Amex Open Forum: You Can't Always Do It All

Written by chicceo Published in
I hear busy entrepreneurs say things all the time like “Instead of getting a bookkeeper, I'll just enter everything into Quickbooks myself” or “I’ll just save the money I would have spent on a designer and use Photoshop to create an ad.” But, when it comes down to it, they spend so much more time than what the project is worth.
In the video, You Can't Always Do It All featured on the American Express Inside Successful Small Business series, Jessica was so right that it’s a fallacy that time is money. Time is not money. In fact one of my favorite quotes by Carl Sandburg is: “Time is the coin of your life. It is the only coin you have, and only you can determine how it will be spent. Be careful lest you let other people spend it for you.”
What I interpret the quote to mean and what Jessica said are the same. Your time is more important than money for precisely the fact that you cannot make more of it even though time is often spent as if it were money.
As a busy entrepreneur with limited financial resources it seems intuitive that you can just save costs by doing the work yourself. No one said it was going to be easy, right? But, you know what  - you can’t do it all. And if you think that you can – you will drive yourself crazy because there’s always more to be done.
There are many conversations around balance and finding “the work-life balance,” especially when you own your own business. The truth is, the only way you can find any balance is if you delegate and hire out. There are people that are experts for a reason. They have found the thing that they do best, and just do that.
In Jessica’s example of the “Master Finisher”, you wouldn’t expect that a master finisher would be able to finish the table masterfully and then turn around and also complete your tax return, and create an advertising campaign. So why do we have such lofty expectations of ourselves?

Start running your business in the most efficient manner as possible by not doing everything yourself; learn to outsource and delegate and you’ll be able to concentrate on the part of your business that you are the most skilled at and you’ll be ready for a whole new world of success. “Spend the money to get the job done because what you’re really spending the money on is time, you’re time.”  

What’s one lesson you’re learned as either a business owner or aspiring entrepreneur? Share your response with us using #sharingadvice on Twitter or Facebook!


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