You have heard a lot about how your competitors are outsourcing their processes and maximizing their returns but you don’t know how to outsource for big profits. You badly want to lower your cost of production and stay competitive in the market but how do you do it? What do you outsource and what you don’t? Here’s your guide that can help you in your decision making process:
But, first you need to know what outsourcing means. It means hiring human resources and services outside the domain of your business to have your work done in bulk and at a lower cost. It is a reliable and profitable option when:
A. There is a lack of work force or skills for undertaking the process in your organization
B. High costs are involved in the region where you run your business
C. When you are planning to go global
D. The particular process is not your core competency (Eg. A bank’s core competency is in handling money, depositing it, investing it and lending it but surely not making sales calls. So the bank appoints a Business Process Outsourcing company, which specializes in making telesales. This way it minimizes its costs of setting up a Tele Calling team and functions more effectively by getting professional help.)
Why Outsourcing is a rage with moneymakers in modern times
Outsourcing is an incomparable opportunity to generate business in leaps and bounds across the globe. You can extend the horizon of your business from domestic to international levels by outsourcing projects to overseas markets and paying for it. For example in the IT services industry, you may slave away to complete designing one website for $5,000 and bag a profit of $2,000 a week. By taking recourse to outsourcing, you can get three sites done and earn $6,000 a week. Outsourcing in brief, helps you multiply your business and pile on profits. Leveraging is the key to outsource for big profits.
What makes a millionaire of you is leveraging. Charging $100 for an hour of your business, you earn $4,000 a week by working alone eight hour a day, five days a week. If you take projects in bulk and outsource them to others by paying them $50 per hour, you can make profits in profusion.
A particular project may require the services and skills of a designer, a programmer, a search engine optimizer and a writer. You may not necessarily possess all these skills to meet the needs of a client. If you are a web designer, you can outsource the project to a writer and a programmer to be done with it finally by paying them a part of the profit that you make. If the service of a copywriter is your need to give a final touch to a project, you can have it by pitching just the writing job to a content writer. Therefore, outsourcing is a means to not only make a heap of money but also earn kudos from your clients because they find you to be a “one stop solution” to all their needs.
If you are set to embark on a new venture, you can think of outsourcing business simply because it is cost effective and time saving. You can earn many times more than what you invest in this field.
A. Karmakar is a successful writer and runs a Content Development Company with a worldwide clientele. You can visit Content Writers Organization to know more.
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Secrets to Outsourcing Your Online Business.
The most effective way to grow your online profits and get things moving quicker with your business is to outsource. But don’t just outsource your online business tasks for the sure hell of it. Get ready and prepare yourself. I will discuss how to plan and approach your outsourcing properly so that you gain the maximum benefit from your team of freelancers.
Here is what you need to prepare:
– Determine the tasks that can be outsourced and which ones you don’t like.
– Have a manual which contains the details of the task you want done.
– Know how to hire a good freelancer for your needs.
– Have a plan on how the outsourcing team will work together with your job to give you the maximum benefit.
1. Determining Tasks
Get a list of tasks which you want to outsource. Think carefully here. There may be tasks which you want to do yourself such as paying your affiliates, posting to your blog, communicating with other business owners etc…Get tasks outsourced that are taking a lot of your time, things you cannot do well and items which depresses you such as customer support or writing an eBook. With the list of definite tasks you want to outsource, you can move on to step 2.
2. Creating a manual
At the start of your online business, you will be doing everything yourself such as writing articles, writing ebooks, creating videos, website and marketing material. Make sure that you note down all the steps when you do each task. Record them in a step by step manner so that you will know exactly what to do, the next time you do the task again. With this manual, you can give parts of it to your freelancer so that they know exactly how you do things and meet your requirements. It’s a good idea to capture what you do on screen as added documentation. You can achieve this by using free desktop recording software such as CamStudio.
3. Know how and who to hire
This part is simple when you have determined who you want to hire and have the operation manual in hand. When you interview the freelancer, ask them to do certain tasks such as creating a demo video, or writing a specific article. Your objective is to test their technical skills, writing skills and communication – depending on the task you want to hire them for. Make a special effort to hire someone who communicates well. If they have a problem, at least they can explain it to you clearly either by email or on the phone.
4. Integrating with your job
Before you hire the freelancer, make sure you have a plan of how you will work with the freelancer. For example, if you have a new product idea, you would pass it on to your freelancing team and you would work on the marketing yourself.
After the freelancer has completed the product, you can review the product and also pass them your marketing material for proofreading. Make sure that your tasks don’t overlap and that you are not outsourcing unnecessarily. The right time to start outsourcing a team is when you are starting to make money online and know that by leveraging off the freelancers’ work, you can grow your business faster.
Another situation you should outsource is when you’re really weak at doing certain tasks such as writing an ebook, creating website graphics and writing good sales copy. Hire a freelance writer or a designer to do these tasks for you right away because they will save you time and deliver quality for your business.
Outsource your eBook, articles, website design and marketing to professional freelance writers.
Download a report on how to build a 6 figure online business at create information products – Alan Cheng, Elite Ghostwriters.
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