Outsourcing 101
Outsourcing is the business practice of contracting with an outside party to take care of specific tasks instead of hiring new employees or assigning those tasks to staff. It's a popular way for businesses to lower costs, ensure work quality, and streamline operations while tackling important functions.
Time is your most valuable asset. Depending on how you allocate it will affect your quality of work and your business. You only have x amount of hours in a day, and spreading yourself too thin trying to do every single task will result in one or more functions with subpar results.
Now step that up to tasks, responsibilities, and roles that are on another level, such as creating a website, data management, running ads, digital marketing, etc. It is crucial to understand you need to hire outside help.
If you’re too busy with other aspects of the business
You’re not informed or lack the skill
You lose money doing it yourself
Causing unnecessary stress
You want to achieve the high standards that clients look for. It will free up your time and ensure the work associated with your brand that requires your undivided attention is prioritized. Not saying you’re not capable of completing these tasks, but trying to do everything yourself will lead to diminishing results in quality and revenue and create doubt in your future clients’ perception of you and your business. No one wants that.
Some people need help trusting an outside individual or service with important business responsibilities. If that is you, it is understandable; your brand is your identity, and it's natural to be hesitant when hiring. However, the data shows successful entrepreneurs outsource. They know their weaknesses. So focus on your strengths and find help through outsourcing to improve where you need it the most. Here are a few things to look for when searching for a reliable service.
How long has the company been on the market
The quality and success of projects they’ve made
Their online presence
Feedback from their current and past clients
A recent study conducted by Real Trends found that agents who outsource their professional listing photography yielded two times higher commissions than those who didn't. So hiring a professional is worth it. The difference is night and day, and your clients will notice. On average, a photo shoot after travel time, editing photos, social media clips, and exporting is close to 5-6 hours per listing. Multiply by however many you have, and you would be working a part-time job with the number of hours you put in. That's an example of outsourcing something that, although you are capable of doing, the ROI on time, money, and quality of work is not worth it if you do it yourself. On the other hand, you can dedicate all those days to working on leads, finding your next client, and closing more deals.
What are your weaknesses? Where are you wasting time? Write them down, and brainstorm with your coworkers. Find the cracks in your business where revenue and time are lost, whether that is your marketing, email campaigns, or sales pitch. Then, see what you can fix internally and what you need outside help with. This will make you stand out from everyone around you and drastically improve your business.
Time is your most valuable asset, know when to ask for a helping hand.
