Why Outsourcing Can Make You Big Money

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 advantages of outsourcing and will explain a bit about the added benefits. Once you have accomplished all of these, you'll see how you're able to make big money by focusing on the right things. 

8 Outsourcing Moves that will Benefit Your Business 

Lowered Costs 

Can be one of the biggest reasons 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 70% in operational costs with an outsourcing partner. 

Customer Service 

In marketing, customer service is a big asset to focus 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 

Everyone enjoys it when things run smoothly, and being able to take on more tasks or create more campaigns is definitely a huge plus. Properly managing your time can open new doors to other areas in your market. Automation also helps in this area, and some of the internet tasks with help from experienced teams will make the daily operations run much more productive, and make more money. 

Lowered Risk 

Every business has 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 pros and cons before committing to it. 

Leverage Your Time Better 

As I said above, time is the most sought-after asset in business, money is second to that. So, in business you're 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. 

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 help you focus because you’re paying for experts to do the work that you don't even specialize in anyway. 

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 .... and many many more exciting things you can come up with.  Personal attention is what customers want, and when you engage with them directly, it will add trust, personality and convert them into loyal customers. 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.  That is also an important adjustment to consider, even if it sounds simple - You don't have to do everything yourself!    More “Time” does 3 things for your business: 

1. Elevates your credibility and trust with customers 
2. Makes your customer feel like #1 
3. You get the sale no matter what the cost 

 

Build Your Team 

My last point about the benefits of 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 - from a more hands-on approach to outsourcing. Having a team that cares, is experienced, and motivated 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 is outsourcing really effective but you can claim it as an expense for your business, like paying employees.    Building your team breaks down into these 4 categories: 

1. A sales team 
2. Project team 
3. Traffic team 
4. Customer support 

  These are only a few ideas on how you can utilize outsourcing. I included what has worked, 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 ideas to get you there.                

Source: Why Outsourcing Can Make You Big Money - Business 2 Community