Updated insider information by Chellie Campbell, author of “The Wealthy Spirit: Daily Affirmations for Financial Stress Reduction”
“Did you ever hear of a kid playing accountant—even if he wanted to be one?”—Jackie Mason
The distinguished doctor I met at a party asked me what I did for a living. “I own a bookkeeping service,” I replied. He immediately started bragging how he saved $600 a month by firing his accountant and doing the bookkeeping himself. “Really?” I asked. “How long does it take you to do it?”
“It takes me about six hours,” he replied.
I asked, “And how many hours do you work as a doctor?”
He replied, “Oh, I work a full office schedule—about 35 hours a week.”
“I would imagine that you make a lot of money as a doctor,” I said.
“Oh, yes!” he exclaimed proudly.
“When you’re working at being a doctor, do you make as much as $300 per hour seeing patients?”
“Certainly,” he said. “Sometimes more, depending on the patients and their needs.”
“Then it seems to me,” I suggested, “if you spent the six hours you’re spending on accounting being a doctor instead, you would make $1,800. Then you’d pay the accountant $600 and have a profit of $1,200. So, firing your accountant didn’t really save you any money—it cost you money.”
He was speechless for a moment, and I could see his mind working, processing this information. “But, I enjoy it,” he said finally.
“Yes, I do, too!” I agreed. “It’s my business.”
I found out later he rehired his accountant.
If you can think of something more fun, productive, or profitable to do than the onerous task you hate, then do it and delegate the other. You don’t have to do tasks just because you can.