'By Amanda Weathersby, Partner, The Profitable Idea
Today small business owners are all powerful! For their companies they can create videos and post them around the world, self-publish an e-book, design ads, set up websites, fashion an invoice and payment processing system online, develop personalize training programs, establish a payroll processing structure, produce a revenue and expense tracking system to make reporting and taxes easier, devise a prospect and customer communications system to stay in front of their market, recruit and hire new staff online, and so much more! And the business owner can do all that in their free time. After they brew beer, bake bread, provide customers with IT services, redesign client’s websites, or grow specialty produce.
None of us wants to lose the ability to 'do it yourself' to save money. But we need to remember that doing so much of it ourselves takes up more than half our time, time we cannot spend creating and selling our products or providing our billable services to clients. Ultimately one of the causes of so many small businesses not being profitable and a third of business owners not earning an income is overdoing ‘do it yourself.'
Are there strategies to reduce the amount of time we must spend on automation that supports running a business so we can spend more time on the business itself? Yes!
All the best!
Amanda Weathersby, and Cynthia Flanders are Co-Leaders for the Profitable Idea LLC, which is now online!
© Copyright The Profitable Idea, 2023
“The workshop provided me with insight that I have never heard before. I appreciate all the help, kindness, and willingness to guide me through the realistic view of my firm’s financial outlook. I will use the provided tools over and over.”
G.B., Technology Business Owner