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Entrepreneurs and Business Owners Double Their Time and Money by Outsourcing

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.

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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.

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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.

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    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.

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    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.

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    It’s Your Move!

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

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    Tyrone Robinson

    Life, Career, Executive Coach & Business Consultant

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    Last Updated on November 19, 2018

    How to Find a Suitable Professional Mentor

    How to Find a Suitable Professional Mentor

    I went through a personal experience that acted as a catalyst for an epiphany. When I got fired from a job, I learned something important about myself and where I was headed with my freelance career. I realized that the most important aspect of that one rather small job was the influence of the company owner. I realized that I wasn’t hurt that the company and I weren’t a perfect match; I was devastated by the stark fact that I needed a mentor and I had almost found one but lost her.

    Suddenly, I felt like J.D., the main character in “Scrubs,” chasing Dr. Cox and trying to rip insight and wisdom from someone I respect. The realization that a recognized thought-leader and experienced entrepreneur severed ties with me felt crushing. But, I picked myself back up and thought about five ways to acquire a mentor without having the awkwardness of outright asking.

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    1. Remember, a professional mentorship must be mutual.

    A professional mentor must agree to engage in a mutual relationship because, as the comedy T.V. series showed us, one simply cannot force someone to tutor us. We have to prove that we are worth the time investment through persistence and dedication to the craft.

    2. You have to have common interests with your mentor.

    Even if a professional mentor appears at your job or school, realize that unless you and this person have common interests, you won’t find the relationship successful. I’ve been in situations where someone I respected had vastly different ideas about what was important in life or what one should spend his or her free time doing. If these things don’t line up, you may find the relationship won’t be as fruitful, even when the mentor knows a great deal about one industry.

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    3. Thought-leaders will respect your passion.

    One of the ways you can prove yourself worthy to a professional mentor is through your passion and your dedication. No one wants to spend time grooming and teaching another who will not take advice or put the effort in to improve. When following thought-leaders on Twitter and trying to engage with higher-ups in a work setting, realize that your actions most often speak louder than your words.

    4. Before worrying if he respects you, ask if you respect him.

    On the other side of the coin, you should seriously reflect on those common interests and make sure you respect your professional mentor. Just because someone holds a title, degree or office does not mean that person is trustworthy or honest. Don’t be swayed by appearances and take the time to find a suitable professional mentor.

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    5. Failure is often the best way to learn

    I honestly have made more mistakes than I can count. I know I’ve learned a great deal from poorly organized businesses and my own poor choices. The most important quality I’ve developed is an ability to swallow my pride and learn from my mistakes. If life knocks me down nine times, I get back up 10 times. One of the songs Megadeth wrote, “Of Mice and Men,” resonates in my mind when I pull myself up by my bootstraps and try again for a goal I’ve set: “So live your life and live it well. There’s not much left of me to tell. I just got back up each time I fell.” Hopefully, this brief post can act as a professional mentor to you in your quest to find not only a brave leader but also a trusted adviser.

    Featured photo credit: morguefile via mrg.bz

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