Shark Tank Wisdom

Shark Tank is the one reality show I really like to watch. As hopeful entrepreneurs make their presentations to potential investors, the creativity of ordinary people is inspiring. Many of them have some great ideas. Even the ones whose ideas are rejected have the advantage of having thousands of people who have watched the show become aware of their idea or product. That could only be a good thing.

One of my favorite investors on Shark Tank is Lori Greiner and now I know why. As the  “Queen of QVC”, she can afford to buy anything she wants, but she is exceedingly frugal! She said, “In the beginning I was really, really lean,” she says. “For the longest time I did it all. I played every hat. I was in the factory, doing the graphic design, the photography, the selling — literally everything. I saved money doing what I could myself. It was hard but I learned. I learned that nobody’s better than you to get your business off the ground. The experience you get is priceless.”

You and I may not have a business or patent inventions or be able to invest in others’ business ideas, but following Lori’s pattern of frugalness can save you money every day. When you do things yourself, you learn how to do it better and you save the money you would have spent to have someone else do it. It may be hard, but if you need to stretch your money, it is worth it.

Here are just a few things you could pay someone else to do, but you can stretch your money when you dolossy-page1-800px-No_original_caption._(Woman_cooking_in_a_kitchen.)_-_NARA_-_513406.tif it yourself.

  • Do your own yard work. Hiring someone to do your yard work often requires you to allow them to do it on a weekly schedule. The large companies contract to do yard work and may do it more often than needed. If you really can’t do it yourself, hiring a reliable young person may be the way to go.
  • Do your own ironing. Recently I heard someone say, “I could have bought a new pair of pants this month for the cost of having mine cleaned and pressed every week.” The $3 or more that it costs for sending a pair of pants to the cleaners adds up if you do it often.
  • Create your own website. There are now so many resources available for you to develop your own website free that I wonder if web design companies are going to be able to stay in business much longer.
  • Wash your car yourself. You will save the trip to the car wash and time wasted sitting in their waiting room.657px-Scene_at_car_wash_in_Summit_NJ
  • Cook your own meals. It is not only cheaper to cook than to purchase meals at even the fast food restaurants, it is much healthier.
  • Color and cut your own hair. This is where some of my friends tell me I have gone to meddling, but you can buy many packages of hair color for the cost of having your hair colored just once. If you learn to cut your own hair, that savings multiplies.
  • Do your own repairs. My husband is a handyman and has saved us many thousands of dollars over the years because he can do repairs himself – on the house, on vehicles, on tools, etc.

You can think of many more because Lori Greiner is right. You can definitely save money doing what you can do yourself.

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