How to Figure Out When to Hire An Expert, or To Just Do It Yourself It's possible to save on experts like lawyers, accountants and designers while not putting your company at risk.

Q: I spend a lot on legal and accounting fees. Is there a way to cut costs without increasing risk? — Matt, Birmingham, AL

For BIZ Experiencess, the question of when to outsource work to experts — and when to do it yourself to save money — can feel like a perpetual Catch-22.

On the one hand, you'll never grow your business if you're stuck doing minor (if important) tasks. Plus, an "I'll figure it out myself!" attitude can create very real risk. But on the other hand, outsourcing everything feels like a deal with the devil. The cash you burn paying lawyers, accountants, and other specialists can amount to the equivalent of hiring one or several employees — or months of a marketing budget — both of which are more likely to help your business grow than a set of well-balanced books or an airtight legal strategy.

The solution, like so many things, is not black and white.

Related: How to Let Go of Control and Hire an Expert

Here's what I suggest: The best use of your time is to spend a little more time in the weeds, deconstructing the costs of each service you spend your money on — so that ultimately, you can unlock savings. Most services work on a "touch point" model. Think of it like an assembly line. You don't need to remove the entire assembly line or do every step on your own. Instead, you should get a good sense of every step in the line, where the cost burdens are the greatest, and which steps you can consolidate or handle on your own.

For example, here's what happens when you need legal help on a contract.

Step 1: Email your lawyer.

Step 2: Have your first call.

Step 3: Follow-up call or email (both billable hours).

Step 4: Lawyer drafts the paperwork needed (billable hours, plus extra costs).

Step 5: Call to review the document.

Step 6: You send notes. They revise.

Step 7: Your client wants revisions. More calls, emails, and billable hours follow.

Step 8: You finalize the contract.

Sometimes there are even more steps. It's all very costly.

Related: 8 Legal Requirements When You Start A Business

The good news is that you can probably skip steps one through six. There are plenty of templates of legal contracts online that you can borrow and amend. You really only need a lawyer to review your final version (in case a client signs), and — potentially — any final revisions. Skipping those earlier steps will save you thousands of dollars. The same goes for dealing with lawyers from other businesses. Don't let your lawyer jump on every call with their lawyer. Handle the calls yourself until it's time to finalize an agreement, and then bring in the pros.

You can replicate this with almost any service, whether it's an accountant or CPA (QuickBooks makes life easier for many BIZ Experiencess) or building a website (you can remove many development or design costs by using no-code apps like Shopify, logo builders like Hatchful, and design through Canva).

Your job isn't to do everything for your business; that's just stubbornness and ego. But it is smart to break down the steps of each process that costs you money, so you can figure out where you're hemorrhaging unnecessarily, and bring in the experts when their expertise will best serve you.

Related: 4 Communication Strategies to Grow Your Business Without Spending Any Money