Self-employment, or running your own small business is a popular choice for a lot of people. One thing’s for sure, there’s a lot to do when everything is down to you. There will come a point where outsourcing is necessary in order to scale your business and take the pressure off you.
How will you know when it’s that time? Read on to see if any of the following sound familiar.
You Never Stop Working
Many people choose self-employment because they want to take control of their lives and have a better work life balance. If you’re finding yourself working long hours on a frequent basis, then it’s time to get help. Rather than spending your weekends sorting expenses and invoices, use a small business accountant to take on the work. Too much admin? Use a virtual assistant.
The Tasks Keep Piling Up
Not only does the to-do list never go down but it just keeps getting bigger. If you’re losing control of everything you need to get done, this isn’t a great way to run a business and you’ll end up burning out.
You Can’t Spend Time On Core Business Opportunities
If you are spending less and less time providing the actual service you sell, then this is going to effect your business in a critical way. Let’s say you offer business coaching services and the money you make is from one-on-one sessions with clients. However, because of admin, finances, lead generation and marketing tasks, you’re spending less billable hours with clients. Outsourcing those essential, but non-core tasks can let you get back to doing what you need to.
Not Outsourcing Is Costing You Money
An excessive workload can lead to a number of costly repercussions for your business. Firstly, you’re probably not getting things done, which means you can’t charge for it. Overwork can lead to mistakes too, which can cost you clients and your reputation.
If it gets to the point where you burn out or make yourself ill, then you won’t be able to work at all and your income can be affected while you recover.
Outsourcing various aspects of your business can be a gamechanger. Firstly, it allows you to access talent on-demand without having to recruit, train and pay permanent employees. Though the hourly costs are usually higher, the overall saving and value for money you get can be huge.
As you’re not an expert, using specialists can boost growth. For example, hiring a marketing specialist to handle your brand and social media can boost your reputation and attract new clients to your business. An accountant can ensure that you’re legally compliant with financial and tax legislation as well as being able to advise on the most tax efficient way to run your business.
A well planned outsourcing strategy can transform your life and your business. Finding experienced freelancers that fit in well with your business and your budget can take time, but is definitely worth it.