Profit Secret #8 is all about creative staffing with an effective Outsourcing strategy!
This week we dive into the topic of outsourcing to discuss why this is a growing trend for businesses and why this is leading to greater levels of profitability. But truthfully speaking, no strategy is 100% risk-free, so we will also discuss the pros and cons.
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Episode Show Notes :
Outsourcing is all about finding a creative way to solve your workforce issues.
What is outsourcing - hiring someone or a company to perform a task or manage a responsibility to support your company
Major points:
Outsourcing is not for everyone - if you are super controlling or a micro-manager this is not for you
Outsourcing requires you to function in a predictable way
Processes need to be clear
Documentation needs to be available
Outsourcing requires patience - for some strange reason we forgot how patient we have to be with in-person employees and somehow we lose that same sense of patience when the person is remote
Outsourcing can be in person or remote
In-person you hire a contractor that works with you
Your hire a person that works elsewhere
Benefits of outsourcing:
Cashflow
Cost vs hiring internally
Expertise - you don’t have the time to train someone internally
Follow the money:
TV screens at Gas Stations -Â
why is this happening,Â
who really stays to watch that,Â
is there a business reason for this?
Is there a lesson that I can use to work in my own business -Â
Screen space - the world is visual and audio
People want entertainment
Advertising dollars