Loading...
Menu

How To Outsource: The Ultimate Guide To Making More And Working Less

p<>{color:#000;}.

How To Outsource

The Ultimate Guide To Making More And Working Less

Table Of Contents

Free Bonus: Kindle Publishing Starter Kit

Table Of Contents 2

Free Bonus: Kindle Publishing Starter Kit 3

Introduction 4

Chapter 1: An Overview of Outsourcing 6

Chapter 2: The Advantages of Outsourcing 9

Chapter 3: The Disadvantages of Outsourcing 12

Chapter 4: Where to Outsource 14

Chapter 5: Outsourcing Tips 16

Conclusion 17

CLICK HERE 17

Free Bonus: Kindle Publishing Starter Kit

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I want to show you how I am able to make 6-figures Publishing books just like this one! I’ve been Publishing on Kindle for Over 2 years and I have finally cracked the kindle code! In this free Bonus you will receive.

 

*
p<>{color:#000;}.        A VIDEO series on getting started with Kindle Publishing

*
p<>{color:#000;}.        My Simple 7-step system for making Six-figures with Kindle Publishing.

*
p<>{color:#000;}.        My Kindle Outsourcing toolkit.

*
p<>{color:#000;}.       Access to over 200 videos on making money online, Productivity, Health, Fitness, Finances and other content intended to take your life to the next level.

CLICK HERE TO GET THE STARTER KIT

 

 

 

 

Introduction

 

One of the primary goals of any business – regardless of the industry it’s in – is to make a profit. This can be achieved, first and foremost, by coming up with a feasible and lucrative business concept. Afterwards, you need to shift your focus to operating and managing your business properly. You also need to make sure that you employ the right marketing strategies to be able to reach out to and even go beyond your target market. These are but the basics, though: there are numerous other ways by which you can improve the performance of your business and ultimately increase your earnings. Some of these constitute a direct approach, such as marketing your goods online to attract more customers. Other methods help you make more money indirectly; a good example is outsourcing. What is this about?

Outsourcing is, simply put, delegating a business process to another person or company for a fee. The kind of jobs that can be outsourced vary greatly, to the extent that nowadays you will find that almost any task that has something to do with your business can be delegated to a third party. If you are looking to enhance the support you provide to your customers, for instance, there are numerous companies both local and overseas that can provide this type of service for you. Or if you are a business owner interested in establishing and improving your company’s online presence, you can hire the services of a professional or an agency that specializes in online marketing and/or SEO (search engine optimization) to help you meet these objectives. These examples are but some of the tasks that you can outsource successfully.

If you are a freelancer offering specialized services or you have a small business, chances are you’ve heard about outsourcing but have disregarded it. This attitude – common amongst starting and small-time entrepreneurs – stems from two misguided beliefs. The first is that only big companies have a need for it; the second, that outsourcing is an added expense that is not really necessary to the growth of a business. The truth is, anyone who wants more time in their hands can benefit immensely from outsourcing. As such, whether you own numerous establishments or you have just launched an e-commerce site for your products, you should definitely consider outsourcing to qualified and credible professionals at least one of the time-consuming tasks that do not really require your full attention or personal touch. Doing so will afford you more time – time that you can spend improving your business or engaging in other productive activities.

This eBook will help you understand outsourcing and how it can help your business thrive. You will also be given enough information to enable you to decide whether or not outsourcing is right for your business. Tips on how and where to outsource are likewise included. Whether you are a freelancer or the owner of a small company, you will definitely find useful information within the pages of this eBook.

Chapter 1: An Overview of Outsourcing

A clearer understanding of outsourcing is important whether you are already convinced of its necessity or you are still doubtful of its supposedly major role in the success of your business. If you are seriously considering contracting out a business function to a third-party service provider, more information about what you will be getting into won’t hurt; in fact, it will even allow you to make better decisions regarding what, where, and how to outsource. On the other hand, if you are skeptical of this approach, it would be wise if you dig deeper into the matter before you completely dismiss the idea of delegating your business’ non-core activities to a BPO (business process outsourcing) company. You might be missing out on an opportunity to jumpstart and even hasten the growth of your business if you rely on misconceptions and do not do research yourself.

A Brief Look at Outsourcing

As mentioned in the introduction to this eBook, outsourcing is simply the delegation of business processes to a third-party service provider. More and more companies are applying this strategy today for various reasons, but primarily to cut costs. Other motives include risk mitigation and to facilitate the expansion of their business, among other things. All these, as well as the other advantages of outsourcing, will be discussed more extensively in the next chapter. For now, there are only several facts you need to know.

First, outsourcing involves contracting out a business-related task to another company for a price. The tasks usually outsourced are not core components of the business, but rather support and ancillary functions. These may range from coding and payroll to more complex processes such as website programming.

Second, the company hired to take over the process is also called a “vendor”, and may be based locally or overseas. The cost of outsourcing depends on a number of factors, including the following: the duration of the contract, the difficulty of the task to be performed, the magnitude of the project, and the location of the vendor.

Third, as said earlier, numerous businesses have already taken to outsourcing. Entrepreneurs who have availed themselves of outsourced services do not only include big-time players (that is, owners of large companies) but also people who own and/or run small and medium-sized enterprises, as well as freelancers.

Finally, there is a wide variety of outsourced services that any business owner or company can benefit from. A short list is provided in the next part of this chapter.

Outsourced Services You Can Take Advantage Of

The impact of outsourcing is immense and far-reaching because it touches virtually every industry. And within each industry, outsourcing can be applied to a large number of support and ancillary functions, which means most, if not all, businesses can benefit from it one way or another. Below is a rundown of some of the areas that encompass the most popular outsourced services today.

Content Creation – With the Internet permeating the lives of millions of people worldwide, it’s no longer surprising that more and more business owners and freelancers have made it a point to establish an online presence. This is usually done by creating a website or setting up an account in various social networking sites. But that is just the first step. In order to successfully engage with and maintain the interest of your target market via the World Wide Web, it is important that you provide them with updated, interesting, and relevant information. This task may seem easy, but it requires a lot of time and energy. To solve this problem, you can outsource content creation by hiring writers and other professionals specializing in this area.

Human Resources – The tasks that fall under human resources (HR) can eat up a company’s resources, so it’s no surprise that many businesses now take advantage of outsourced services that deal with payroll and employment (that is, firing and hiring employees, coming up with a remuneration package, and the like) and other functions of HR personnel.

Administrative Services – If you own a small business, chances are you – like other entrepreneurs – are reluctant to hire an assistant or more employees because doing so will increase your expenditure. Aside from the new hire’s salary and other benefits, space and equipment have to be provided as well, which can be a problem especially if your business is home-based and/or you are a one-man team. However, you can only do everything by yourself or with just one or two employees for so long; once your business takes off, you will need assistance to ensure the growth and stability of your company. The best solution here is to outsource administrative duties such as handling phone calls, scheduling meetings and appointments, and responding to email to a virtual assistant.

Call Centers – Instead of handling customer support themselves, many large companies today have resorted to outsourcing this function to BPO companies abroad in an effort to cut costs. And even if you only own a small company, you can still take advantage of a similar service so that you don’t have to set up your own call center (which can eat up company resources) to provide support to your clientele.

Web Design and Programming – Creating a website is no simple feat. Even if there are numerous guides and free templates online as well as sites that allow you to set up your own website quickly and easily, if you want your business to stand out you need to hire the services of experts. This is the reason one of the most popular jobs being outsourced today is that of web designers. Aside from this, though, other jobs in the field of information technology (IT) such as programming have also become in-demand in the field of outsourcing.

Encoding/Transcription – Many legal and medical practitioners have a need for encoding and transcription services. However, it would be impractical for them to hire people and have these jobs done in-house: this will add tremendously to their overhead expenses, and most practicing professionals in the field of law and medicine do not have the space to accommodate more than a handful of employees. The most sensible course of action here is to outsource the said back-office functions to a qualified vendor.

Chapter 2: The Advantages of Outsourcing

While more and more business owners are taking advantage of outsourcing, it remains true that there are still a lot of people with small and medium enterprises who eye this strategy with suspicion. They often look at outsourcing as more of an unnecessary expense rather than an effective aid in increasing their company’s revenue. If you are one of those who have reservations about contracting out business processes to 3rd-party service providers (or “vendors” as they are called in the industry), you should definitely go over this chapter to know about the many advantages of outsourcing.

Outsourcing Advantages

Time Management – The core benefit of outsourcing business-related tasks has to do with time. The more tasks you delegate to vendors, the more time you have. This particular resource is invaluable to an entrepreneur like you as it plays a major role in the development and success of your endeavor. If you have ample time on your hands, you can focus on the growth of your business instead of channeling your resources towards non-core processes that can be done by others and hence require neither your expertise nor your utmost attention.

Cost Savings – Many freelancers as well as owners of small and medium-sized businesses dismiss the thought of outsourcing from the get-go because of cost. Before you do the same, though, you should first understand where this perception comes from and why it is not totally true. When compared to accomplishing business-related tasks in-house, outsourcing does look like a costly decision for any company because upfront payment is required to be able to take advantage of third-party services. However, upon deliberation you’ll see that doing all business processes in-house when you don’t have enough resources to do so will cost you more.

If you are interested in expanding your business, for instance, you might have to hire more people for the sake of efficiency and to maintain the smooth flow of operations. This will certainly increase your overhead: you’ll have more people to pay on a regular basis and utility bills will rise, among other things. You might also need to shoulder the cost of training the new hires, especially if the tasks that will be delegated to them are complex or highly specialized.

Focus on Core Business Activities – As said in the first point, outsourcing can free up a lot of time, which you can spend on paying attention to and taking care of the core processes of your business. Aside from time, though, outsourcing can likewise prevent non-core activities – that is, those that are not instrumental to the success of your business – from eating up company resources (both financial and human), especially during periods of expansion.

Flexibility in Staffing – A lot of businesses have a peak season wherein there is a surge in demand. These periods naturally necessitate an increase in resources – usually in the form of manpower. If you are running a company or business of this sort, you should definitely consider outsourcing functions that are affected the most during the said season. If you insist on keeping all operations in-house, you might find your company overstaffed as a result of hiring a lot of people during the busy periods. This is never good for any business because you will be wasting resources. On the contrary, if you outsource, you can enjoy a degree of staffing flexibility since you can increase manpower only when needed. This eliminates any chance of overstaffing, which in turn even helps you save money.

Increased Efficiency – Small business owners and solo entrepreneurs often work with only a small budget to keep operations smooth-sailing. Not only that: they also usually only have a handful of employees if they are not a one-man team. These factors can prevent small and starting companies from performing complicated but necessary back-office functions efficiently, thus making the expansion of the businesses rather difficult. The solution to this dilemma is outsourcing.

To give you a clearer picture of what this advantage is all about, take note of this example: Say you are a health care provider who would like to have more clients by increasing the number and variety of health insurance plans your clinic will accommodate. This will mean more forms to be filled out and more coding. If you only have one employee for this task, you might have to hold back on your expansion efforts, lest you are willing to hire more people for the job. But hiring more also means an increase in your overhead expenditures – a not-so-welcome consequence especially since you are unsure of the success of your plan.

The only way for you to mitigate risks and increase efficiency – thereby allowing you to push through with expanding your practice – is to outsource medical coding and billing functions to a third party provider or vendor that specializes in these areas. It is also important to note here that if you hire the services of a qualified vendor, you are assured of efficiency and quality of output – something that, if you opt to do the task in-house, you’ll only achieve if you add more people to your staff and invest in training for your employees.

Opportunity for Growth – Growth in any business is good news as it means more revenue. However, this cannot be achieved if no risks are taken and without an increase in a company’s expenses. These two conditions – risk and added cost – are precisely why it is difficult for small and medium-sized companies to grow, and for freelancers to expand their practice. If you would like to see your company grow and achieve your business objectives without risking too much of your resources, you should consider outsourcing. As what has been mentioned in the previous points, contracting out non-core activities can help you achieve your business goals because not only will you effectively minimize the risks associated with expansion but you will also have more time on your hands to focus on your business.

Chapter 3: The Disadvantages of Outsourcing

This eBook encourages you to take advantage of outsourcing so that you’ll have more time to focus on the more important aspects of your business and ultimately increase your revenue. To do this successfully, though, it is not enough that you are made aware of the benefits of delegating non-core business functions to third-party service providers; you should also know about its disadvantages. This way you’ll be able to decide whether to outsource or not. Read the rest of this chapter for some of the drawbacks to outsourcing.

Outsourcing Disadvantages

Added Expense – As said in the previous chapter, cost is the primary reason many small business owners and freelancers shy away from outsourcing. Indeed, contracting out a business process to a vendor can set you back by a considerable amount, especially if the job to be done is specialized and/or the project is long-term. Outsourcing to a vendor also has hidden costs: you will have to pay up for tasks that go beyond what is stated in your contract. In contrast, if you decide to perform all business functions in-house – that is, do the tasks yourself or delegate these to your staff – you won’t have to shell out anything provided that you don’t resort to hiring new people.

Confidentiality and Security Issues – Despite the fact that the contract between your company and any third-party service provider will likely have a confidentiality clause, the threat of a breach being committed by a vendor still remains. Payroll and medical billing information may be leaked or used for other purposes, leading to the confidentiality of these data being compromised. Also, issues may arise if your company’s proprietary knowledge or data needs to be shared when outsourcing a business process.

Communication Issues – This disadvantage is most seen when companies outsource customer support functions to third-party service providers. There are two communication issues that arise in the said scenario. First is language and cultural barriers. If you outsource to a BPO company located overseas – particularly in a country with a different mother tongue and an altogether different culture – problems with communication are likely to occur not only between you and the vendor but also between the vendor and your customers.

The choice and usage of words, as well as the accent of the people who will be handling your account, for instance, might make comprehension difficult for your customers, and will definitely affect their experience. The second communication issue in this scenario has something to do with quality. You don’t have a direct hand at providing support to your customers, and the third-party provider can only rely on the information and instructions you provide. Both these factors can result in poor quality of support: if the data the vendor has is outdated, for example, incorrect information may be given to the customer. This in turn can lead to a decrease in customer satisfaction which can affect the performance of your business.

Loss of Control – Since you are not directly involved in the business process you outsourced, you won’t have as much control over it as you’d have if you opted to go in-house. Using the example in the previous point, you’ll definitely find it more difficult to supervise and update the information provided by the people supposedly in your company’s customer support arm.

Problems with Quality – Like any other business, BPO companies are of course driven primarily by profit. There is actually no harm in this – you likely have a similar business objective, after all – but it can have a negative effect on output quality. You need to understand here that the third-party service provider you hire won’t share your company’s vision and mission. This may mean they won’t be as committed as you are to quality; they will only make sure that the terms of the contract are fulfilled. Other than this, it’s highly likely that a vendor provides its services to numerous businesses, which means they cannot and will not focus on your company alone. This, of course, can affect the quality of their output.

Chapter 4: Where to Outsource

 

Today’s technology has made it very easy for business owners like you to find an outsourcing vendor that can meet your needs. A quick search online can yield pages upon pages of results, so it certainly won’t be difficult for you to find third-party service providers whether you are looking to do business with a BPO (business process outsourcing) company or you are just interested in contracting a business task to an individual who has the experience and the right skill set. This is a good thing since you do not have to ask around or scour classified ads in order to outsource; however, making a short list out of and eventually choosing from all your online options can be very taxing. To make things a tad easier, go through the rest of this chapter to know several of the most popular outsourcing websites today.

Top Outsourcing Websites

If you are interested in hiring the services of freelancers specializing in areas such as web design, web development, programming, encoding, content creation, and SEO (search engine optimization), among others, take a look at the websites below. These are online marketplaces and/or outsourcing platforms where you can find professionals offering outsourced services or even clients if you are a freelancer yourself. Before you go any further, though, it is important to note that the websites cited are just a few of the many places where you can conduct your search. Also, these are not BPO companies.

oDesk – A very popular online marketplace for freelancers, with millions of users worldwide. You can find professionals from various fields here, from writers to website developers. The good thing about oDesk is you are likely to find the right people to outsource to, provided that you spend enough time going through and comparing the data of your potential candidates. These include proficiency test scores, client reviews, work history, and portfolio. You are also assured that you get your money’s worth because the site has a monitoring feature that lets you see if the people you hired are doing their job. Payment for freelancers here is usually by the hour, and the prices quoted include oDesk’s 10% service fee.

Elance – The notable features of Elance are similar to oDesk. Since this website is also very popular, you have a lot of freelancers with various specializations to choose from. You can likewise monitor the activities and track the progress of the people you hired. The only downside to using this platform is you need to pay a minimal fee to be able to set up an “employer” account before you can do any hiring. It is also important to note that quoted prices from freelancers have an 8.75% markup which serves as the website’s service fee.

Freelancer – One of, if not the, largest crowdsourcing/freelancing marketplace right now. Freelancer.com is a great place to find content writers, designers, and other professionals offering various outsourced services. All you have to do is post the project that needs to be done and then choose from among the bids you receive from the website’s users. The good thing about Freelancer is you upload your payment into escrow. Portions of the money you uploaded will only be released to the service provider you hired upon completion of the milestones you set. This minimizes the risk of hiring a fraudulent freelancer.

Guru – If you are looking for freelancers – especially designers and web developers – based in the US, this site is for you. Like Freelancer, Guru also allows you to place your money into escrow – a definite advantage over other marketplaces.

Chapter 5: Outsourcing Tips

After everything you’ve read from the previous chapters, chances are you’re now seriously considering outsourcing some of the tasks that have been unnecessarily consuming your resources and that of your company (and employees if applicable). Before you do, you might want to go through the rest of this final chapter for tips on how you can find the best vendors and take advantage of their services.

Determine if you should hire an individual or a team of professionals. You can get more consistent results if you hire an individual freelancer. Also, working directly with a single person can give you more control and will enable you to establish rapport, both of which can affect the quality of the work you’ll receive. However, if the project is too huge and/or complex, you should consider hiring a team.

Consider location. As mentioned earlier in this eBook, outsourced services providers may be based locally or overseas. Overseas professionals often charge lower fees, but you might encounter problems with communication, among other things. Hiring local providers, on the other hand, will cost you more, but you don’t have to worry about language and cultural barriers.

Know what to look into before hiring a freelancer. When using outsourcing websites, make sure that you compare the feedback received by your prospective employees. It won’t hurt to also take a look at their educational and work background; doing so will help you determine which ones have the knowledge and expertise to take on your project.

Conduct a screening test. A great way to separate those qualified to work on your project from those who are just interested in making money is to come up with a test. If you are looking to hire a content writer, for instance, you might want to ask those who placed bids to submit sample works or to write about a topic you chose.

Be aware of other ways you can take advantage of outsourced services. Aside from looking for service providers at outsourcing platforms/marketplaces, you can also find a vendor by posting in websites like craigslist or inquiring at online forums. For big projects, you can also get in touch with legitimate and reputable BPO companies.

Conclusion

Outsourcing is a business strategy that every entrepreneur should find time to discover and subscribe to. While it does present an additional expense and can result in a number of potential problems (particularly in communication, security, and confidentiality), the benefits that can be had from its application more than justify and outweigh these disadvantages. To reiterate, there are several advantages to outsourcing your business’ support and ancillary functions to a qualified and reputable service provider. The most important of these is it affords you more time, thus enabling you to focus on the core components of your business instead of draining your resources on tasks that, while important, are not central to the growth of your company. This results in your business doing better, which in turn leads to more revenue.

This eBook merely provides you with the basics on outsourcing, and seeks to enlighten you on the topic by helping you understand this strategy better. The advantages and disadvantages, as well as the short list of outsourcing websites provided are not all-inclusive. There are many other benefits to be had if you outsource, provided that you do your research first especially when it comes to choosing a third-party service provider. There are also other drawbacks to this strategy. As regards the websites mentioned in this eBook, these are but some of the reliable online marketplaces where you can look for professionals to take your business to. All in all, the objectives of this eBook are primarily to show you the importance of outsourcing to the success of your business, and to give you sufficient information that will hopefully get you to consider this strategy.

If you guys enjoyed this book please check out my Outsourcing Mastery Course! I have over 800 students that have learned and mastered the art of outsourcing. So if you’re looking to learn how to outsource check out the course today!

 

CLICK HERE


How To Outsource: The Ultimate Guide To Making More And Working Less

Learn Now How to Make More Money while Working Less! Today only, get this Amazon book for just $2.99. Regularly priced at $4.99. Read on your PC, Mac, smart phone, tablet or Kindle device. One of the primary goals of any business - regardless of the industry it’s in - is to make a profit. This can be achieved, first and foremost, by coming up with a feasible and lucrative business concept. Afterwards, you need to shift your focus to operating and managing your business properly. You also need to make sure that you employ the right marketing strategies to be able to reach out to and even go beyond your target market. These are but the basics, though: there are numerous other ways by which you can improve the performance of your business and ultimately increase your earnings. Some of these constitute a direct approach, such as marketing your goods online to attract more customers. Other methods help you make more money indirectly; a good example is outsourcing. What is this about? Outsourcing is, simply put, delegating a business process to another person or company for a fee. The kind of jobs that can be outsourced vary greatly, to the extent that nowadays you will find that almost any task that has something to do with your business can be delegated to a third party. If you are looking to enhance the support you provide to your customers, for instance, there are numerous companies both local and overseas that can provide this type of service for you. Or if you are a business owner interested in establishing and improving your company’s online presence, you can hire the services of a professional or an agency that specializes in online marketing and/or SEO (search engine optimization) to help you meet these objectives. These examples are but some of the tasks that you can outsource successfully. If you are a freelancer offering specialized services or you have a small business, chances are you’ve heard about outsourcing but have disregarded it. This attitude – common amongst starting and small-time entrepreneurs - stems from two misguided beliefs. The first is that only big companies have a need for it; the second, that outsourcing is an added expense that is not really necessary to the growth of a business. The truth is, anyone who wants more time in their hands can benefit immensely from outsourcing. As such, whether you own numerous establishments or you have just launched an e-commerce site for your products, you should definitely consider outsourcing to qualified and credible professionals at least one of the time-consuming tasks that do not really require your full attention or personal touch. Doing so will afford you more time – time that you can spend improving your business or engaging in other productive activities. This eBook will help you understand outsourcing and how it can help your business thrive. You will also be given enough information to enable you to decide whether or not outsourcing is right for your business. Tips on how and where to outsource are likewise included. Whether you are a freelancer or the owner of a small company, you will definitely find useful information within the pages of this eBook. Here Is A Preview Of What You'll Learn... -An Overview of Outsourcing -The Advantages of Outsourcing -The Disadvantages of Outsourcing -Where to Outsource -Outsourcing Tips -And Much, much more! Download your copy today! Take action today and download this book for a limited time discount of only Don't Delay Start Making Money with Outsourcing Today! Keywords: Outsourcing, Outsource, Outsource Smart, Outsource Time, BPO, Self Help, Productivity, Outsourcing Mastery, Outsourcing America, Outsourcing for Dummies

  • Author: Dalton Scott
  • Published: 2015-10-19 16:20:08
  • Words: 4739
How To Outsource: The Ultimate Guide To Making More And Working Less How To Outsource: The Ultimate Guide To Making More And Working Less