Is Outsourcing bad for my Business?
Written by: Sharon Crombie, Executive Contributor
Executive Contributors at Brainz Magazine are handpicked and invited to contribute because of their knowledge and valuable insight within their area of expertise.
The never-ending list of to-dos. Does it ever get shorter? When you run your own business, you have to take care of EVERYTHING, so it can be hard to get any “real work” done. The more our business grows, the further it feels we are to working on the true goal of the business.
By spending more time doing new tasks that running a business demands of us, we spend precious time learning these new skills that are required of us. That is precious time that should be put toward the business, isn’t it?
If you are in agreement with this, you are not alone.
Is outsourcing bad?
Outsourcing has typically been a bit of a dirty word in the business world. The thought of outsourcing can be associated with poor work, missed deadlines, and a lot of mistrust.
The global outsourcing industry has been growing over the past decade and in 2019, it was worth $92.5 billion, which was $15 billion more compared to 3 years prior. Around 70% of businesses in the UK outsource due to difficulty finding the relevant skills locally, cost-effectiveness, and improved results.
Outsourcing does not need to mean offshore outsourcing, but it can do. Some businesses believe that outsourcing offshore is not supporting the local economy, however, I like to see it the other way. By outsourcing, whether locally or offshore, businesses are able to find efficiencies in costs and time and are therefore able to expand at a more rapid rate and compete on a global scale, which in turn supports the economy.
What can I outsource in my business?
So, what are some of the tasks you can outsource?
Virtual Assistant
A Virtual Assistant is like an assistant, but they are situated remotely and are not part of your staff. A virtual assistant can help with all of your administrative duties at a fraction of the price and frees you up to be able to spend more time on your business.
Here are some administrative tasks you could off-load to a VA:
Research
Data collection
Ghostwriting
Surveying customers
Analyzing data
Building reports
Document management
Calendar management
Travel arrangements
Customer service emails
Transcribing audio from videos or take meeting notes
Personal errands such as banking or posting items
Social media scheduling
Receipt filing
Social Media Marketing
Social media is something a lot of businesses try to do internally. It requires learning a new skill and can soak up lots of time. I know! I went down this path and decided to outsource all of my social media marketing to a boutique business that I clicked with, and that has just opened me up to so many more opportunities. Not only do they do a better job than I ever could, but I also have more time to focus on my business.
Like social media, financial data can be another steep learning curve if this is not what you’re trained in. There are nuances to managing financial data, expenses, employee payments, and super, and there is little benefit to you as a business to try and learn this new skill and do it yourself (although I commend you if you tried!). I am not just saying this because I want your business. Of course, I do, but that is only because I want you to succeed and to free you up, allowing me to do my job so you can do yours!
Cleaning and Housework
A lot of us are still working from home from the pandemic, and even without the pandemic, a lot of startups will rightly save money on renting an office to work in their living room or bedroom. Cleaning your home office is something that will give you a lot more time in your business. Even if you don’t work from home and are fortunate to be in an office, hiring a cleaner for your home means you don’t have to worry and you can focus your non-working time doing things you enjoy instead of cleaning!
What services have you been outsourcing in your life that you haven’t even considered? Childcare? Online shopping? All things to allow you more time to work and spend time with family and friends, doing more of the things that bring joy to your life.
Outsourcing is not a dirty word!
Sharon Crombie, Executive Contributor Brainz Magazine
Sharon Crombie is a passionate, innovative entrepreneur; founding MicroChilli a bookkeeping and advisory practice, after becoming disillusioned with the corporate world and recognizing there was a huge gap in the market for micro-businesses needing accounting support.
Fed up with being treated like a number by faceless CEOs, she has been on a relentless quest to create a community of quirky like-minded entrepreneurs where her core values of passion, connection, and friendships are intertwined with her love of numbers and the story they tell. Her mission: Taking micro-businesses from 'hot mess to flaming success.'
