Outsourcing at least in my industry has been hijacked in recent years with everyone assuming that businesses that outsource are sending web development work overseas to cheap labour markets. However more outsourcing is done locally than abroad just look at who does your accounts, bookkeeping and compliance, chances are some or all of this is outsourced.
Outsourcing is way more than this, in fact outsourcing is an important part of running any business. You don’t expect a large corporation CEO to do everything on their own; instead they have assistants and experts to do a lot of the work for them. This is what makes them look amazing, their ability to pick and choose quality experts to put on their team and motivate them to do even better work.
Outsourcing allows you to:
Do More in Less Time
If it takes you two hours a day to go through all of your emails then perhaps someone else could deal with this, and this is especially true of customer service type emails, then you should outsource this task to someone else. Those two hours might cost you 20 to 30 dollars an hour to pay someone else to do this task, but it’s costing you potentially hundreds of dollars an hour in new ideas, new products, and whatever it is that you do that you’re an expert in so it’s also cost effective.
Many times you can also outsource work that you do yourself, and if you find the right people you can duplicate yourself and thus serve more clients. For instance, this is true with virtual assistants. Say your expertise lies in setting up eCommerce shopping cart solutions for clients. As there are only 24 hours in a day, you can hire others who are also good at setting up shopping carts to increase the amount of shopping carts your company can set up.
End Repetitive Tasks
Any daily repetitive tasks that you do you can be totally eliminated by outsourcing to someone else. This again frees up a lot of time for you to be able to focus on other things that will move your business forward at a quicker pace.
Build a Bigger Business with an Exit Strategy
By outsourcing to others, you can actually build up a business that depends less on you. This can feel scary to some people, but the truth is, this is a good goal to have in mind because your family will still be cared for if your business can ultimately run without you, or if it is sellable. In fact, some definitions of a successful business are a business that can run while the business owner is absent for ninety percent of the time.
Expand Your Expertise
Is there a skill that would add to your business that you do not have? For instance, maybe you’re excellent at technical skills and coding but you’re not that great at marketing or writing sales copy. You can find an expert to take care of these aspects so that you can get more clients and thus get more work.
Focus on Your Efficiencies
When you outsource work that is not your expertise, you are able focus better on what you do best. If you’re not sure what your expertise area is yet, you will need to discover that so that you can outsource almost everything else and focus on that one thing. For example, public speaking; you can’t outsource that, but you can outsource everything surrounding public speaking so that you can focus on being the best public speaker possible.
Grow Your Business
As you find more ways to outsource, you can grow your business beyond what it can be with just you working in it. A corporation often has hundreds of employees, but with outsourcing you can look like a big corporation while simply being a sole proprietorship who outsources to experts in any area ripe for growth.
Pay As You Go Outsourcing
The great thing about outsourcing is that the cost is flexible. It only goes up when your income goes up and you get more jobs. Therefore, each time you outsource, you will actually increase your income rather than reduce it.
So, if you want to grow and improve your business, you need to learn to outsource to experts and these experts can be local. It’ll make your business better, it’ll help you earn more money, and it’ll solidify your business to continue to grow without you making your business more and more successful.