I recently opened my own solo law practice. After a lot of reading a lot of advice (both in books and on this forum), I learned the dumbest thing to do was to have high overhead early on--high rent, buy a bunch of new furniture, buy the greatest technology ever, sign up for useless subscriptions, etc. So my business is incredibly lean and already profitable at this point:
Rent: $400/month (includes office space, receptionist, two conference rooms, copier/scanner/fax)
Malpractice Insurance: $97/month
Website: $18/month
Google Suites: $5/month
Marketing (Meeting for Coffee/Drinks): $50/month
CLE/Dues: $100/month (average)
And that's it.
But, that lean budget means I'm doing everything else on my own: building my own website, designing my own business cards, tracking my own invoices, doing most of my own accounting (expense tracking), making my own copies/letters, etc.
All this costs time. Right now, I have the time to do all this because I just started my practice and don't have too many clients, but eventually this may need to be outsourced.
So my question is this: how do you properly apply mustachianism to a small business? I can obtain subscriptions that will outsource most of these non-legal tasks, and while that would increase fixed expenses, it would hopefully be worth it given increased productivity.
So how do you make that calculation? When is the right time and place to start outsourcing?