by Mike Gonsalves, StrategicFusion
Hardly! Outsourcing is as American as Mom and Apple Pie! A lot of people believe that outsourcing is the problem with America's economy today. For the most part they equate outsourcing with sending jobs overseas (off-shoring). The fact is that outsourcing started long ago when production lines where first formed to manufacture everything from nails for building to autos for driving.
Yes, outsourcing has gotten very sophisticated over the last decade or so. Yes, we are competing on a global scale for jobs, especially in certain sectors. But the fact remains that small businesses can help themselves grow and thrive by outsourcing tasks that are:
- Difficult to master quickly
- Better done by someone at a lower overall (more efficient) pay scale
For example, you can do your taxes yourself, or you can hire an accountant. I don't hire an accountant to add the numbers up for me on a form (Turbo Tax can do that just fine). I hire an accountant to make sure the numbers are in the right boxes, that's outsourcing. It would take me months (or years) to gain even the slightest competitive advantage on my accountant, so I rely on him and his firm to do the best job possible.
In another example, when you are thinking about moving your business, are you going to go to a commercial realtor an expert on getting the best deals in the market or are you going to wing it on your own? Wing it and the odds are strong that your new space will cost you more than if you had used a professional.
Think about it, we all outsource every day, whether it's educating our children, going to the gym, having our car repaired or eating out for lunch or dinner. We rely on the expertise of others to help us get through the day.
I can't tell you how many times I've sat with business owners, they might be educated as an engineer, doctor, lawyer or an architect, who will say to me, "well I can do that task myself, why do I need you?" My comeback is always the same, why would you pay $100 for something that can be easily had for $20? AND I'll give you a better result 99.999% of the time, guaranteed!
Think about the use of your time, it is your most valuable asset. We all get 24 hours in a day, that‘s it. Whether you are Warren Buffet or the person in the mirror, we are all limited by this. Winners in business, and in life, are very good at managing their 24 hours and they do this by focus and delegation. How else can you run a successful business, or anything else for that matter?
I just finished the book Outliers by Malcolm Gladwell. He makes a very good case that to be a true expert you need 10,000 hours of experience in your chosen field (Read the book for the details). Focus on the things you do well, and Outsource (delegate) the things you don't. You'll move forward faster with better results!
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