Wednesday, April 17, 2013
The other day I talked about “Outsourcing” some of your work. When you’re growing a business and you have lots on your plate, some times it is advantageous for you to Outsource some of your work so that you can spend your valuable time on the crust of your business and let someone else handle the mundane daily activities.
Now, how about things you should “NOT” outsource, let’s look at that for at a minute;
You should not outsource your core competencies. Meaning, if you are a copywriter you should not outsource writing copy. Or at least not until you can afford to hire someone who writes as good as you do. You also shouldn’t outsource relationships with investors, deal making or setting the direction of your company.
Other than these four main things, your core competencies (ie. copy writing in this instance), investors, deal making, and direction, almost anything else can be outsourced. The 64 million dollar question is: “What is your time worth?”
Let’s just say that you value your time at $50 an hour. If that is the case, any time you can outsource a task for less than $50 an hour, you’re essentially “making money.” This of course also has to take in account that you are actually already making money. If you are not, then you might have to devalue your own work a little and say your time is worth a little less.
You can still outsource at a significantly reduced rate by using an outsourcing company like oDesk or Elance, where you tell them what you will pay for a job and people bid on it. I have had a lot of success with both these companies.
There are people out there in the world looking for work and they are willing to do it for a lot less than you think. Check them out.
Let us know if you have every used an outsourcing company or ever outsourced any of your work, we would love to hear about it.