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Specialisation - To DIY Or Not To DIY

Friday, May 12, 2017

Specialisation

Every small business has a knack for keeping things in house. There are times where that do-it-yourself mentality can really be a detriment to the bottom line.

Sure, it could save you a few dollars up front, but the long run costs could be immeasurable.

There are some great benefits to hiring a specialist that you can’t overlook before embarking on the journey down Independence Road.

Experience Counts

Obviously, a specialist has much more experience than you or anyone in your office. You can’t deny that someone who has done 1,000 inventory audits or market analyses is going to be able to provide the most accurate information for you. Consider what you need to get done. If it’s something fairly new, you need a specialist. Even if you only use the specialist the first few times.

Experience Costs

The other side of experience is that you will have to pay for it. However, you have to consider the cost of going at it alone. If you have your sales manager do a business audit, there’s going to be some inexperience as well as some bias. If he’s looking at the market that’s out there, he’s going to be looking in places he already knows. In the long run, the information you get from your sales manager is going to be incomplete. When you consider that you might be making decisions on faulty information, can you really afford not to hire a specialist?

Experience Pays

Whatever you’re using a specialist for, you will get the return on investment. Big corporations hire specialists or “consultants” because they want a scapegoat in case things go wrong. That’s not the case for a small business. Small business specialists provide invaluable information about your business, your competitors, or your market. They are giving you something that you can’t get on your own and they do it for a fair price. Consider the expense of having a team member create a report. Even if the information is accurate, how many hours of labour are wasted on this report? With a specialist, they do this every day. They can turn around this report in a few hours.

In the long run, a specialist is going to save you money because they won’t cost you direct labour. They also give you the most accurate information, but at a fair cost. The hours of their experience is something you won’t find at home and it will give you a huge return on investment.