Why Outsourcing is the SECRET ingredient for successful businesses.
Have you found a new product or service that you want to add – but you don't have the time or resources?
Adding new services your business sells and fulfills itself can be a great idea, but it’s not always practical.
Perhaps clients are asking for a service or product you don’t provide, and you don’t want to hire a new employee.
Maybe you need to add someone to manage social media accounts or edit content, but you’re already stretched thin.
There is a way to add these services or offers – outsource and let someone else do the work.
Let’s say you’re a web designer who often gets requests to create videos for your clients. You’ve always passed on that extra business because creating great videos is too time-consuming and not part of your skill set.
Instead of having the customer go elsewhere, why not look for companies performing those services and add them to your offer?
Adding these new services or products is easy once you start thinking beyond doing it all yourself.
You can find a partner video business for a complete solution or hire a freelancer and manage their work.
Want to amp this up?
Take the video and add additional value, such as SEO or social management, to increase the prices you can charge and provide a value-added solution.
And yes, you could hire that extra part out, too. Outsourcing can be a great way of making extra money, potentially with huge margins.
The partner business or freelancer is making money.
You’re making more money.
And you have happy customers with a complete solution provided through your company.
To find these partner companies or freelancers, look for a local business.
Request referrals through your professional networks. Talk to trusted other professionals and ask who they hire. Ask in your online business groups. You may be able to find a new partner right around the corner.
If your personal network search comes up empty, check out online work-for-hire sites.
There are many sites where freelancers and businesses showcase talent for sale, such as Fiverr, Craigslist, Freelancer, or Upwork.
These online work-for-hire listings showcase freelancers for almost any service or product your business needs.
You can find freelancers who create videos for less than $100. You could bill that video work for $250 or more.
If you add video services to your offer, you get a nice extra bump in your sales price by making it easy for your client to shop one-stop.
And all you had to do was hire the video freelancer to do the actual work.
To help market this service, get permission to use the outsourced professional's testimonials, social proof, examples, sales pages, etc., to provide the "social proof" to sell the service to your clients.
Outsourcing can be a huge win-win.
Your customers and prospects really want those services and would have likely bought them from someone else - so why not buy from you?
Adding a couple of these services can be relatively easy. And profitable.
You get to mark up services your clients need while adding almost no extra work for you.
Start thinking about the complementary services and products you could offer when you add outsourcing to your product mix.
Think about the entire customer journey. What product or service could you add if you could hire the right person to fulfill this?
Still not convinced?
Here are FIVE reasons to add outsourcing to your business.
You may lower your labor costs.
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Outsourcing to regions with lower labor costs can significantly reduce expenses. This is particularly true for manufacturing or labor-intensive services.
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Outsourcing companies may benefit from economies of scale, which small businesses cannot achieve independently. The higher volume managed by the outsourcing partner can result in lower costs for materials, production, and even services.
You can focus on what you do best.
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Outsourcing non-core activities allows a small business to develop and perfect its core competencies, such as product development, customer service, or market expansion.
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Delegating tasks outside the business's main expertise can increase overall productivity, as the in-house team can focus on tasks that contribute most directly to the business's bottom line.
You get access to expertise and technology.
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Outsourcing allows small businesses to tap into a global talent pool and utilize expertise that might be too expensive or unavailable locally.
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Outsourcing firms often have access to the latest technologies and software, which a small business can benefit from without investing heavily in their own technology infrastructure.
You can mitigate the risks of expansion.
- Outsourcing allows a business to scale up or down quickly in response to market demands without the risk and cost associated with hiring and training new employees or investing in new infrastructure.
You can hire regulatory and compliance experts.
- Outsourcing regulatory and compliance issues allows a small business to pick and hire whichever experts they need.
- Your small business can hire experts such as compliance officers, regulation specialists, and tech experts.
- Hiring on-demand lets you hire the pros you need without the overhead of full-time employees.
How will YOU use Outsourcing to GROW and PROFIT?
Take action: Download the worksheet.
This post is taken from Profit-ize Your Business Book Four: SEO and Business Development.
Like this post? It was taken from the Profitize Your Business series
