With the various new forms of technology, there have never been more ways to enrich your life as an entrepreneur, reach your target audience and grow your business. The only problem is, how can you manage everything? Software, apps, and other tools might help, but the overwhelming list of tasks can be excessively time-consuming if you are a solopreneur.
A solution that is exceptionally effective is to outsource your administrative and back end tasks. Some business owners balk at the idea, wondering if they will have enough resources and comfort level to make it feasible. However, statistics compiled over the last decade have revealed a growing trend, with over 43% of companies now using outsourcing to help successfully manage their business operations. It makes perfect sense, since the more power we have behind us; the more work we are capable of doing. You can achieve more by doing less.
If you are new to the outsourcing concept, these 5 high-level steps can help you streamline this process and get the ball rolling to free up your time and your mind.
- DETERMINE WHAT YOU CAN OUTSOURCE
Typically, at Ace Concierge, LLC we assess the type of tasks associated with your business functions and daily management. They might fall under two categories: highly repetitive tasks, such as data entry, social media management, and blogging; or more specialized knowledge, such as accounts payable or web design. You may also have your own list according to your industry and niche in addition to the day to day necessities of processes and procedures. Once we have determined a list of tasks you’d like to outsource, we can determine the skill level needed and begin to narrow down your options.
- WEIGH THE COST VS BENEFITS OF OUTSOURCING
Begin with determining your own time value and where you should prioritize your efforts. If you tend to bury yourself in the daily minutia, for example, social media, editing, proofing, or curating content, it is here you need to ask yourself if this is the best value of your time? Is this your expertise, why you started your business? More often than not, it doesn’t represent your core genius, won’t provide an immediate return and isn’t a fundamental function of your company. While these tasks and activities represent daily necessities of an online presence, they don’t embody the crux of your knowledge and capabilities.
As an entrepreneur, your time needs to be protected, leveraged and highly valued. Outsourcing maintains these properties keeping you highly effective and focused on your business, growth, development and other primary structures of operations. Delegating allows you to forgo other things you would pay an actual employee, such as insurance, training, extra office space, supplies, and benefits. Instead, you are only paying for the project time which is a tremendous cost savings.
- DECIDING WHO TO OUTSOURCE TO
One of the most popular questions we get asked is, “Who should we use? How do we know they’ll do a good job?” As the old saying goes, “You get what you pay for.” There are many opportunities to find cheap labor from developing countries, but the difference in hours, language barriers, and skills can sometimes pose a problem. These are options you must consider, especially if you are presenting their work to your own clients.
Consider partnering with another entrepreneurial like-minded individual as they will understand what it takes to own and operate a successful, viable company. If you only choose someone based upon price, a “one-off task master” then that is all you will receive. Point A to Point B with nothing in between. Think in terms of a virtual business partner who has your best interests at heart. Someone who invests in you, your time and your company to help you achieve your goals.
- CREATE A PLAN AND EXPECTATIONS
One mistake we frequently hear from business owners is frustration when a project is delivered and it’s not what was expected, it wasn’t on time, or it was not successfully executed. Clearly plan and outline for accountability and outcomes, keeping all lines of communication open. We try to stress the importance of a strategy that all agree upon to ensure that all needs and requirements are met or exceeded. It is difficult enough to give up what you have always done so it’s vital to create a solid foundation with dialog, expectations, and feedback.
- RELINQUISH CONTROL
The hardest step business owners tend to have is relinquishing control and letting the person or business you’ve hired do their job. Remember, you’re outsourcing for a reason. You need to focus your time and energy on other more important, high payoff activities relative to your business. It doesn’t make sense to outsource a project or task and manage it from afar. If that’s the case, you should save your money and do it yourself!
Assigning the control to someone else can be nerve-racking, especially if you’ve been involved in every aspect of the business from the start. As Ace Concierge, LLC has continued to practice outsourcing ourselves, as well as accomplishing administrative tasks and business management operations on behalf of our own clients, we’ve seen an increase both in productivity and the efficiency with which we can grow our businesses.
Leveraging time, expertise and a team is a growth mentality. It’s worked for us, and we’d love to show you how it can work for you!Business & Finance Articles on Business 2 Community