Double Your Profit Day #29 Are You Wasting Money on Tech You Don’t Need?

Welcome back, welcome back to Double Your Profit. Today's kind of a funny one. This is a topic that I'm currently holding near and dear because we are actively dealing with it, and it is don't overinvest in technology. Kind of the opposite of what everyone's saying in the industry right now, but I think it is worth, uh, noting. And there's 2 different ways that we can take this. So one is don't overinvest, and the other is don't be the first Early adopters of technology may be able to get an early advantage, but they also could just be blowing money. Something that we've seen specifically in the trades is, hey, the trades are kind of a gold rush right now, and because of that, people are building for the trades. I mean, there's a new app every freaking hour of something that's going to grow our business and drive our profits, but you can't use everything, and eventually you just have to build a good business. And Often, like, continue driving new initiatives and software into the business does the exact opposite. Some of the best operators I know are using spreadsheets. That might not be simple, it might not be scalable, but SaaS fees can really add up. And if you're not implementing it, not just from like a cost, but also the distraction of the implementation, technology will continue to adapt and evolve, especially as AI becomes a bigger and bigger part of our everyday lives. There will be a new AI feature or tool every day. But if you're the early adopter or if you overinvest without the capacity to implement, all you're doing is reducing profit. I think my final and maybe most important thought here is more tools don't solve bad process. If you have a clunky process, then some new fancy tool probably is not going to solve that for you. So you don't need that tool in order to scale. Might help, but it also might just hold you back. Make sure you like and sub if you like this video and drop in the comments a piece of technology that you bought but didn't use. My list is pretty long.