Perfectionism and Analysis
Paralysis
Square peg into a round hole
Situation:
“I just hate doing it.”
“I need to set up everything just so, then I’ll go in
and get all my expenses in order.”
You have been working on a perfect chart of accounts for ages. You have been working on the
perfect invoice template for months. Nothing has
been entered or recorded anywhere.
You’ve been researching which bookkeeping system to use for months. This led you to question if
you’re using the right credit card processor, which
led you to question the bank you’re using. That’s
right you’ve been sucked into a tornado of too
much information.
Solution:
Just start. Trying to make everything perfect before
you even begin is a fool’s errand. There is no perfect, only progress. Even in bookkeeping, you can
always go back and fix things. More often than not,
there are ways to do bulk changes easily, with the
help of your bookkeeper, accountant or even the
right software can do the job.
So, that means you should start now. If you haven’t
been tracking your revenue or your expenses at
all, start somewhere. Here’s a quick guide to your
options.
If you have a system, but haven’t started using it,
schedule an hour a week to enter the information.
Remember: you can always fix things. It takes
more time (and often more money) to go back and
enter transactions later.
Back in my sewing business hey-day, before I
switched it to a fabric retailer, I used to get swept
away with the perfect method for finishing the
waistband on these tiny skirts for babies. I was
focusing on getting them to work better. By doing
so, I was avoiding making anything at all, only to
realize in the end, I did not enjoy making baby
clothes. Our drive for perfection can often hide the
truth from us.
Situation:
My sewing example leads right into this. If you
hate doing something, that doesn’t mean you
should force yourself to do it. You don’t deal with
your finances because you just flat out don’t care
or detest dealing with math and anything related
to it. The more you try to understand, the more
frustrated you get.
Solution:
Get someone else to do it. That’s right. You do not
have to be all things in your business. Shocker, I
know.
For me, it’s dealing with social media. I can deal
with numbers and data all day long, but ask me to
come up an original Instagram post and I will do
anything to avoid it. Yet, in today’s world, there is
no avoiding social media. Answer: outsource that
shit!!
Similarly, you cannot avoid bookkeeping as a business owner. But it doesn’t have to be a necessary
evil, if you are paying someone else to do the parts
you don’t like. Now, does it mean you don’t have to
pay attention to the findings? No, reread problem
#1 and repeat. It’s what we do with the information that helps us succeed.
Goal basis
Situation:
“When I reach ‘x’ in revenue, then I’ll hire someone to help me.”
“When I make this many in sales, I will take a look
at how much I spent.”
“I set my price based off what people are willing to
pay.”
Solution:
Don’t rely on outside factors to determine how you
run your business. You need to establish systems
and standards or else, you will always be run by
your business, not running it.
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