⌄ Scroll down to continue ⌄

Entrepreneurs and Business Owners Double Their Time and Money by Outsourcing

⌄ Scroll down to continue ⌄
Entrepreneurs and Business Owners Double Their Time and Money by Outsourcing

There is a limit to what an individual can achieve alone. That limit is even greater in business.

Entrepreneurship is about pursuing your passion and unleashing your creativity for the purposes of creating and adding value and doing something that is of high importance to you and those you seek to serve. The entrepreneur(s) that will not be able to live out their days doing what they are most passionate about are the ones who don’t invest in themselves and/or their business because of a fear of failure, losing money, etc. So what is this investment I allude to? It’s called outsourcing!

What is Outsourcing?

Outsourcing is the process of delegating a company’s business tasks and/or processes to third parties or outside agencies, leveraging several benefits such as low costs, high quality, and creativity. Companies undertake outsourcing for a variety of reasons (that we’ll discuss later) but what remains the same is the impact outsourcing has on their growth, productivity and bottom lines.

⌄ Scroll down to continue reading article ⌄

⌄ Scroll down to continue reading article ⌄

Another way to answer the question, “What is outsourcing” is this…

Outsourcing is the decision you make when you are trying to run a successful business and you ask yourself, “Do I really need to be responsible for my businesses marketing, sales, HR, technology and everything else I need to be competitive and professional?” Or the question may simply be, “Can I handle all of my day-to-day tasks and still be able to commit to the activities that allow me to do the things I am most passionate about in my business?” These everyday tasks may include business development, scheduling, administrative functions, data presentations, managing email, and so on. If you are trying to handle all of those things alone or with an inadequate team, I have to tell you, you are probably spending your days just wasting time.

Give your Business an Opportunity to Grow

Many entrepreneurs and (medium/small) business owners must learn to get out of their own way. It’s very simple; you either embrace outsourcing and give your business an opportunity to grow or let your competitors beat you. The entrepreneur or business owner that is on the path to success is the one that is not afraid to ask for or seek the help of others. Successful business owners maximize their strengths and talents and hire people who are better at fulfilling the objectives they are weakest in. By not seeking these professionals out or providing them with an opportunity to contribute to your business, you are and will always be missing out on competitive advantage opportunities, precious business development time and several significant other product or service opportunities.

⌄ Scroll down to continue reading article ⌄

⌄ Scroll down to continue reading article ⌄

So now that you have read about some of the wonderful benefits of outsourcing, you may be saying, “Well what about the costs?” Nice try. Outsourcing is now a reality for almost any sized budget. There are literally thousands of qualified workers available and ready to serve you and your business needs. Think about it. Smart business owners save themselves the burden of paying overhead costs associated with payroll taxes and expenses, paid time off, and worker’s compensation. Hiring a staff and providing them with office space, equipment, training, and health insurance is much harder to get from under, guarantee the relationship, and/or confidently invest in. This is why the outsourcing decision is such a no-brainer.

pablo-1

    Why is Outsourcing a Good Choice for Your Business?

    The most obvious answer to this question is that outsourcing your businesses day to day back-office tasks will give you more time to focus on generating income. Just think about how much money you are losing by doing everything yourself. Add up all the hours you spend each day performing tasks that can easily be delegated and aren’t making you money and/or serving your clients. Now ask yourself, “Why”? I’ll wait… There’s really no good answer to this question. It’s simply not acceptable not to make money and offer value in business.

    ⌄ Scroll down to continue reading article ⌄
    ⌄ Scroll down to continue reading article ⌄

    6 Additional Benefits of Outsourcing That Can’t Be Ignored:

    1. Outsourcing companies deliver services faster.
    2. Outsourcing increases the knowledge base of your company.
    3. Outsourced work usually ends up in the hands of a highly educated and specialized professional or agency consultant.
    4. Outsourcing provides access to resources not available internally.
    5. Outsourcing lowers overall operating expenses.
    6. Outsourcing company hours. Some outsourcing companies work during your office hours, many of them work while your office is closed, and some have the ability to do both. So in fact, if you can find a “hybrid” outsourcing company that provides 24-hour service at a low rate (like this one: Opportunities2Serve.com), you will experience the kind of immediate results and benefits you’ve always dreamed of.

    3 Signs That You May Need to Outsource:

    1. You can’t recall the last time you made an update to your website.
    2. You’d rather not spend time updating and keeping up with your social media channels.
    3. You aren’t getting results from your advertising.

    Finding the Right Contractors

    Find capable, reliable outsource providers! Start with your own network. Ask questions like, “Who’s responsible for taking care of your businesses lead generation, database entries, payroll, web development, or web research?” Usually, people are more than happy to offer up their source. In the absence of a good recommendation like Germinate Outsourcing, there are online services such as Upwork, Thumbtack, and Fiverr that serve as virtual marketplaces for you to consider. The key to identifying the right contractor is to know exactly what you’re looking for and find out exactly how your outsourcing professional can help you.

    When you decide to hire an outsourcing professional, don’t be afraid to offer, communicate and/or outline task-based agreements or expectations. Never assume that your outsourcing professional is thinking what you’re thinking, knows or completely understands your process (until they show you they do), or knows what your definition of done is.

    Even when expectations are clearly stated, there’s a chance that there will still be a bit of a learning curve to ensure that all tasks are done just the way you are expecting them to be. After you grow comfortable with your outsourcing professional, you may then consider transitioning into a more permanent relationship or agreement once you’re confident in their ability to consistently deliver.

    ⌄ Scroll down to continue reading article ⌄
    ⌄ Scroll down to continue reading article ⌄

    It’s Your Move!

    Featured photo credit: channellife.com.au via channellife.com.au

    More by this author

    Tyrone Robinson

    Life, Career, Executive Coach & Business Consultant

    3 Tips to Carry You Through the Week After The Election
    3 Tips to Carry You Through the Week After The Election
    Entrepreneurs and Business Owners Double Their Time and Money by Outsourcing
    Entrepreneurs and Business Owners Double Their Time and Money by Outsourcing
    5 Ways to Practice Stress Free Living
    5 Ways to Practice Stress Free Living

    Trending in Entrepreneur

    1 20 Inspiring Vision Statement Examples (2022 Updated) 2 10 Simple Yet Powerful Business Goals to Set This Year 3 How to Quit Your Job to Start a Business: 13 Untold Tips 4 Becoming a Life Coach: How I Turned Life Experience into Coaching 5 5 Strategies to Grow Your Business Continuously

    Read Next

    Advertising
    Advertising

    Explore the Full Life Framework

    Advertising
    Advertising