Do you think outsourcing is only for big businesses?
It’s a common misconception…
But outsourcing benefits small businesses – sometimes even to a greater extent than larger organizations.
If you want to grow your business or get out from underneath the tasks that weigh you down, you’ll give serious consideration to outsourcing everything you’re not good at…and some of the things you are…
Here are some simple steps you can follow to figure out if outsourcing makes sense for your business.
Step 1: Know Your Strengths
There are certain universal qualities in entrepreneurs.
They are risk-takers by nature. They are visionaries, accomplished at swimming upstream.
An entrepreneur’s individual strengths lay in their field of expertise, their threshold for risk, their ability to forge relationships, and their willingness to think outside the box.
Take time to consider your strong suits.
Are you a wizard at inspiring investors?
Do you have a broad, healthy network of potential customers and suppliers?
Does your education and training give you a unique perspective on a common industry or market trend?
Be clear on what you know you can handle with confidence and competence. Tasks around those abilities will remain on your desk.
Step 2: Know Your Weaknesses
The flipside of an entrepreneur’s universal skillset…
They tend to be control freaks. They like starting projects but don’t always nail the follow-through. They’re captivated by tomorrow’s big idea, leaving yesterday’s and today’s in the dust for someone else to sweep up.
There’s nothing wrong with these traits.
Innovation is the lifeblood of any new or thriving business. But, to keep the blood pumping, you need support with tasks that you,
- don’t know a thing about,
- don’t have time or care to learn about,
- have muddled through and done poorly,
- find distracting or a nuisance during your workday,
- have to do to keep your business running smoothly.
That’s where outsourcing benefits come to the forefront.
Step 3: Delegate
Once you’ve figured out the areas of your business that are well under your control, ask yourself a secondary question:
I can do that task, but is it the best use of my time?
There might be tasks that come easily to you…in fact, they might be the one part of your day during which you feel genuinely productive.
But could anyone else do that specific task? Does it require that you be present or that the individual completing it be in the office with you?
Maybe you’ve come from an accounting background, so you find processing your accounts receivable easy and satisfying.
As the CEO or President of your enterprise, should you be hunched over a computer entering invoices, or should you be setting your third quarter sales projections, searching out new markets for your product or service, building relationships with existing clients?
Event planning is another black hole for entrepreneurs. Once you’ve conceived of a special event or signed up to participate in a trade show, the planning can be an exciting challenge. Designing promotional material, planning your decor, talking to caterers and venue staff, booking flights, haggling with hotels…
You enjoy doing it…but should you be doing it? Probably not.
It’s important to delegate tasks that don’t require your specific skillset so you can put that skill set to work for the most significant possible impact on your company.
The Do’s and Don’ts of Delegating
Outsourcing benefits come to entrepreneurs who know when to let go and when to trust an outside expert.
Keep in mind, though, that your commodity is your unique product or service. Any aspect of the design or development of that commodity should be kept within your control. Never outsource the ingredients that set your company apart from the competition.
So, what can you outsource without sacrificing your company’s core character?
- Accounting and bookkeeping
- Legal transactions
- Licensing and permits
- Data collection
- Event planning
- Organization of your emails, voicemail, and contacts
These are all tasks that could be handled by an effective executive assistant – or “detail whisperer,” as we like to call them at Vision.
Outsourcing saves you time and money
Outsourcing can save a small business money in the short and long term.
When you stop muddling through tasks that aren’t in your wheelhouse, you get back the time and headspace you need to continue innovating and growing your business.
You’ll also save money on payroll and overhead. Freelance and contract workers won’t be part of any benefits plan you have for your employees, and you won’t need to add office space for them, either. They can be brought in for a particular project and leave when the job is done.
It can be hard to hand over the reins when you’ve built your business from the ground up, but outsourcing is a wise choice for any visionary that wants to continue building without getting mired in the details.
Would you like to learn more about our service? Contact us, and we’ll tell you how our team can help you achieve your business goals, one task at a time.