Up until this point in my career I have always done our software demos myself. I always figured, why pay someone to do something that I can do myself easily.
Unfortunately, this is not the correct mindset to have when running a business. There is a concept called comparative advantage that proves that this mindset is poor thinking.
Comparative advantage means that it is better to capitalize on your strengths than to shore up your weaknesses.
A general rule that many recommend is that if someone can do something 80% as well as you can, they should do it so as to allow you to focus on your core strengths.
If you want to build a house, it is probably more efficient to hire a general contractor and specialist who do the kind of work the project requires every day.
Comparative advantage also explains why diverse teams consistently outperform homogeneous teams.
Having a wide variety of team members with different skills and backgrounds is a major asset; it increases the probability that one of your teammates will know what to do in any given circumstance. If every team member has the same skills and the same background it is far more likely that the team will get stuck or make a preventable error.
Sure, self-reliance does naturally grow our abilities,our flexibility, and knowledge over time, but too much self reliance is a costly mistake.
Working with others can help you get more done, faster, and improve the quality of the end result.
Sometimes, it costs more time and money to attempt to do everything yourself. If you find yourself struggling with certain components of your business, it might be wise to hire a pro to take on that which you are struggling on and focus onyour core abilities and those which you enjoy doing most.
In the spirit of comparative advantage and me learningto get over the Do It Myself attitude, we finally had someone with a bit better speaking voice and skill in doing software demonstrations complete our demo for our daily deal software Daily Deal Builder.