collaborative post // The early days of most start-ups will require people to dig in and take on every task that is available. There aren’t enough hours in the day to do everything, but somehow the hustle and drive kick in, and you manage.
But over time, this pace becomes unsustainable for most people – and so it should.
But then what? You’ve started making some profits, and it is now enough for you to start making smart decisions about how you spend your time and, more importantly, where you spend your money.
Outsourcing tasks has long been the plan for many solo entrepreneurs, and with good reason. Why do the task yourself when it is more cost-effective to get someone else to handle it while you work on client work?
So let’s consider why you should outsource or make it part of your strategy as you grow.
If you have a set of employees and you rely on them for a lot, and suddenly one of them wants to leave, you have a sizable financial hole that you’ll need to fill and quickly. Losing people that are essential to your business can be extremely expensive, and recruiting also takes time.
When you outsource work as you need to, you’re never going to come up short on people power. Building your talent pool to start with can be fairly important, but once you have some reliable freelancers you can go to, and even some businesses that offer simple subscriptions when you need them, like Design Cloud Agency, the risk of losing people, time and money is significantly reduced.
Most freelancers will have one specialty, but they will typically have a whole range of other skills – because that can be the nature of the work. When you outsource things like your IT, graphic design, and content (as a start), you have access to millions of talented people and thousands of modern tech services.
If you don’t have in-house staff, you won’t have a set outgoing cost every month, and although there can be benefits to that, if one month was particularly tough client-wise, you will see find that their salary hurts the bottom line.
It also means that those months you have less coming in and still need to pay out – those employed people might’ve been surplus to what you really needed.
When you have subscription software and hire as you need, you have tighter control over your cash flow and can make smarter decisions.
As a business owner, if you are doing everything yourself, you will be missing out on putting some serious time in for your clients. When you are staying up and arranging things like social media and content, instead of chasing up hot leads, you will soon start to see a decline in the profits.
Outsourcing allows business owners to focus on the core business activities and make sure that their time is really paying.
Stop wasting your time, and start looking for things in your business that can be done by someone else. One thing you can’t let slip is your general business admin, though: How To Keep On Top of Self-Employment Admin · Jenny in Neverland.
[…] post // As a business leader you need to do everything you can to make sure that your business is running, is profitable, and stays afloat. You will see story after story about businesses that fail in the […]