Outsourcing in 2022 - Can You Afford NOT to?
Hi, Everyone...
When it comes to things like content or product creation, nothing beats outsourcing in terms of getting it done with ease.
To make it work, you need to do some planning and upfront work - first to find and hire a competent freelancer and secondly to prepare what I like to call an RFQ (that is what we called these in the Army) or in layman's terms a "Request for Quote.".
In reality, what you are doing is getting a statement of requirements together, and the more detailed you are when preparing that document the better results you will get from the freelancer you outsource the work to.
Once you have found someone that you can trust to create deliverables to the standard you are looking for, you have a match made in heaven!
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How Does This Work?
The process can look something like this:
(1) You think up a profitable idea for content (or anything else that will help your business) …In the case of content for your websites, you do some research and get your title, keywords, style, and affiliate links to the related product or service together...
(2) You create that statement of requirements laying everything out for the freelancer...
(3) Your freelancer does all the rest of the work while you take all the credit after it is published!.
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Tell me the truth - It doesn’t get much better than that, does it! This is pie-in-the-sky stuff!
These days, I am doing a lot more outsourcing but to our in-house team. It works. Because the Freelancers do multi-functional duties for the company, they are working full-time essentially.
There are tasks that I used to do (that took up a lot of time, BTW) I now can farm out to free up my time. This is proving to be extremely useful, as my task list hasn't gotten any smaller, but the tasks are on a different level...
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Why Bring This Subject Up Here?
I think my take on outsourcing may help some members here get more done and with less work. I have even developed a course to discuss and teach the ins and outs of outsourcing.
There comes a time...
Our approach is that we teach students how to pick a good freelancer and they as the client can conduct due diligence to make sure that they are not disappointed.
It can be easy to get less than satisfactory work unless you take steps to ensure quality.
Rather than go into all that (it is a more detailed process than what I can cover in this short blog post), I'll just add some general tips when and if you decide to go down this road.
I say when because over time, as you start to grow your business, you may NOT be able to not afford one (tongue twister!)...
First...
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Crunch the Numbers...
You may be thinking that you shouldn’t outsource because you can’t afford it.
But if you run the numbers (I am talking cost here) and crunch them a bit, you may very well be surprised to find out that it costs you more to do the work yourself.
Let me expand on that…
I think you would agree that your time is one of your most valuable assets. Every moment that passes is one less moment on this planet.
So when you do all the work yourself, you are paying a cost - a time cost. It is not free...
So tell me, how much is your time worth per hour?
Maybe you’ve never really given it much thought, but let's take a moment right now and figure it out…
First, set a goal for how much money you want to make this coming year (A great time to go through this exercise as we start 2022).
Do you want to make $50,000? $100,000? More? Whatever it is, write that number down on some paper and we'll move on to the next step.
Your second step is to figure out how many hours you are willing to work to achieve that earnings goal.
Can you do 40 hours per week and keep that up for 50 weeks per year?
If so, you are looking at spending 2000 hours to achieve your earnings goal...
Perhaps you don’t want to work that many hours or that hard. A more realistic number of hours might be 1000 hours per year.
This way you are giving yourself more free time to enjoy life and do other things with your family, your loved ones, or for yourself
Note:
There are no right or wrong figures for the numbers you plug in here...
You select the numbers that best suit your unique situation and your goals and lifestyle
Do try to be real with yourself and be willing to stick with the numbers and figures...
The third step is to calculate what your time is worth on a per-hour basis.
Take your income goal and divide it by the number of hours you intend to work in the coming year.
Easy right?
As an example, say you want to make $100,000 in the coming year, and you will work a total of 1500 hours over the year.
Simply take 100,000 and divide it by 1500, and the result is that your time is worth $66.66 per hour..
Remember, that’s just an example – you need to plug in your own numbers as your situation dictates..
Your next step: Figure out how much it costs you to create your content, to create a product or service, or to complete a task.
You can do this for any area in your business operation, and then determine the real cost to you when you do it yourself.
Let’s look at content creation...Suppose it takes you 10 hours a week. At $66.66 per hour, it costs you $666 per week to do it yourself.
Over a month the cost is $1998.
Now go do a little research to see what a good freelancer will cost.
There’s a very good chance you can find someone who can do it at less cost AND likely do it better than you can because that is all they do.
Maybe with some due diligence, you find someone who’ll do the job of content creation for you for $800 - $1000 per month.
That frees up your time to work on high-value tasks that will help you grow your business faster.
The point here is this: Sometimes it’s not a question of the expense to outsource…
In the bigger picture (to achieve that income goal) you can’t afford to do it yourself!
Wait, there's more to consider too...
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It Is Time To "Let Go Of the Reins"
If you have been doing everything yourself, it can be tough to let go a bit and trust others to do the tasks you have a standard for...
One criticism I hear a lot is that the freelancers never get it completely right, many edits are required to get a product that meets the client's standard.
So, is your freelancer going to complete a task just exactly the way you would have done it?
Nope, that is not going to happen. Of course not.
Even if that freelancer is VERY good, they are not going to create content exactly as you would.
Guess what?
That’s okay.
So If you want outsourcing to really work for you, I want to be clear that you need to be willing to let go of the reins (control) just a bit.
Of course, you don't need to settle for subpar results either. That is not what I am getting at...
It means you stop being a control freak and set some targets that allow the freelancer to work magic using their skills.
You might be pleasantly surprised at what you get.
Even if what is created is not exactly the way you would have done it.
And lastly…
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Seek Out The Freelancer That Cares
Over and above the skill level of a freelancer, you need to look for ones that actually are concerned with you, the client. Many are skilled but lack that trait. You are just a number to them, and it will cause problems maybe. Not all of them are good fits for your business.
Here’s what I think you need to look for when you consider adding outsourcing and freelancers to your workflow…
Find someone who cares about your business not just their business. That person will be eager to do a good job for you. They need to have passion for what they do that exceeds their interest in a paycheck.
If you just browse through sites like Fiverr and scroll through portfolios you are going to miss this aspect. I think in most cases, you’re going to need to talk to the person, either via a phone call, a video conference, or worst case, via messaging (i.e. WhatsApp).
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Bottom Line:
Good work upfront is essential to make the freelancer and outsourcing process work for you and your business. It can seem like extra work for you and maybe it is something you think you cannot afford.
But looking at it from the perspective of the cost per hour for you to create content, or create products or services, or to have someone take care of another area of your business such as social marketing or bookkeeping, etc. it can make sense.
Especially if you want to get out of the weeds of the daily tasks and move to a perspective where you are leading and guiding the business to the level of income that you plan to reach over the coming year.
Especially if you want a chance of really achieving those numbers you are setting for yourself over the coming year in earnings, consider this tactic. If you are not serious about achieving the goals then disregard this post and advice.
But if you ARE serious and are willing to put in the effort as you plan your next years of business activity, and you do want to achieve that far-off goal (right now anyway), then I urge you to consider outsourcing.
Think about it and let me know what your plans are for outsourcing if you have any, and why not if you are not planning to do so, please. I know that for me, I can't afford NOT to outsource!
Cheers!
Coach Dave : ).
Recent Comments
27
I've been outsourcing for a year now Dave and I have a great copywriter.
I did have to learn to guide and give up the reins as you suggested.
Lily 😁🎶
Hi, Lily!
Good to hear that you are doing outsourcing. Yes indeed, it can be hard to back off a little, I had the same experiences. I also had some bad apples that turned me off the whole thing but stuck with it until I got my own side straight and also found some reliable freelancers that worked....
Cheers!
Dave : )
I'm saving this one, Dave! I'm not in a position to do this right now, but this will come in handy in the future!
Jeff
Hi, Jeff...
I think many people probably are in the same position, and that is okay...
When the time comes, and your business is starting to take off, this is one way to leverage the power you have...
Other things that can grow the business are:
(1) Selling physical or maybe digital products in the niche you are succeeding in,
(2) Offering some courses using the knowledge you have gained, coaching, or
(3) Hosting either a summit or seminar on or offline and charging a fee to attendees. or even
(4) Starting a membership site where you drip feed content that people in the niche would be willing to pay a monthly fee for...
(5) Starting a podcast and over time monetizing it as you raise your internet "footprint."
(6) Creating a YouTube channel and over time monetizing it through ads, product promotions, interviewing guests who are well known in the niche, and commissions from products you promote, or lastly (there are more ways too but this is enough for now!)
(7) Writing a book about your experiences in the niche and selling it on KDP (Kindle Direct Publishing). Make it a bestseller, and you can use that fact (even if for a day!) for a lifetime (think authority, social proof, trust, etc.)...
In all cases above, you are creating additional revenue streams and essentially some of the work you have done already is helping kick the new streams off the ground...
Of course, the initial stage has to be in place, as in you need to have the cash available to make some of these moves, including outsourcing.
If you are trying to do it all yourself, it probably is not going to happen. There are only so many hours in a day, and you do want a life outside of work...
So as you grow the foundational business, and start earning more, plan on using some of the additional income for investing back into the business, i.e. outsourcing...
Results (if done right) can be using outsourcing are that you end up having the time to develop these additional streams of income because you are not bogged down in daily tasks that someone else could do just as well as you could (or nearly as well)...
It requires a shift in the way you approach the business you are building, and some may not even want to go in the scaling up direction, and that too is okay...
It also takes time and a clear vision of where you want to go and how you will get there. Of course, also adjusting your approach as may be indicated is also a good idea...
Cheers!
Dave : )
Right now, Dave, 1), 6), and 7) would work best for me since I don't do Affiliate Marketing! I am building a Woocommerce Site, I 've had an eBay store since 2004 (which I may or may not keep), and I have written a great many books which are on KDP--the crown jewel of those being my 15 book Historical Science fiction series with a sequel series now underway!
Excellent advice, my friend!
Jeff
You are on it, Jeff! Congrats on the books, I have some low content books on KDP and will add to them next year (as in next week!)...
Cheers dude!
Dave : )
Cheers, Dave! I even got that first series done as a print on demand paperback version too!
It make me a very small bit of money, but it was so satisfying fulfilling a life-long dream, and when I get to promoting it harder, it can only go up from there!
Jeff
That is so cool! All y stuff to date is simple low content planners, they coincide with the courses we teach students reference getting started (using a monthly planner to get organized and be productive...Nothing on the order like what you have put together!
I am sure that with promotion the series would take off. Science fiction is a good genre, I used to read books like there was no tomorrow as a kid, and even as an adult - once my eyes started going bad, it tapered off...
Cheers and best of luck with this! Five thumbs up!
Dave : )
I understand the message, but for someone just starting out the cost may be prohibitive. Guest blogging is an alternative to those individuals until they get some traction in their business.
A great post for those who want and can afford to scale up.
Stephen
I totally agree, Stephen...This strategy works when it is time. The exact moment will be different for each person, depending on the status of the business and their comfort level...
As a planner (always have been), I like to look ahead and play out different scenarios and possible outcomes. Most certainly initial steps have to be to grow the business to the point that it can afford to take on the expenses of outsourcing.
In looking ahead and planning, I would evaluate where I am at the moment and at what point I could afford to go in the outsourcing direction.
Also, I would want to look at the cost versus the expected benefits. How much would outsourcing add to the bottom line and what would be the return on investment (ROI)?
Then to get to that point I would develop a strategy to build the income level of the business to the point where this next step makes sense.
Thanks for your input, good discussion on a subject too often misunderstood by many...
Cheers!
Dave : )
Outsourcing is a great idea. However, I always feel I might not get a good result.
Therefore, I will bookmark this post for later reference.
Thank you, Dave.
Hi, Muslmmah...
It can be easy NOT to get a good result if careful planning and checking out the freelancers to see which might be a good fit for your requirement.
I have a feeling that most people do not get what they expect (yet the sites like Fiverr, UpWork, etc. are doing quite well). It is not an easy decision to go in this direction, I think.
But to achieve the targets you may set for yourself and your business, it is an option to enable scaling up and the cost is less than trying to do it all yourself (I know I can't!)...
I do appreciate your popping through and adding in your feedback. There are likely many people that feel the same as you do. Maybe this can trigger something in some people here to at least look at this tactic...
Cheers and have a safe and happy New Year's Eve!
Dave : )
See more comments
If you want to be rich you have to outsource. You HAVE TO!
It's impossible to have the time needed to take care alone of a millionaire company.
It's impossible to have all the knowledge needed to keep a very profitable business do-it-yourself, diy, type.
Even if you win a millions lottery or get that kind of inheritance, to keep the money flowing you have to outsource investment handling.
But, outsourcing could be a science in itself, like other have commented here. Reliable freelancers are very difficult to find and keep. And the best one have high costs, but, really, low costs comparing for cheap work of lower costs freelancers.
Outsourcing involve a lot of things: content writing, website security (extremely important), website maintenance, advertising, reliable hosting (like WA), resources research, keyword research, etc, etc,,,
I have had a lot of not so desirable outsourcing experiences.
One very important is website security, have lost websites because of this, and website maintenance.
After 5 years being a free WA member, testing grounds, decided to go premium paying the annual fee.
I am outsourcing my websites' hosting, security, backups and partial website maintenance to WA.
Have read a few outsourcing guides. The authors apparently, have a curious behavior. They don't give out the resources that they constantly use, they recommend and provide links to freelancers that they have researched but don't use or that use occasionally. ????
It is very important to carefully read all the printed and "fine print" on a service contract and the terms of service section.
You must completely understand what that contract says before signing it. I lost $4,000.oo by signing a contract without completely understanding it to the word.
Would like to have the link to your outsourcing training.