The "Do-it-yourself" (DIY) revolution - Miracle or mayhem?. . . Well, it depends

Hint: How big are those icebergs?

Evolving since the advent of Home Depot, the internet, and YouTube, a DIY (do-it-yourself) revolution has been taking place. We now realize that there’s a world of information out there when it comes to “how-to’s”. When you’re not an expert on a topic, you simply access the web and “voila”, you’re chock full of information, instructions, inside DIY tips, and newfound capabilities on everything from building a deck to overhauling an engine. The world is at our fingertips.

For someone like myself, access to resources such as these has provided me with the required shot of courage to take on projects such as minor car part replacement, fixing of faucets, and even computer/IT problems. The result: the concept of DIY has expanded our self-sufficiency for resolving minor “fix-it” issues, and has even allowed us to learn new skill sets. Looking at it from that vantage point, DIY has indeed been a miracle.

But there’s also been a negative side to this DIY-ism. Though worldwide access to information has become virtually unlimited, it doesn’t necessarily mean that the information we choose to use for our needs is accurate, honest, unbiased, appropriate for us, or even relevant. Furthermore, ready access to information gives us the confidence that we can find an answer. The problem: it may not be the right answer, or even the right question. The result: sometimes we still don’t know what we don’t know, and this is where DIY can create mayhem.

Just ask any professional in a complex field of study (such as medicine or law) and you’ll hear painful stories about trying to work with an overzealous DIY-er as client or patient. The DIY-er, like one viewing an iceberg from the surface only, may think he/she sees the entire picture, but not really understand the challenge, magnitude, exposure, nuances/intricacies, or complexity of the situation.

As an experienced financial professional (corporate and personal), I see this same danger in the innocent DIY-er who underestimates the skills required to manage complex financial matters. Just like in holistic medicine, financial management requires a holistic approach, as everything is interrelated (action/reaction), interconnected, and impacted by the various independent and dependent variables. Additionally, the cost of poor or shortsighted financial decisions can be the stealthy and continual oozing of money out of the enterprise, much like a hidden underground water leak.

So what’s the answer: Maybe we should take a page from the famous management expert, Peter Drucker, when he suggested that managers, “Do what you do best, and outsource the rest.” Or we can possibly follow the catchy advice from Clint Eastwood as "Dirty Harry" in his Magnum Force movie when he raspily warns that, “A man’s got to know his limitations.”

Or finally, maybe it's just a matter of us knowing that when the stakes are high, the topic is complex, and we’re outside of our core competency, we remember the childhood warning, "kids, don't try this at home", and consider enlisting the help of a trusted and experienced professional resource.

And for everything else, let’s go ahead and DIY. . .

And on that note, I was able to successfully play “Mr. Goodwrench” recently using YouTube to help me to replace the headlamp on my vehicle. Woo hoo!