In the business realm, larger companies at one point dominated the landscape with outsourcing that was not available to smaller business or startup companies, now it is a must to run a business.
The benefits are almost endless with outsourcing, but it always boils down to saving your time, saving your money, and making more money using your time wisely.
Mostly, companies that are in startup benefit the most, and the biggest benefit is leveraging your time. Time is the biggest asset in any business, not money, the most common things that are outsourced are back-end jobs such as funnel design, customer support, payroll processing, and an in-house phone sales team.
There are few details you should know before you outsource a project or a specific task. What is your goal outsourcing goal and how does your company benefit? What do you want to get done by outsourcing? How much time and money are you saving?
Let’s see what can be done to improve your business efficiency…
I’ve outlined the main area’s that outsourcing falls into, and will explain a bit about the added benefits. Once you have accomplished all of these area’s then I’ll get into making big money by focusing on the right things.
6 Area’s Outsourcing Can Benefit Your Business
Can be one of the biggest reason’s why a startup company can get ahead faster, by saving money. And most big corporations outsource on a large scale, like Nike for example, to cut down on manufacturing costs. It has been researched and on average, a company can save about 60% in operational costs with an outsourced individual.
In marketing customer service is a big asset to improve on, and hiring a couple extra people to handle customer support is smart business. Entrepreneurs have benefited from outsourcing repetitive and redundant tasks, giving them more time and opportunity to grow their business. As well as, being able to follow up with leads on the phone will do wonders for sales.
Increased Productivity And Efficiency
I like when things run smoothly, and being able to take on more tasks or create more campaigns to is big plus. Saving your time can open new doors to other area’s in your market. Automation also helps in this area, and some of the internet tasks with help from experienced people make the operation more productive, and more money.
Every business as an element of risk, but how much is another vital question. For me, I outsourced the entire funnel project when I launched my new online course to an experienced marketing team, costed me 20K and 3 months of development, but in the end I was very happy and it lowered my advertising costs and risk. Some risk is good, and some is way too much so you have to weigh the pro’s and con’s before committing to it.
Leverage Your Time Better
As I said above, time is the most sought after asset in business, second is money. So in business your going to design a “System” and a “Team” so you can leverage your time. In a brick and mortar business, hiring more staff is a quick fix, in Internet Marketing it’s hiring virtual assistants to delegate tasks to.
One of the best outsourcing companies in my opinion is 123 Employee, and I actually had the chance to meet the owner, Daven Michaels, in the Dominican Republic in June this year at a mastermind event.
More Time To Think
The interesting thing about business is it’s always about time and money. So having more time to focus on other things OR have more time to think about your next move in business is another benefit. Sometimes entrepreneurs need to filter out the noise and think how to direct their company it will also have you focus because you’re paying for other people to do the work that you aren’t doing.
Make More Money
This is always my favorite topic, making more money. After all the outsourcing elements are conquered, then you got more time to do what? Focus on higher revenue activities, like shooting a youtube video, working leads on the phone, personal customer attention, crafting another marketing campaign are just some idea’s.
Personal attention is what customers what, and when you engage with them directly, it will add trust, personality and convert them into warm customer. And getting the sale on high ticket items that require more time, is what I make money doing, while my sales funnel works 24/7. 2-3 hours per day getting the sale is what A-lister millionaires do. That is also a mind shift in thinking you have to do everything, but you don’t, it’s millionaire mindset.
More “Time” does 3 things for your business:
- Elevates your credibility and trust with customers
- Make your customer feel like #1
- You get the sale no matter what the cost
Build Your Team
My last point for outsourcing is building a team. This point is mainly for the long haul with your business, and it’s something I’ve done in my business, to a more hands-on approach to outsourcing. Having a team that cares, is experienced, and easy to get on skype even while you’re not at home is “Priceless.” Once you hammer out the specifics, a dedicated team that knows what they are doing will help you make money, like clockwork. I don’t believe entrepreneurs when they say “I” built this business from ground up, the idea maybe, but there is a team behind the success, that is overlooked. Business is a team sport.
Not only does outsourcing really effective but you can claim it as an expense for your business, like paying employees.
Building your team breaks down into these 3 categories:
- A sales team
- Project team
- Traffic team
- Customer support
These are only a few idea’s how you can utilize outsourcing, I included what has worked for me with a few idea’s. But in the end it’s your business and you have to decide what tasks you should or shouldn’t be doing to turn a profit. I highly recommend outsourcing to get your business to the stratosphere and beyond, and hope you can implement some of my idea’s to get you there. Leave comments below and see you in the next post!