WHAT IS YOUR TIME WORTH TO YOU?by PBS Inc - RL Adams on 11/13/15
WHAT IS YOUR TIME WORTH TO YOU?
If your time is worth $100 per hour and it takes you 10 hours to reconcile your books and / or prepare taxes, that's costing you a $1,000.00 to do these tasks yourself. And there's always the risk of errors when multi-tasking like so many business owners do. Having an accountant perform these tasks will require less time because of their expertise and cost less in the end run. In addition, there is peace of mind that your accounting is done correctly the first time.
As a small business owner, one of the biggest rewards is having control. You can set your own working hours, craft your business strategy, regulate your workload (at least to some extent) and determine your own finances. And being the master of all of these things is an empowering and liberating feeling.
Unfortunately, this can be a hard habit to break out of because of our reluctance to delegate and ask for help. You might feel that no one can possibly know your business as well as you do, therefore nobody can handle any part of your business as well as you can.
At some point you will have to let go, and learn to trust other people to handle some parts of your business so that "burn out" doesn't consume you. Your business should be created to support the kind of life you want to live and that also means taking time to take care of YOU.