One of the few things I remember form an Economics course I
had in college was about the time vs. money factor. The professor said that when we have a task
to do we should look at it from the prospective of whether or not it is cheaper
and easier for us to do the task or to hire someone to do it for us. We talk about this a lot at BizWorks. We ask our small business owners to evaluate
their per hour worth vs paying someone to do certain things for them.
Things like doing your own books or answering your phone,
making copies, cleaning your office, etc.
You have to weigh out these things to see if you would be better off
paying someone else at a lower rate than you would make an hour. This would then free you up to spend your
time on the parts of the business that bring in money for you.
So as we welcome Spring, take a look at the tasks you do
in your business and evaluate them to see if you are actually losing money by
performing these tasks yourself.
Suzanne Cormier
Executive Director
BizWorks (Small Business Incubator)
Follow Suzanne Cormier on Facebook and
Twitter @BizWorksCenter
