Running a business is becoming more complex, and as a business coach juggling the growing demands of everyday tasks alongside doing the work that generates income can be difficult. With new technology and digital marketing, the more conventional methods of performing business operations are changing. Each of these changes requires a specific skill set.
The rising cost of running a business may also make it difficult for businesses of all sizes to manage cash flow and hit targets. Solutions usually include streamlining operations and minimising employee costs.
Business owners are therefore turning to the option of outsourcing, although for some this is a big decision.
- Finding the right person to outsource your work to can result in access to new resources. Hiring a new team member often requires expensive recruiting and training costs. You have to teach them your processes and you may have to invest in courses and development programmes so they have the right skills for your business. When you outsource, this cost in kept to a minimum as these individuals possess the skills and knowledge already.
- Outsourcing also allows the opportunity to access specialist knowledge, expertise, and experience that you possibly wouldn’t be able to afford if you were to hire a full-time employee at the same level. They’ll also keep themselves up to date with industry changes and trends, learn new techniques, and constantly develop their skills without a single cost to you.
- When you outsource, you’re not just gaining access to one person, but chances are you’ll have access to a network that has a wealth of knowledge in many areas. A Virtual Assistant, for example, works for several clients, so are often the perfect person to introduce opportunities as well as other services you can trust.
- It allows you to focus on your core business activities. It’s more efficient for you to spend your time doing what you’re good at – coaching your clients. For every hour you spend on the areas that you’re not so good at, or the areas that don’t provide the value is an hour you lose coaching your clients and bringing revenue into your business, and potentially even making a loss. By outsourcing the day-to-day administration tasks, you have more time to focus on generating income.
You’ll be surprised at how much more cost-effective it is to outsource everything but your core business activities. You’ll save money, avoid stress, and spend your energy working on things you enjoy.
- You only pay for what you need. Outsourcing allows you the flexibility to access support for the hours that you need. Whether it’s an hour a week or 8 hours a week, you pay for exactly what you use and this can be altered as and when you require. This also helps when it comes to budgeting. As many outsource companies such as Virtual Assistants work on an hourly basis or per project, you will agree the cost prior to any work commencing and can, therefore, budget for this.
Our biggest tip for anyone considering outsourcing is to find someone with the expertise that fits your needs. Here at The Umbrella Tree we specialise in helping coaches manage their business and with our expertise, we become an extension of your business flawlessly.
If you are thinking about outsourcing, get in touch at firstname.lastname@example.org or call on 07977 640119.