Many of us have used a 'Pros and Cons' list to help us make an important decision. But is it the best way to come to a wise decision?
We could make a pros and cons list of using a pros and cons list, just for fun...
- provides a thorough dissection of the significant factors
- gets all the ideas out of your head
- it's a record of factors if you want to go back and second guess yourself
- easy way to consider options and the opinions of other parties
- can slow down decision making, which can cost you money or opportunities - analysis paralysis
- it equally weights all the factors - (whereas one Con could be more important than all the Pros, or vice-versa)
- it will help you rationalize a bad decision
Humans are wired to make choices based on deep-set and powerful emotional drivers. We then use logical data to rationalize and explain our decisions. 'I had to get that new $40000 truck - it gets better fuel economy than my old truck. And that old thing is gonna need new tires soon. I got a good trade in allowance and got a discount. I needed another tax write-off, and well, I couldn't afford not to do it!' Meanwhile some of our real reasons for getting it was because it's our favourite colour, it makes us feel successful, it can tow the camper better and it's pretty exciting to pull the trigger on a big purchase. But those reasons don't always go over too well with the accountant. Or our spouse.
There is a better way...
Capacity: 'the maximum amount that something can contain'
'the ability or power to do, experience or understand something'
I love my morning green tea or dark coffee from a press. I love to drink it on the go out of my favourite house mug, not a travel mug. So there I am in the truck with a full mug of hot tea with no lid. It's dumb - especially because I like a clean truck. But I keep doing it, foolishly believing that all roads will be smooth today. Maybe I'm an optimist.
Everyone has their own capacity mentally, physically, financially, creatively. We have limits. There are only so many things we can pay attention to, only so many things we can accomplish. And it's different for everyone...
The two best days to hire a bookkeeper are the day you open your business, and alternatively, today.
Tomorrow is the wrong day to hire a bookkeeper.
Tomorrow means it's not a priority and can be put off until it becomes critical. Which is definitely is the wrong day, because when it becomes critical it means it's costing you a lot of money. Money because you have to take time away from producing and serving customers and allocate it to organizing that you put off in the past. Money because you likely will have lost or missed claimable expenses. Money because you may face penalties and interest for late remittances for GST, taxes, WCB and maybe payroll remittances. Money because you may not receive rebates and refunds you may be entitled to.
Two reasons you may be putting this off are because it requires a little work to get organized. But a bookkeeper can walk you through the process and help you with all that paper work stuff. A second reason may be because you feel it's too expensive - you just can't afford it. Let's analyze that one a bit closer...
WHY: WORK SMARTER, NOT HARDER