Are You Hiring a Fool to Work For Your Company?

By Igor Mordkovich on Jun 19, 2006 in Business Wisdom, General

Most business owners consider themselves to be an entrepreneur material, OR better yet, “Born Entrepreneur” and that’s great, but sometimes this can get in a way of their business when they think they can do it all.

I am talking about business owners in the stage of a start up trying to save costs by doing things themselves and not hiring a professional instead.

From my experience … you should not try to do things you “think” you’re good at. The problem that many businesses fail today is that owners …

1. Want to save money by doing things themselves

2. They “think” they can do it all

Problem is, that sometimes business owners mess up by doing things that they could have had a professional do for little cost. To me it’s silly when a businessman sits down to do a 8 hour job that a pro could have done in 1 hour for $100

Now, you might say Igor, when people start their businesses every $100 counts and I will agree, BUT you have to always calculate what your time is worth. Is it worth for you to spend 8 hours on something instead of forking over $100 and doing something else more productive or important to the business?

Other than cost, a pro will do a better job. Why do you think that successful business owners say that you have to hire people who are smarter than you are?

Yes, it’s great that you want to do things yourself, BUT be smart about it. It’s the same as being your own attorney … you’ll have a fool representing you.

2 Comment(s)

Absolutely! It’s sooooo tempting to want to save money and do everything yourself, but usually it just costs you more, but in other ways.

The flip side of this is that there are often jobs that you can do faster and better than if you hired them out. Problem is, while you can do everything better, you can’t do it all at once and get it done. I’d rather pay someone to do a job and take TWICE the time I would take, it it frees me of time that would be better spent on more important matters. But also remember that person you’re paying will eventually be able to do it better than you, which is EXACTLY what you want!

St0n3y | Jun 19, 2006 | Reply
“The flip side of this is that there are often jobs that you can do faster and better than if you hired them out.”

I know what you mean. But when it comes to things that a professional SHOULD do instead of you wasting time, it’s best to hire a pro.

Igor M. | Jun 20, 2006 | Reply