How do you save time in business and increase your profit? Outsource.
How many times have you spent hours, yes hours fiddling with spreadsheets or trying to upload a photo on social media? (I made this mistake over and over again) In business we should focus on tasks that generate income to the business and outsource the rest. I know that’s quite a broad statement, but think about it.
If you bill $100 an hour and you can get a simple tasks done for $25 an hour by outsourcing it, you should keep billing (seeing clients) and outsource the task. Giving you a total profit of $75 plus. How did I come to the value of $75 plus…. You gained $100 (servicing clients), you spent $25 (outsourcing task) and the plus is, you got your task done and you serviced a client that may refer friends and family to see you, giving you an ongoing revenue stream
5 Reasons to Outsource
- Improved efficiency in the workplace
With more tasks outsourced from the business, staff members can focus on their core tasks, whether it’s administration or practical skills and increase revenue
- More time with loved ones
When you finish working on your core business (your main skill) you will then have more time to spend at home or enjoying your passions outside of work
- Increased Revenue
Like the example above, each time you outsource a task that costs less to do per hour than what you bill per hour, you will make money and increase productivity
- Less stress
No more fiddling with spreadsheets or social media, all you need is a weekly report on what’s happening, leave payroll, tax, social media, printing, etc to the experts
- Focus on your core skill
Do what you love to do, servicing your clients to the highest possible standard, rather than worrying about websites, emails not sending or tax returns.
When starting to outsource tasks, start with something small so you can get comfortable with the idea. Two of the best online sites I’ve used for outsourcing are Fiveer and Upwork. I would also talk to local printers, book keepers and IT companies to check their prices and what they could offer you. To increase revenue and save time -Outsource. To find out how PracticeNav can help please email email@example.com or take our Free business audit. Also feel free to share your experience of how outsourcing helped your business.