Big businesses seem to have perfected the art of outsourcing or off-shoring many of their functions to external workforces, helping them bump up their profits and streamlining their operations. It’s a trend that’s making its way down the professional ladder, and one whose benefits are becoming even more advantageous the smaller your business is. Even individually run enterprises or freelancers can stand to reap a massive payoff from the simple but effective initiative of getting other people to take on less skilled work, or tasks that lie outside their own realm of expertise. Here are the four big benefits of outsourcing that you could soon be enjoying yourself.
Our time is probably the most valuable commodity that we have, actually playing a greater role in our ability to be happy than money alone. As one of our most precious resources, time should be spent wisely. Outsourcing allows us to delegate everything but the things we are most valuable for to others, making our time more productive.
Given that up to nine out of ten small businesses are failing in their first year, finding the most efficient processes for getting things done, and evolving with the fast-paced and constantly changing professional milieu, is becoming more crucial than ever. Outsourcing gives you the opportunity to focus your skills and attention where they’re needed most: not on time-consuming admin and everyday tasks, but on the nitty-gritty of strategizing a productive and lucrative way forward for your business.
Money is, of course, one of the main motivators for any business. And the saying ‘you have to spend money to make money’ holds true with outsourcing as with many other facets of good business sense. The rule of outsourcing is simple: you pay someone else to do something, at a rate that is equal to, or preferably lower, than your own hourly rate. This way, you have the opportunity to make more money per hour by capitalizing on your most valuable skills.
Quality of life
Of course none of these factors mean much if they don’t translate to a better standard of everyday living for you and the people that are important to you. This is where outsourcing shines: you’re happier when you’re being productive, and when you’re doing what you love. You’re making more money and valuing your most important skills. You’re freeing up time for personal development and developing your business. It’s a win-win situation.