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08 Oct 2019
Recently I had a refreshing chat with both Jaime and Paul Richmond from Vibe Studios in Melbourne. They provided an inspiring summary of the journey Jaime took to buil... Read More
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You may have begun your business after spotting a gap in the market, or simply love what you do. Either way, chances are you’ll spend less time being paid for your work than you would like, and more unpaid time acting like an octopus. The reason: you’re struggling to manage every aspect of your business … all while providing the quality product or service: the reason you began your business in the first place.
Ridiculous, isn’t it? You’re not an octopus. Yet you somehow ask yourself to be an expert in all aspects of business management.
Consider the number of hours you spend bookkeeping each month. Would they not be better spent actually providing work for paying clients, or spending time with your family?
Outsourcing will save you time, stress and money. You don’t need to enlist a telecommunications company overseas. Local businesses or sole traders are everywhere, and with a bit of research, you’ll pick the right one. Here’s why:
Bookkeeping and accounts are considered a chore and keeping them up-to-date takes up valuable hours each month, yet a trained accountant may consolidate them in minutes. No need to spend valuable work hours or precious family time doing what trained people can do in a fraction of the time.
Use their expertise
You may be an expert at what you do, but your marketing abilities are not so strong. Why not use the services of someone with just as much skill in their business as you have in yours? In addition to saving you those hair-pulling hours of frustrated market research (or accounting, web management, logistics, etc), their advice could result in a great business deal down the track.
Count the hours you spend on your accounts, marketing, management of your website and records. Then multiply them by your hourly rate, if you have one. This is the amount you have the potential to earn, right now … but you’re stuck in octopus mode.
Consider paying someone – a local accountant, or a university graduate in want of experience – who charges a lesser rate than yours to do these jobs. It’s an expense that will earn you money.
It’s not hard to see the advantages of outsourcing. Just be sure to do your research, meet the person if you can, to see if they’re right for your business and you’ll find yourself feeling more human with less stress, more time and more paid hours to do what you love.