Hey, how are you? Steve Greenhalgh, stuckinatruck.com. In today's video, I'm going to talk about being penny wise and pound foolish. I'm also going to talk about outsourcing and building teams. Most of you will think, “Oh no, I'm not ready for that. It's too expensive.” You'll actually be closer than you think. And the sooner you do it, the better it will be for your business and your sanity. Okay?

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Woolley Edge today; come down a bit different.

Like I said the other week, I like to try and change things around a bit, and, yeah, it's getting towards the end of the day. I'm at Wooley Edge for the last break before we get a run into East Midlands. Was going to talk about that awful feeling that you get around MOT time. It must be… Where are we now? I think it's 2008. No, it's earlier than that, 2005. What car was it? It's a green Shogun I think. The green Shogun, so that's 2004, is the last time I had an MOT failure.

Remember That Feeling?

But have you noticed whenever you put your car in for tests, whatever size car, whatever, there's always that fear that's been bred into you from when you were young and driving scrappers.
I remember when we had a Montego and oh, we spent it out £400 on parts from a local scrapyard.
Got an M.O.T. test on it and it cost us about 800 quid. As soon as it had a test done, we took it into Measham, The Car Auctions, and sold it.
The guy who bought it was THE Scrap dealer that I bought all the parts from and he paid less than 200 quid for it, so he got all these parts back to sell again and he made a profit on that deal.


I don't know what it was… I was taught by my dad, for the right reasons, that if I learned to do the jobs myself, it would save me money and I'll be able to keep cars on the road, blah, blah, blah.
He taught me to do

  • the brakes,
  • engines,
  • gearboxes,
  • plugs,
  • points,
  • everything,

NOW … I don't think it was the right thing to do. I've tried to steer my children away from that.

We have a mechanic who comes to the house who knows exactly what he's doing. He's up to speed on all the latest engines,
Richard, absolutely brilliant and worth his weight in gold,I trust him implicitly.
He maintains the cars superbly well.
Whatever's wrong, gets done; no second-guessing.
So, when we put a car in for MOT…
We've done four in the last five weeks my car, Judy's car, Max's car, and Molly's, and not one of them failed they've just all passed  – no advisories.
Oh! I have an advisory on the Smart, which was a bit of corrosion on the offside rear brake, and that's it.
And Rich will do that next time he services it. You just think of the difference, but it didn't take away the fear. You know?

Penny Wise Pound Foolish

I think it comes back to Penny Rich, Pound Foolish, right?
Which basically is what I see people scrimping and saving over pennies and then throwing pounds away.
We used to put a car in for an MOT when the kids were little, {there was four of them,Tom Sarah Max & Molly}

I'd spend three days on the drive in the pouring rain fixing brakes, doing all the usual crap, and then put it in for an MOT and then get a the massive bill from the garage to put things right.

Every time it went in for a test, you're £400 down. There's no sense in it.
It's all comes back to this business mentality of outsourcing: paying a professional to do what you don't enjoy or you're not good at.

Focus On What YOU Do Best

I see people in the online space teaching themselves how to edit a video, how to build a website, how to do God knows what jobs and the reason they got into an online business environment was to generate customers for business, which they love.
Suddenly, they get sucked into all this other crap that they just do not enjoy.
The Internet if nothing else, is a great way of connecting with people that are experts at what they do. If you're into video editing, if you're into vlogging, blogging, website building, product promotion, whatever it is Don't try and do everything yourself and overlook the opportunities that are there.

Employing A V.A. Is A Really Good Thing To Do,

People don't like employing a VA. People think, “Oh, I'm taking advantage.”

You're really not. If you bring in a virtual assistant from, say, the Philippines and you pay them 20, 30, $40 a day, you're making them very wealthy people in reality.
It's something that… I mean, the prices may have gone up.
The last time I had a VA from the Philippines, I think we paid her £30 a day and she loved us for it.
I must admit it was nerve-wracking giving her control of the Facebook group and the associated website for a product that we launched on Amazon,
It freed me in terms of content creation.
I bought a load of PLR: {private label righted content.}
All she had to do was modify it and put the right keywords in, blah, blah, blah, blah, blah, which she was more than capable of.
More than capable of.  She was more than capable of and it made the business fun again.
It brought it back to a point where,
“Oh yeah, I remember why we're doing this,” and it was a really smart way of working.

Are You Having Fun Yet?

So, if you're getting to a point where you're getting snowed under with all the admin, I seriously recommend that you look at outsourcing and building teams.
They can be remote teams.
They don't have to be there sitting in your office, sitting in your workspace.
They can work remotely, be it in the Eastern European countries or the Philippines, the Far East, Singapore. It doesn't matter.
If they're good at what they do, they're worth their weight in gold and it leaves you free for the creatives that you really enjoy. All right?

So, that's it really,

Tip #1, Get Good.

Tip#2, Don't Save Pennies and Not Look After The Pounds.

Don't be penny-wise, pound foolish.
If you can save time and outsource work and get it done superbly, you're in a far better position. Okay?

There you go, Number One Tip. Really important. So, look out for any more. I'll speak to you next time on the way back down from Aberdeen, or maybe when I'm going back up. We'll see. You take care.
Speak to you soon. Bye-bye.

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