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Buy It, Rent It, Learn It, Hire for It - Wedding Business Solutions Podcast with Alan Berg CSPBuy It, Rent It, Learn It or Hire for It

Like many of my topics, this came from a conversation I was having with one of my clients, a wedding/event pro, about how he should go about doing Facebook advertising. One option was to hire someone, but the price tag was scaring him. Another was to take courses and learn to do it himself. Yet another was to look for every free or cheap way to figure it out. In this episode I’ll take you through the thought process that I shared with him, so you too can see that it’s not just the cost that matters, it’s also the time it will take you to get the results you want. Just looking at the price can cloud your decision and delay you reaching the ROI you desire.

Listen to this new 9-minute episode and hear how you can make better decisions that lead to clearer decisions and more profits.

If you have any questions about anything in this, or any of my podcasts, or have a suggestion for a topic or guest, please reach out directly to me at [email protected] or visit my website www.AlanBerg.com

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Below is a full transcript. If you have any questions about anything in this, or any of my podcasts, or have a suggestion for a topic or guest, please reach out directly to me at [email protected] or contact me via textuse the short form on this page, or call 732.422.6362

Please be sure to subscribe to this podcast and leave a review (thanks, it really does make a difference). If you want to get notifications of new episodes and upcoming workshops and webinars, you can sign up at www.ConnectWithAlanBerg.com


– Should you buy it, rent it, learn it, or hire for it? Listen to this episode and find out what I’m talking about. Welcome to another episode of the “Wedding Business Solutions Podcast. I was having a conversation the other day with a client and he was looking to have something done for his business or learn a skill for his business. And we looked at the different possibilities of this, and you all come across this same thing, I think we all do. So one of his possibilities was to hire somebody to do this for him. And what he was talking about was social media advertising. And he told me how much it was going to cost him and it was a commitment of three months, and it was a commitment of a significant amount of dollars for him. And I say for him because everybody’s budget is different.

Another possibility was he could take courses to learn how to do this himself. And another possibility is he could try to figure it out, right, go and look at all the free ways to try to figure something out or read a book or watch some videos or whatever. And we talked about the different possibilities. And I said, well, a couple of things, first of all, if you’re looking to do advertising on a platform that you haven’t done before, how much business are you trying to get? Because if you’re going to try to get five more sales and it’s going to cost you two or three of those in the dollars of sales to pay for that, that doesn’t make sense. It doesn’t make sense to give up three sales to try to get five. On the other hand, he was trying to get 30 sales. If you’re trying to get 30 sales or 40 sales or 50 sales, well then, giving up two or three is not unusual. I mean, 3 to get 30 is 10%. That’s not a bad investment to try to get that kind of a return.

But the thing that I brought up to him was time. How fast do you want the result? If you hire somebody, you’re going to get the result faster. That’s why you’re hiring a professional. After all, that’s why people hire you, right? They could figure out how to do it themselves, but they don’t want to, they hire a professional. So I said if you want to get the results faster, you’re paying someone and the business that you theoretically can bring in, because again, we never know with anything that we do, but we have to try it and invest to find out, right? Failure just means you didn’t try, right? That’s the failure is you didn’t try. The other failure is you tried, you didn’t get the results you want. But if you never tried you’ve already failed. I would rather give it a shot because I could succeed, and if it doesn’t give me the results I want, well, is that a failure? Maybe, sometimes it’s a success, just not the one you’re looking for, and sometimes it’s just a different result. Not a failure, just a different result.

So I said if you want to get the result faster, then you should probably make the investment. Or make the investment in learning how to do it. You know the old saying, “If you give a man a fish, you feed him for a day and if you teach him to fish, you feed him for life.” I said if you learn how to do this skill yourself, it’ll take you a little bit more time, but then that skill is a skill that carries you forward. and you can continue to use that. Or you could try to figure it out and stumble along the way, and it’s just going to take you longer to get the kind of results that you could get. So the investment, right, the investment of his time to learn how to do it still might not return on the results that he would if he learned from a professional or had a professional do it. So when you’re looking at any particular investment, you usually have different options. You could, let’s say, buy something or rent something.

I run into this all the time with myself. I’m a DIY guy. I do a lot of fix it things around the house and I love woodworking and stuff. And I was working with a rental company and they have tools as well as tents and party stuff. And I said your rental for tools, you have four different customers. You have professionals that come in, rent tools, they know how to use them and that’s it, they know what they need and they go. You have professionals that come in and rent a tool they’ve never used before and they might need some help with learning how to use it, so don’t assume that if they’re renting it and they’re a professional that they know how to use that tool. They just might not need it that often, that’s why they don’t own it. Then you have DIY people and people like me that know what they’re doing and I might know how to use a tool, but I just don’t have it. And I decide whether to buy or rent something based upon how often I’ll need it.

Like if I was getting a floor sander, I wouldn’t need that very often, so I would rent it and I would always rent a hopefully well-maintained tool from someone and then give it back and let them rent it to somebody else, because it’s just going to sit in my garage. But saws and drills and all the other tools I have in my garage, I use them often enough that it pays to buy them and buy good ones. Their fourth customer is a DIY customer that doesn’t know what they’re doing. Probably watching some DIY show on HGTV and like, hey, I could do that. And that’s what you see, all those disaster shows there. So understand those different customers. A customer like me, buy versus rent, when I go to a store, I look and see how often I use this? How important is this decision to me, buy versus rent? Same thing for you, on another podcast I have, it was “Sell It Before You Buy It.” And it’s also in one of my books, “Wit, Wisdom and the Business of Weddings.” If you are thinking about adding something to your business, maybe sell it to customers whose weddings are six months, nine months, a year away and then if they’re buying it, buy that thing before you need it, but don’t buy it and then have it sitting on the shelf and then find out that your customers don’t want it.

So buy it, rent it, learn it, hire someone. Think about your time, think about the investment, think about how long you’re going to need that, think about how soon you want the results on something, but please don’t just look at the dollars. His initial reaction to me, my customer, was wow, this is a lot of money. Well, compared to what? Compared to the results that you might get from it? No, compared to learning how to do it yourself for free with videos and maybe buy a book, something like that? Yeah, it’s a lot more money, but expensive means you don’t get the return. Of course, you have to be willing to make the investment, but expensive just means that you don’t get the return.

So when you’re presented with an opportunity, don’t say gee, that’s expensive, say, yeah, that’s a lot of money, but what’s the potential return? Does it get me to the results that I want faster? And if that’s the case, then that investment, if you can, let’s say, pay for that investment, this is what I said to him, if you can make enough sales in those three months to pay for that investment with that professional and they’ve then shown you how to do this so that you can continue to do it, it doesn’t sound like a bad investment to me, again, if you’re willing to put that money on the line. So I hope this gave you something to think about. If you have any particular questions on this, please send them to me directly. I’d love to hear from you and love to hear more topics, but this one, as most of my topics, comes from discussions I have with folks just like you. So please keep asking the questions and I keep coming up with topics.

I’m Alan Berg. Thanks for listening. If you have any questions about this or if you’d like to suggest other topics for “The Wedding Business Solutions Podcast” please let me know. My email is [email protected]. Look forward to seeing you on the next episode. Thanks.

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