DIY versus hiring a professional

By MasterTax |

Would you get me to install your dishwasher?

Most small business owners are experts in their core business offering because they have years of experience and because they’re passionate about the product or service they provide.

But being going at your core business doesn’t immediately mean you’re good at business management. Making the transition from expert tradesperson to successful business owner isn’t easy.

Engaging a professional to help with setting targets, increasing cash flow and maximising your tax return might seem like an expense, but it’ll save you money in the long run. By trying to do all of this on your own, you could be missing opportunities and making costly mistakes.

It literally changed Sue and Brendan’s life

Recently I met Brendan and Sue who run a home improvement business with 1 employee. Brendan was working in the business and Sue was juggling the business book-work with family life. They felt like they were working so hard but could just never get in front.

We met with the busy couple to map out a Business and Tax plan, identifying exactly where they were at and establishing clear, focused business goals.

We also introduced them to Xero software – a game changer for Sue!

Investing in a professionally developed plan (and implementing it!) has allowed Brendan time to focus on sourcing new business opportunities. They have doubled their turnover and now have four full-time staff. Sue has returned to her part-time job and still has time to take care of the business records.

Muddling through with outdated systems and no clear road map to success was costing Sue and Brendan opportunities, money and happiness.

My wife is very keen for our bathroom to be renovated next year. I could try to do it myself, but it’d end up costing me more in the end.

So, I’ll get an expert to do it, while I focus on what I do best.

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