Outsourcing is now mainstream because it works for businesses on a number of levels including profitability. It is common sense to source services from the most cost effective suppliers at the highest level of quality possible.
And because of the Internet, technology and automated software solutions, geographical locations are no longer relevant. A country such as the Philippines offers business services for up to half the cost or more, at great quality.
Running a successful business demands a number of elements to be in place.
Identifying a pain point for a group of people or niche
Coming up with a solution to that pain
Getting in front of the people with the pain
Attracting and engaging them through a value proposition that speaks to their pain at a price they can afford
Solving the problem and giving them an outcome
If you can’t solve your client’s problem cost effectively and earn profits for your business your business needs tweaking. Review your outsourcing strategy today to find the hidden and not so hidden potential profits.
The steps to help you review your outsourcing strategy are as follows:
Look at how much is your personal time worth and how do you spend your time?
Look at your mind set and what beliefs you have around control?
Look at the systems you have in place in your business?
Find out what is the most pressing task that if you outsourced, would grow your business quickly?
Review your staff’s workload and on which tasks take up most of their time? Is this the best use of their time?
Review what are you currently paying for staff and business services? Are you choosing smart options?
Learn the 7 steps to successful outsourcing.
Clever entrepreneurs recognize that it makes no sense to spend time doing tasks that could be delegated to team members for 5.00 an hour, and that goes for your staff’s time as well. If profits in your business are falling short of your targets this is the first place to look to solve the problem.
How much is your time worth? Are you or your staff overworked, stressed and behind in your client work, even though you work fifty to sixty hours per week?
This is now more relevant then ever because more people understand and have worked with team members from the Philippines and understand the value they bring to an organization for a fraction of the cost.
There are some things that only you in your business can do. It is imperative that as an entrepreneur you work out what these are?
Your time nor your staff’s time is not worth spent on repetitive tasks that an outsourced team member could easily do just as well as you do. The talent in the Philippines is of an extremely high standard. You have to simply know how to systematize your business, recruit and manage remote team workers.
Are you a control freak in your business? Do you doubt that anyone could do a job as well as you do? Are you afraid that if you let go of some of the jobs in your business that your business will fall apart and that the profits you do make would be compromised?
Or is it true that if you do delegate and outsource you are the one who will fall apart from work addiction withdrawal and control addiction withdrawal?
This behavior does not serve you or your business or your profits. You are capping the growth of your business if you don’t address this. You go around and around in circles working yourself into the ground never having any time to implement an effective outsourcing strategy.
Don’t worry, when you outsource you still very much need to be in control of the big picture and keep a handle on what your team members are doing and how long it takes them and to what quality? This is different from being a micro manager; it is creating leverage and true scale able business success.
Are you an entrepreneur just starting out? Are you building your income up to the point where you can afford to outsource, delegate and get help?
Are you someone that understands that if it were not for outsourcing to the Philippines you would be still stuck doing everything yourself? You know that to hire staff in Australia is out of your reach and too restrictive and simply not profitable.
What an amazing time to be starting your business. All you need to do is leverage off all of the outsourcing mistakes made by your competition and other business owners and learn the best and fastest way to fast track your business growth and profits through outsourcing.
Risks that made outsourcing prohibitive five years ago such as trust, now days are no longer as risky.
Software such as password protection software makes it easy to work with new remote team members. You never have to share your actual password with anybody. Your passwords are protected by a vault and your websites and systems can still be accessed.
Sites such as Upwok give you peace of mind and protection from dishonest contractors due to the payment process, the dispute resolution, the rating system and the in built time tracker.
In outsourcing today, there are more and more success stories then horror stories.
People feel comforted by the fact that more companies are outsourcing. The tipping point has started. Outsourcing to the Philippines will only increase. Outsourcing helps secure and maintain profits in your business.
Chances are that your competition are outsourcing and offering more and more value to their clients because labor is cheaper.
Your clients shopping around for your services will come to expect the same level of service from your business for the same price. Don’t disappoint them.
Learn how to successfully outsource and which components you need to have in place in your business.
Outsourcing is not just about finding some one, it is about setting up systems and managing remote team members. Each of these areas has it’s own set of principles, that learning will put you ahead of the game.
If you are an entrepreneur with bad habits such as never documenting conversations or recording tasks that need to be done by a certain date, or keeping records for easy access or you are simply not a team player, you will have difficulty with outsourcing initially.
Training yourself out of these habits may require the help of an experienced outsourcing coach and trainer. Investing time in your outsourcing strategy and education is the best investment you will ever make and the only way to fast track your business growth.
Ask yourself what do you really want. Do you want to have a job or do you want to have a business that makes profit and gives you freedom and choices?
And if you are an established business ask yourself what do I need to do to get to the next level? Am I working smart in my business and taking advantage of what outsourcing offers?
There is always a next level. Just because you have between 10 and 200 employees, what are you missing out on by not having and setting up a team in the Philippines? Think about travelling to the Philippines and going on a business tour. This could change the direction of your business and give you future business ideas.
The world’s best value for business services is certainly not in Australia or the USA. And education never stops as an entrepreneur. Outsourcing education and implementation is like learning how to print money.