clients in wealth management, and a wonderful marketing professional who is rocking my world with new ideas. It is all good.
Sometimes we just need to accept the reality that we can’t do it all…well.