Buy your time back!

As an entrepreneur, you try to wear many hats – but your forte lies in those particular skills that encouraged you to start your business, not in bookkeeping or other office functions.  Decide what your ROI would be if you paid someone to do those administrative tasks. Compare your hourly rate with the value of paying someone who can do it faster and more economically – freeing you to make more money by doing what you do best!  The yardstick to use is, “how much does someone charge to do this task?”  If it’s less than 60% of what you charge your clients, then outsource.  Think about the time you spend filing, making labels, organizing, deciding what should be saved and what should be shredded, and then about how you could use that time contacting and meeting with potential clients or servicing current ones.  Don’t throw away your $200/hour time doing $35/hour work.

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