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8. Should I Be Leveraging Outsourcing to Scale My Business?

Air Date:

Aug 8, 2022


42 Min

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 - 

  • why is this happening, 

  • who really stays to watch that, 

  • is there a business reason for this?

  • Is there a lesson that I can use to work in my own business - 

    • Screen space - the world is visual and audio

      • People want entertainment

    • Advertising dollars

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