A big objection to pursuing a new strategy is initial cost of time and money. Many people look at the hill they need to climb and decide it’s too much trouble to start. If you can motivate to start however, the hill always looks much smaller once you’re on it.
Which hills are worth it?
Not all hills are worth climbing and an intelligent person knows when to begin the trek and when to pay someone to do it for them. That’s what this article is about: one-time costs are generally worth paying someone else, recurring costs, if possible, should be eliminated.
First there’s one-time costs:
If you are a dentist with no desire to become an architect you wouldn’t go to architecture school in order to design your new practice, you would hire an architect to design it, hire a construction team to build it and be done with it. If architecture was something you were really interested in then you would probably put in the effort to design it yourself.
Either way, this is a one-time cost without any recurring costs. You would pay the architect (or do it yourself) and be done with it forever. You don’t have to pay the architect a monthly fee to occupy the building he designed.
Then there’s recurring costs:
Your internet bill is a recurring cost. You have to pay a monthly fee to keep your internet running and there’s no two-ways about it. You can’t do it yourself in this case because there would be no feasible way for you to create the infrastructure necessary to access the internet. You pay them every month and you get service every month.
There are also recurring costs which don’t have to exist. Your website is an example. You might be paying a large monthly fee for something that actually should be a one-time cost. The person who designed your site only designed it once. There is a monthly hosting fee for anyone who has a website, but it is less than $5 a month. You could significantly reduce a recurring cost if you know what you’re doing.