The Part Outsourcing Plays in Running a Business
Outsourcing is an important part of running a business efficiently, and it can grow and become more profitable over time. After all, you don’t expect a CEO to do everything on their own; instead they have assistants and experts to do a lot of work for them. This is what makes them look amazing — their ability to pick and choose amazing experts to put on their team and motivate them to get work done.
1. Do More in Less Time — If it takes you two hours a day to go through emails that someone else could deal with, and this is especially true of customer service email, then you should outsource it to someone else. Those two hours might cost you 20 to 30 dollars an hour to pay someone else to do, 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.
2. Duplicate Yourself — 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 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 your business.
3. End Repetitive Tasks — Any daily repetitive tasks that you do you can totally eliminate 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.
4. Build an Empire 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.
5. Expand Your Capabilities — 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. You can find an expert to take care of these aspects so that you can get more clients and get more work.
6. Focus on Your Efficiencies — When you outsource work that is not your expertise, you can 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.
7. Grow Your Business — As you find 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.
8. Pay As You Go — 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 will learn to outsource to experts. 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.
This article originally appeared here: https://www.socialana.com/the-part-outsourcing-plays-in-running-a-business/