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Entrepreneurs are often expected to have a multitude of talents and the ability to thrive at just about anything they put their mind to. As a result, many small business owners work long hours and put themselves under a lot of pressure to learn new skills and cover every aspect of their business.
However, there’s a lot of truth to the phrase ‘jack of all trades; master of none’. When an entrepreneur tries to be good at everything, they run the risk of spreading themselves too thinly and halting business growth. Here are just a few reasons being a jack of all trades can be bad for business:
Having the ability to wear several hats can be a beneficial quality. It can enable you to think on your feet, react quickly to problems, and make informed decisions for the direction of your business.
Problems can arise if this approach stops you from focusing on one particular area. It can pay to hone your skills and specialise on one thing, rather than having your fingers in every pie.
As an entrepreneur, you probably possess a certain talent that you wish to share with the world. When you try to be good at everything, you deprive your business of the very skills that make you different from your competitors.
Entrepreneurs tend to be independent people who thrive on getting stuck in and fixing problems themselves. But when you try to do everything yourself, you increase the likelihood of mistakes.
It doesn’t matter how many Youtube tutorials you read and online courses you take, unless you have several years’ of coding experience, you’re not going to be able to do your website justice quite like a web developer can.
And without hands-on IT experience, no matter how many forums you join and troubleshooting guides you read, you’re going to struggle to fix complex computer and network problems without the help of a specialist.
If your business is still in its very early stages, you may be reluctant to invest money in outsourced services. However, investing in your company is a vital step in growing your business and increasing your earning potential.
When you refuse to invest money in your SME, not only do you waste your own time and run the risk of costly mistakes, you also stunt your company’s growth. By outsourcing certain tasks to external marketers, accountants, and IT technicians, you can ease your own workload and transform your business.
If a job’s worth doing; it’s worth doing well. There’s no point slaving away on a task you don’t fully understand when you can pay an expert to get it done in half the time and achieve double the results.