What Is DIY Bookkeeping Really Costing Your Business

What Is DIY Bookkeeping Really Costing Your Business?

There's something incredibly vulnerable about letting another person see your finances. Those numbers represent years of hard work, your family's livelihood, and the employees who depend on you. Of course you want to protect that. After all, you've worked incredibly hard to build this business, and trusting someone else with such an important part of it is a big decision.

And I know delegating your bookkeeping costs money, which can feel especially difficult when you're trying to keep your overhead low. But a possible mindset shift?

If you're spending 5 hours a month on bookkeeping, what could those 5 hours generate in revenue if you were meeting with clients, completing billable work, or developing new opportunities? The goal isn't simply to spend less money. It's to use your time and resources, as the owner of your company, in ways that help your business grow.

Here’s what you could be doing with those hours instead?

•           Maybe you could finally meet with those potential clients you've been meaning to call.
•           Maybe you could attend a networking event.
•           Instead of reconciling bank accounts, you could be reviewing bids and submitting more proposals.
•           Instead of chasing down payments, you could be getting your next contract signed and started.

These are a few of the opportunities that can generate more revenue, create jobs, and help your business grow if you were to delegate your bookkeeping out.

Personally, for me, I delegate over 20 hours a week of administrative work. Delegating those tasks has allowed me to generate hundreds of thousands of dollars. It took years to figure out the balance of what I loved to do and what needed to be delegated out. But at the end of the day, if it was a task that I didn’t love and it was a time suck, it was assigned to someone else.

Your numbers tell a story, let's make it a good one
Crys

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