This Cost-Saving Strategy Can Help You Build A Better Business

By now, I’m sure you’ll be aware of the many benefits of this strategy, but have you ever thought about how it can actually make you money too?

Photo: Lyndsey Gilchrist, Glasgow, Scotland-based Online Business Manager; Source: Courtesy Photo
Photo: Lyndsey Gilchrist, Glasgow, Scotland-based Online Business Manager; Source: Courtesy Photo

Have you read Tim Ferriss’s book, The 4-Hour Work Week? If you haven’t, the book is all about outsourcing your business and your life so that you’re free to do whatever you want and still make an enviable income.

As well as delegation, Tim also tackles the concept of having systems, autoresponders and procedures in place to limit the amount of time you physically need to spend on your business.

It’s a fantastic idea, isn’t it?

By now, I’m sure you’ll be aware of the many benefits of outsourcing (it’s been a pretty hot topic over the past few years). But have you ever thought about how it can actually make you money too?

Well, it can. Here’s how.

 

  1. Outsourcing frees up your time to make money.

    If you have a core list of tasks that you hate doing (i.e., they take you too long, or frankly you’re not very good at them) then outsource them to the experts. You’re an expert in your field, so why spend your valuable time trying to muddle your way through every entrepreneurial task on your list? Handing important jobs over to copywriters, web designers, social media experts and online business managers doubles your productivity and frees up your time. If you use this newfound time wisely, you can spend it on making money.

  2. Outsourcing prevents you from leaving money on the table.

    If you can tag an additional service or product onto what you already offer, you’re not going to leave money on the table when your sales cycle comes to its natural end. Say, for example, you’re a proofreader who works with independent authors. Once you’ve proofread their manuscripts, their next question is going to be, ‘I want to get published on Amazon Kindle. Can you help me with that, too?’ They already know, like and trust you, so you’ve already got a foot in the door. Find someone who can do a great job for you, add your fee to the final invoice and presto! Now you’ve created yourself a new self-publishing package.

  3. Outsourcing means you can literally be productive 24 hours a day.

    For example, finding a virtual assistant who lives on the opposite side of the world can make you money. If you’re a service provider who frequently works to deadlines, for example, you can hand your outstanding tasks to a VA or online business manager when your working day is over. Knowing that someone is handling your work, while you sleep, and that the completed task will be in your inbox when you wake up is a wonderful feeling. It also gives you the opportunity to take on more clients and make more money because you know that between you and your freelancers, you can accomplish much more around the clock.

  4. Outsourcing paves the way for new ideas.

    When your mind is clutter-free, money-making ideas will brew. It’s true. If you aren’t bogged down by all of the everyday tasks you have to wade through in your business, your mind space is much freer. When you go for a walk, for example, and you’re away from your desk and the phone and the emails, how many ideas pop into your head? It’s the same when someone’s tackling your to-do list; it leaves you free to think about new products and services, business development strategies and long-term plans, which can all be aligned with making you more money.

What are your experiences with outsourcing? Share them in the comments below.

 

This article has been edited and condensed.

Lyndsey Gilchrist is an online business manager (OBM) based in Glasgow, Scotland. She has a vast amount of entrepreneurial experience, which she uses to support all kinds of different businesses. She likes nothing more than helping clients to move their business forward and help them to increase productivity. If you haven’t thought of outsourcing before and you’d like to sample just how easy it can be, get in touch with me either via my website or book yourself in for a no-obligation call here. Connect with @lyndseyobm on Twitter.

 

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