Striking a Balance Between DIY and Expert Guidance

Jumping on the bandwagon of entrepreneurship often gives one a sense of self-sufficiency, where the allure of DIY approaches can be tempting, but guess what?

The pursuit of self-sustainability sometimes leads to unforeseen challenges and unforgivable mistakes that have seen many going back into the workforce.

Since we ran an assessment that included our own experiences, I would like to delve into the pitfalls of freestyling everything and the importance of striking a balance between entrepreneurial spirit and expert assistance.

1: The Illusion of Self-Sustainability:

The idea of self-sustainability may seem to empower but guess what, it can be deceiving, particularly in those areas that demand professionalism.

The impression of mastering every facet of your business and the notion that you can play all the instruments at the same time while leading the band [the one-man band concept that is said to be the MSME style] can blind you to the invaluable benefits of seeking expert assistance.

2: The Freestyling Dilemma:

A few weeks ago, someone we spoke to told us to share this story. He launched a bar and restaurant using self-starters and refused to get them proper customer care training or orientation. He opted to train them the little he knew and hoped they would use common sense while learning on the job.

Sadly what had the potential of blossoming collapsed before it began because one can’t freestyle with drunk customers.

This leads me to conclude that the gamble of acquiring skills on the fly can compromise the quality of products or services because freestyling, or learning on the job, often translates to a trial-and-error approach, draining resources in sectors that demand precision and expertise.

Are you penny-wise and pound-foolish to hire expert help?

3: The Cost of DIY Mistakes:

Mistakes made during the DIY journey are often borne by the entrepreneur, translating into additional costs for rectification and income losses.

When a contractor freestyles on a building project, the respective professional is bound to disapprove of the work.

When they do, the QS won’t certify it for payment regardless of the measured work either.

Ever heard the words “the contractor is to make good at own cost”? Not only does this impact the financial health of the business but it also consumes valuable time that could be better spent on strategic growth.

Contractors, project engineers, architects, and the QSes will tell you that all substandard work is for your pocket so start asking for help.

4: Why you should embrace Expertise:

Contrary to the freestyling mindset, embracing expertise can do any business a lot of good, but more so, an MSME because yes, we are thrifty but that is not without a reason.

By enlisting the services of professionals in specific fields where business owners and their teams are not, businesses can streamline their operations, ensure higher-quality outputs, and ultimately save costs in the long run.

Instead of running the risk of repeatedly paying school fees and taking all the risk for it, you pay a professional who gets the job done once.

This way, the risk is transferred and you can hold them accountable for “making good at own cost”.

5: Ever felt the urge to abandon your ship?

I have, for a few days, weeks, months, and years deferred urgent and important tasks because I did not know how to approach them, and frankly, I did not have the time to pay school fees, I did not have a professional on the team, nor was I interested in paying one to get these done professionally and within the timelines.

I’m sure you too have.

If not, why do you have so many unfiled tax returns, why are your invoices and receipts stashed in an envelope or the glovebox, what explains your reason for being in bad standing with the Social Security Commission or the company’s registrar?

Is it not because you are waiting for a proper time to sort these issues out but that time isn’t coming?

Let me tell you what we know; the entrepreneurial journey is rife with challenges, and MSMEs often consider abandoning ship when faced with daunting obstacles.

The misguided belief that problems will miraculously disintegrate on their own, more like tax challenges will go away if you stop thinking about them can lead to missed opportunities for growth and development.

6: So then, what are the consequences of abandonment?

Opting to abandon ship might provide temporary relief, but the long-term consequences can be severe. Unresolved issues may fester, jeopardizing the very foundation on which your business stands and impede its potential for success.

This is how we missed an opportunity to bid on a lucrative project when we began.

I often give clients the example of the kitchen.

Piling dishes up while cooking is bad for your time, and convenience and can be costly but if you develop a workflow that allows you to wash, clean, and pack them away while you are still cooking, you will enjoy the meal knowing that the only dishes that you will need to do are the ones you will serve in and not dishes of last week.

This is what happens when we defer tasks and revert 2 years later.

The consultant fees will seem escalated but we choose to forget that someone has to dig out the dishes we had stacked up, scrub them one at a time, and return them to us squeaky clean before we can use them again.

Such a service surely can be costly if done at once but cost-effective when done periodically. How much have you been stacking away?

7: The Importance of Expert Intervention:

Instead of relying on wishful thinking, MSMEs can significantly benefit from admitting their limitations and acknowledging the value of expert intervention.

Hiring professionals can be the lifeline that propels a business through turbulent times, transforming challenges into opportunities for improvement and growth.

I had to learn this; Recognizing that seeking professional help is strategic, not a sign of weakness is the catalyst for long-term success.

Because of this recognition, I have decided to acknowledge my limitations and those of my teams and seek professional help.

I also learned that it’s only through leveraging expertise, that MSMEs will position themselves for growth, resilience, and future achievements, and that Management consulting firms like iExtol play a vital role in helping businesses overcome challenges and thrive in an ever-evolving environment.

Learn more about iExtol: Your Partner in Business Excellence

At iExtol, we understand all the challenges that MSMEs face.

If you find yourself in need of expert assistance to beat these complexities, we are here to help.

We are a Management and Consulting Firm and our Services include:

Strategic Planning, Operational Management, E-Transformation, Business Development, Project Management, Scrum, Tax Advisory, and Compliance Management

Contact us today to explore how iExtol can be your strategic partner on the path to success.

Contact Information:

? Email: [email protected]

? Phone: [+264 81 786 5962]