Podcast Title: Savvy or Surrender Podcast – Episode 9Host: Steven YoungEpisode Title: When to DIY and When to HireSummary:In this episode, Steven Young explores the critical decision every business owner faces: when to handle tasks yourself and when to bring in a professional. Drawing from personal stories and client experiences, Steven breaks down the cost-benefit analysis of DIY versus hiring, especially in the context of bookkeeping, taxes, and business growth.Timestamps & Key Topics:[0:00] IntroductionSteven welcomes listeners and introduces the topic: DIY vs. hiring a professional.[0:48] The “Chief Everything Officer” TrapWhy business owners try to do it all and when that becomes a problem.[1:35] Personal DIY Story: Landscaping Gone WrongSteven’s experience with a home project, the hidden costs, and the moment he realized he needed an expert.[4:02] The True Cost of Cheap HelpHow hiring cheap or doing it yourself can lead to expensive mistakes.[5:23] When DIY Makes SenseCriteria for when it’s okay to DIY: low revenue, no employees, simple finances.[6:27] The Value of Understanding Your SystemsWhy it’s good to know your numbers and systems, even if you plan to outsource later.[7:45] Red Flags: When It’s Time to HireSigns you need a pro: revenue over $100k, employees, IRS letters, emotional money decisions.[9:02] The Peace of Mind from Hiring a ProHow professionals can relieve stress and help you sleep better at night.[10:15] The Value of Your TimeReal client stories: doctors and business owners who lost money by DIYing their taxes and books.[11:07] Staying Involved in Your FinancesEven when you hire, you should know your numbers and review reports.[11:56] Taking the Next StepHow to move out of DIY mode and get a business review.[12:19] Client Story: From DIY to Professional HelpA client’s journey from doing his own books to hiring Steven, and the financial impact.[14:02] Planning for Growth: The Expansion AccountUsing Profit First to safely scale your business and prepare for hiring.[16:41] The Profit First System ExplainedHow to set up accounts, manage cash flow, and use the Profit First formula.[21:31] Additional Accounts for GrowthCreating accounts for debt, expansion, or new hires.[22:51] Weekly Allocations and AutomationTips for making Profit First work for you.[23:49] DIY Taxes and When to Get HelpThe risks of using TurboTax and missing deductions.[24:46] Final Thoughts & ResourcesWhen to DIY, when to hire, and where to get more help.Resources Mentioned:Profit First by Mike MichalowiczMeetWithSavvy.com – Book a discovery callSavvy CEO Alliance – Free community for business ownersConnect with Steven Young:Website: Savvy Tax Strategies & BookkeepingCall to Action:If you’re feeling stuck in DIY mode or want to learn more about optimizing your business finances, book a discovery call or join the Savvy CEO Alliance community.Thank you for listening! Don’t forget to subscribe and leave a review.@savvytaxes savvyceoalliance.com savvyceoshop.com meetwithsavvy.com

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