Want to know the impact of outsourcing parts of your business? Check out the truth here!
When I started my business years ago, I didn’t set out with a plan to hire anyone. The only plan I really set out with was to make my business successful enough that I could make a decent living and write my books. I muddled my way through the ins and outs of starting the business, and I found some success in the first year despite–or maybe because of–COVID. The last thing on my mind was hiring someone.
But as my business grew, I realized that my team needed to grow too. Everyone kept talking about outsourcing, and I knew that I needed to outsource, but I couldn’t figure out where to get started and how it would impact my finances or my business. I was nervous.
I’m not going to lie and say it’s been easy or cheap, but outsourcing has probably been the one thing that has helped keep me and my business going strong.
Outsourcing is when a business hires a person or business to do a job instead of creating a position or department within the company. Often, the need is temporary, but when done well, it can become a repetitive working partnership. Many people outsource their marketing, IT, printing services, shipping, etc.
The process of outsourcing varies, but for business owners like myself, it starts with a list. I like to start by looking at value.
Make a list of all the tasks that you hate to do and how long it takes you to do them.
Add to that list all the tasks that you don’t enjoy and how long it takes you to do them.
Add to that list all the tasks that you know you need to do but don’t.
Add to that list all the specialized skills that you know you do not know how to do.
Group tasks together under logical umbrella skills/areas.
Determine how much time you would spend on those tasks.
Multiply that amount by your hourly rate to get how much you would spend on those tasks.
That final amount gives you an idea of the value of outsourcing.
Outsourcing gives you an opportunity to grow your business by either allowing you to focus on your zone of genius or by giving you the resources to move your business forward. When you have tasks that you don’t enjoy off your hands, you can focus on growing your business, working with clients, and growing sales. When you have a team set on growing your business, you can lean into the collaboration and rely on them to take you in the right direction.
For me, outsourcing provides me the collaboration that I need to grow my business and to stay sane. My OBM has talked me into a state of calm more than once. When my ideas are all over the place, she brings me down to reality. When I’m down, she helps me see that there is a light. When I’m overwhelmed, she takes part of the weight from me. She has helped me keep my business going and grow my business into what it is today.
.The full truth about outsourcing is that it isn’t cheap. If you’re looking for someone to take a part of your business stress from you, it will cost. But the investment spent outsourcing is worth every single penny.