I started my first company with $500 — barely enough to cover the costs of incorporation. So, right away, I developed an addiction to doing everything myself. My partner was  capable of and willing and able to do just so much, and I found myself doing a lot of admin tasks I never anticipated. Those tasks came with learning curves, and they took up valuable time and energy — energy that could have been directed at helping the business grow.

I didn’t make this mistake twice. With my second, far more successful attempt, I contracted out my half of the business just a couple of months in. Although my expenses grew, I could begin to focus on doing better work as well as devote time to business development. Both actions helped to grow the company far more quickly than my previous money-saving attempts at being my own bookkeeper.

So, resist the urge to cover all the…

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