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Feb 10
2017

Specialized Help Saves Money

Posted by: Steve Marr

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I recently encountered a computer glitch which I struggled to work through. Rather than continue to frustrate myself and waste time, I hired somebody for $60 to fix the problem. The money was well spent.  

In your business it is important to know when to hire a specialist to do tasks you cannot do or could accomplish more effectively with their help. When you do, you allow yourself and others to concentrate on higher value work.         

 

This is called the division of labor. We see an example in scripture: “So the craftsman encourages the smelter, and he who smooths metal with the hammer encourages him who beats the anvil, saying of the soldering, ‘It is good’; and he fastens it with nails, so that it will not totter.” (Isaiah 41:7, NASB) Each job was done by a different person likely because each had a different expertise.

The more valuable your time, the more work you should hire out to a specialist. I could have figured out my computer glitch but at what cost to my time? My time in dollars was more valuable than the $60 I paid.  Of course if you don’t have $60, you have little choice but to figure out the problem on your own.

When legal issues come up, I clearly don’t have the background or expertise to act as my own attorney.  While I have a working knowledge of some business and contract law, I need the advice of an attorney before I move forward on a transaction. This is an example of hiring knowledge I do not have.

The cost of not using a specialist could be more expensive than paying for one. I have encountered a number of business people who wished they had hired an attorney to review a contract before signing it. Other circumstances may be less obvious but equally painful. For example if I was starting a retail store, I would hire a specialist to help me find the right location.  I would want information on traffic counts, area demographics, information on competitors and other important factors to ensure finding the correct location.  For a few thousand dollars I could pay a specialist whose work would likely pay dividends 10 or 50 times over in the future.

How could you hire a specialist that would save you money?  Where do you need expertise to prevent costly problems?  Answer these questions for your business and take appropriate action.


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