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Never outsource something you don’t know how to do!
Yes, you read that correctly!
Imagine outsourcing your finances to your accountant but you don’t know what a P&L (profit & loss) statement is. How will you have a meaningful conversation with your accountant, and how can you expect your accountant to help you improve the business, let alone control it?
That’s not to say you need to understand all the tax laws your accountant knows, but you must know enough to control the process and ask informed questions.
And this applies to all areas of your business. It’s a core reason why being in partnership can work really well; there’ll be stuff your partner knows, and there’ll be areas you’re the expert in. That way you can cover each other’s backs and feel safer while you’re busy developing your business.
