DIY Mentality

We all want to save money both in our business and personal life. One way to do that is Do It Yourself (DIY). But is that always a good idea? Could I do my own electrical, plumbing, car repair, website, signage, home inspection, legal, accounting, landscaping, HR, IT, marketing, counter tops, coach my own business, edit my own book, etc. Yes, we may be able do those things but should we? How good will the work be? What are the risks of doing it poorly? Short term savings – maybe. Long term consequences – probably. Do it right or do it over – probably. Potentially disastrous consequences – fire, leak, employee problems, IT systems crash, IRS issues, lawsuits, poor performance in general and in all too many cases – bankruptcy. Over ½ of small businesses fail in year 1 and 75% are gone in 5 years. Does DIY really save money? As the old Fram oil filter used to say: “pay me now or pay me later”.