A friend of mine recently had a dilemma that I’d like to share with you for its educational value. He is not a graphic designer but he has an eye for art and has the Adobe Photoshop suite installed on his laptop. One afternoon he mentioned to me, quite frustrated, that he had spent every evening of the past week trying to come up with a design for the new logo for his copywriting business with no success. By his estimation he had spent upwards of 10 hours struggling with the design and he still did not have a logo.
“Why don’t you pay someone to do it?” I asked. It seemed obvious to me as I have no artistic bone in my body and couldn’t fathom designing my own logo. But for my friend who had enough knowledge and design ‘know-how’ to bolster his confidence there was no other way.
As a result of this thinking, my friend had spent ten billable hours fumbling over a design. If he had outsourced the work, what he could have achieved in ten hours would have been worth more than it would’ve cost him to outsource the logo design.
In the end I recommended Fiverr and two days later he had a logo.
What exactly is ‘Outsourcing’? Margaret Rouse defines Outsourcing as an arrangement in which one company provides services for another company that could also be or usually have been provided in-house.
This is a problem that many of us face as business owners. We sometimes forget that time is money. We tend to mistake a cursory knowledge of an area as sufficient knowledge to embark on a DIY project.
. If you’re not a writer, outsource your website copy; if you’re not a designer, outsource your logo design; if you can’t manage your schedule and take all your calls, hire a virtual assistant. What you save in time will undoubtedly result in additional income.
A good example is an events management business. You have a wedding to arrange. You need to sit with your client to agree the type of event they want you to deliver on their behalf. You agree a date, guest list and seating arrangement, church or registry bookings. You fix the food menu, book the venue, arrange for the venue to be decorated, agree seating arrangements, organise flowers. Then of course there are the arrangement/layout, hire public address systems, screens, projectors, food, canapes, drinks…. The list is endless. Now as an events manager, there is a very high probability that most of the tasks you need to fulfil will have to be outsourced to third parties.
You cannot be a master of all of these areas and chances are that you will not have the expertise in house for all of the services needed to deliver a top notch event. Hence you outsource!
The questions I often get asked are –
Where you start from depends on the type of the tasks you intend to outsource. I couldn’t possibly cover every conceivable typeof task on this post. However, there are so many platforms for outsourcing work. I use a number of them in my work. These include, but are not limited to the following:
In deciding whether to outsource, it’s best to think through the following:
You then need to
Question: Do you know of any other way that outsourcing can benefit business that I haven’t mentioned? Please share your thoughts by leaving your comments below or on my facebook page. I very much look forward to hearing from you
Hi, I’m Soji Fagade. I am an entrepreneur and I just love everything (well almost everything) about business. In terms of formal education, I earned bachelors degrees in Sociology and Law. I practiced as a solicitor for a while, but I have always been involved in business. While in University a friend and I ran a business that manufactured hand crafted door name plaques and wooden children's toys. In the early stages of my legal career with Harkavys - a London firm of solicitors, I walked away to run Sabo Foods – an exotic foods wholesale packaging and distribution business that I had founded a few years prior with my dear friend Goke. Together, Goke and I grew Sabo Foods into a thriving household name and brand within the industry. That business consistently generated millions of pounds in revenue for years. This accomplishment of starting a business from the ground up and turning it into a success that remained operational for nearly twenty years was not without its challenges, many of which we overcame through dedication, passion and simple trial and error. Along the way I have provided business development and consultancy services to many small business owners who were stuck or simply uncertain what the next move should be. Through business coaching, strategic product development and team building exercises, I have successfully helped small businesses launch products and services, move forward with purpose toward brighter and more profitable futures.
You Haven’t Seen This Blog News Update List on Buzzfeed
Business Development Masterclass – Starting Your Year On A Sound Footing
Are You Being Penny Wise And Pound Foolish? -The Power of Outsourcing
SBLs 005: Soji’s Business Lessons Podcast Episode 5
SBL013: Soji’s Business Lessons Podcast Episode 13
SBLs 012: Soji’s Business Lessons Podcast Episode 12
SBLs 011: Soji’s Business Lessons Podcast Episode 11
SBLs 010: Soji’s Business Lessons Podcast Episode 10
SBLs 009: Soji’s Business Lessons Podcast Episode 9
SBLs 008: Soji’s Business Lessons Podcast Episode 8
Please log in again. The login page will open in a new window. After logging in you can close it and return to this page.