5 Pros and Cons of Outsourcing As An Entrepreneur
"Individually, we are one drop. Together, we are an ocean."
- Ryunosuke Satoro, Japanese writer and poet.
As you know, I'm all about the effect of a ripple. It only takes one drop to make a significant change in your business.
By outsourcing, you can have several ripples for maximized growth! But like the vast ocean, there are challenges to be mindful of.
Today, we'll go over the pros and cons of outsourcing for entrepreneurs.
Let's look at the pros of outsourcing first.
1. You Receive Expert Help
Outsourcing offers a major benefit by granting specialized help for services you may or may not know how to do yourself.
Lacking a vital skillset to run your business?
Outsourcing is an ideal solution. Whether it's for admin, taxes, payroll, content creation, IT, or otherwise, outsourcing can significantly increase the efficiency of your operations.
2. You Save Major Costs
Regular employees are great, but not too easy on your business' wallet. When you outsource, you can dodge expenses for employee training, and sidestep employee benefits such as healthcare coverage.
Plus, you only pay for the work you need with outsourced workers. According to one statistic, lower costs are the reason 70% of companies outsource!
Join the outsourcing trend and you'll have more money in your pocket to spend on other crucial areas in your business.
3. Tap Into A Global Talent Pool
Supporting local talent is wonderful, yet often limited. By outsourcing, you can expand your horizon for finding specialized help.
The global talent pool of outsourcing is a force to be reckoned with in the employment landscape.
My own outsourced talent comes from the Caribbean. Not only is she gifted at what she does, but she’s also making it easier and easier to imagine and plan out a tropical vacation in the near future!
Having said all that, there are a couple of things to look out for when you decide to outsource.
Let's dive into the cons of outsourcing.
4. Concerns With Communication
A common struggle when outsourcing is communication issues. Different time zones may make for sporadic interactions.
When you're drinking your morning coffee, your new virtual team member might be busy working on that blog or task assigned to them.
Lack of synchronization with an outsourced worker could also cause friction due to slow response times.
You can deal with these cons early by practicing … you guessed it! — Communication. Before tasks get underway, break down chosen communication platforms, individual availability, and boundaries as needed.
5. Quality And Trust
Another risk of sourcing is the quality of work could fall below your expectations. If you don't want to compromise on quality, it's important to clarify expectations beforehand.
You may also want to establish trust with your new outsourced team member — on both sides. After all, you're now sharing part of your business with someone else.
Make sure you each understand what you want out of the collaboration so you can both enjoy success!
Ready To Level Up Your Team-Building Tenacity?
Growth is as exciting as it is scary sometimes. If you're on the verge of outsourcing for your business needs, be sure to grab my FREE guide and check out these 3 must-have hiring strategies for building a kick-ass team here.
Once you and your team are making magic together, stay balanced with these innovative ideas for work-life balance among small teams!
Thank you so much for reading. I hope you enjoyed this blog post and I'll see you soon with another one!
Janic 💜
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