Episode 256: Essentials of the Modern Business – Outsourcing

Have you ever thought of taking your business around the world without even going out of your office? In a world where interconnectivity and communications are powering businesses, Outsourcing could be a game changer for most of us.

In the sixth installment of the Essentials of the Modern Business series, Adam Stott shares the importance of Outsourcing and how to turn it into an asset for your business. Adam talks about where you can find freelancers for you to outsource. Listen to learn more!

Show Highlights:

  • Importance of outsourcing in a modern business
  • How freelancing can help with your business
  • Running your business without full-time employees
  • Getting more things done through outsourcing

Start outsourcing employees from around the globe using Upwork and Fiverr

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Please note this is a verbatim transcription from the original audio and therefore may include some minor grammatical errors.

Adam Stott:

Hey everybody, and welcome back to another episode of Business Growth Secrets. You’re with your host, Adam Stott. Excited to be with you here again today. Big shout out to those podcast listeners that are coming back again and again. The stats are going crazy. People are loving the podcast, I just want to say a big thank you to all of you that have been supporting it and hopefully, getting tons and tons and tons of value from it, and we’re gonna keep delivering that value for you.

So we are here today continuing the 10 essentials of the modern business. And so far we have covered, if you haven’t already, you can go back and you can listen to the other episodes that we’ve done where talked about funnels, we’ve talked about list building, we’ve talked about social media ads, we’ve talked about creating a demonstration of power for your business, and we’ve really dive into these different subjects and hopefully you’re finding some immense value.

Today we’re gonna be talking about another one of the 10 essentials of the modern business, which I think’s really, really important, and I think this could be a game changer for some of you that are listening right now. And today’s subject is outsourcing. So let’s jump into outsourcing and how that can power up your.

So why is outsourcing so important for a modern business? And I feel that this is something that a lot of people miss a trick with in a big, big, big, big way. So you can really, really start to leverage outsourcing in a way that we’ve never been able to leverage before. Right now we have these big, big, big connected world that we live in, where we can work with people all over the world.

We can connect with people all over the world. We can pay people for services all over the world. And there are a lot of people with everything that we’ve been through over the last few years that wanna work from home, that are working from home, that are working and outsourcing and freelancing. And freelancing in the United States is one of the biggest growing professions actually. A lot of people don’t realize that it’s a massive, massive thing. And it’s something that if I’m really, you know, straight in the beginning, I didn’t like it, and I’ll tell you why I didn’t like it, and I’ll tell you why my mind has changed and why we use it so much now.

Previously in the beginning, I always liked to be able to go and have a chat with my people to be able to sit in front of them, to give them guidance, to give them direction, and really spend time with them in that way in order to grow their performances. But what I’ve found is that when it comes to specialized skill sets, many people now offer their services and these types of services really can be fractionalized on the cost. So as a business owner, And of course I’m expecting if you’re listening, you are a business owner right now.

Well, that’s at least what you’re aspiring to be being that you’re listening to business growth secrets, right? And you are going on that journey. When you first start off as a business owner, you have a certain set of skills and that certain set of skills you have doesn’t encompass everything. So you might be a great salesperson or you might be a great marketer, or perhaps you’re great at finance and accounting, but what you’ll find is despite having a special set of skills that you’ve got when it comes to business, you probably haven’t got all the other skills that complement it.

And really here you’ve got two choices. We actually got three choices. Choice number one, you go and learn the skills. They say you have no idea about finance, you have no idea about accounting, you have no idea about numbers. You can go and learn that, and you can educate yourself. And I’m a big believer that you should do that, right? You need some baseline education if you’re gonna be a super successful business owner. Say you hate sales, maybe you know accounting, but you hate sales. Well you’re always gonna be selling in your business. You’re gonna be selling your ideas, you’re gonna be selling your vision. You’re gonna be selling to your employees, you’re gonna be selling to investors. And you’re gonna be selling to suppliers. You’re always gonna be selling.

So that’s a skill set you need to learn, right? Say that you are good at sales, but not marketing, then that’s another skillset that you’re gonna need to learn. However, we can also leverage the power of other people and not have to hire people fulltime in your business. That affects your cash flow and instead start to outsource some of the things that you want done.

Maybe you’ve gone off and you’ve tried to build funnel from the last episode. Or perhaps you’ve been building the list. Or you’ve been looking at different softwares and things that you can use, and you’ve hit a few brick walls. You’re not a hundred percent sure how to do this, how to do that. All of a sudden that means that you’re folding off and you’ve not made that progress. Where outsourcing can come in is you can hire somebody for their certain set of skills and use them short term to bring in to your business to get things set up.

So for example, you could hire a funnel builder to go and get that funnel done for you. You could hire somebody to go and get your list set up for you. You could hire somebody to do some VA-ing for you to call back some of your clients. To improve your sales, to get your follow up process in place. Right now, there are sites and software that you can use all over that connect you worldwide to talented people. You know, you can use things like Upwork, where people list their set of skills. They list it with a rate that you can pay and you can go and hire that person to come and do a little bit of work in your business to give you a lot of progress quickly.

It’s not gonna cost you the earth, It’s gonna get you started quicker. It’s gonna get tasks finished quicker, and it means you don’t have to hire people full time, which is pretty cool. And I’ll tell you exactly why I like it and love it in a minute. But there’s also other sites and one that we love is onlinejobs.ph, because we use this to hire freelancers and we use it to hire people in the Philippines that are fantastic people, that are hard workers, that really want to impress and do a great job for you.

And they can do things like design for you, all different types of things for you, which is really, really cool. You can also use things traditionally, which are a bit cheaper, things like Fiverr to go and outsource and hire people to get stuff done for you, which is just a cool way of getting things done quicker, getting tasks done quicker.

But let me tell you why. I’m a big believer in this and I give you a bit . More of a strategy around it to understand. As a business owner, you only have eight hours in a day. Let’s say you’re a crazy hard worker and you work 12 hours a day, which you shouldn’t be doing, right? You know, you’ve gotta protect your time a little bit and bring that down.

Let’s say you’re working long hours, and in those long hours, you are gonna hit a cap of the amount of productivity that you can reach. When you hire other people, let’s say you’ve got your eight hours in a day and you bring somebody in to do a day’s work for you, freelance or outsourced, you go from having eight hours to now having 16 hours in that given day, which means you get a ton more done.

So when you start leveraging the power of other people and helping you get stuff done quicker, you start to grow. And if you’re a smart business owner, the people that you bring in are gonna add skill sets in one of the following areas. It’s only really three types of activities that grow business. One is marketing. You improve your marketing, ie. Get your conversations going, and you really improve your offers in your marketing, that means that you’re gonna get out to more people.

So if you’ve got eight hours to do that and you’ve got other things to do, means that you get sucked down to having one hour a day on your marketing. Your business isn’t growing. You go and hire somebody for a day or for, you know, does a couple of hours a day for you. All of a sudden you go from having five hours a week for marking to two hours a day. So you’ve got 10 hours a week, now you’ve got 15 hours a week. You’ve leveraged time by getting that person in to help you and build your business.

So I think especially for a small business, this is something you should be. Because this is how you can improve your efficiencies. This is how you can get bigger. This is how you can get more done. But even a bigger business that’s got a marketing team right now should be looking at, Hey, you know, we’ve got a marketing team they’re great at ads. They’re great at funnels. They’re great at doing our website. Maybe they’re good at seo, they’re good at these different things. They’re good at ppc, but the design isn’t great. Well, hey, go and get an outsourced designer. That you can feed in to get things done for you and outsource for you.

That’d be pretty cool, wouldn’t it? Cause now you’ve got all the elements in your team, but you’ve added a designer that works in a couple of hours a day for you, and you’ve got that specialized skill set. You’ve made progress. There’s so many different reasons that outsourcing can make a big difference to your business.

It’s something you should be looking at. It’s definitely a first step for those early start businesses to be able to go and hire their first employee, you know, or even if it’s an outsource, their first person that’s helping them build the business. Just so you can get used to not doing everything yourself because hey, I’m sure there’s many of you on here right now that feel like you’re doing everything yourself. And the truth is you don’t have to and you have to, if you’re gonna grow a business, get in the mentality of bringing other people in to help you get more done.

So hopefully that’s been helpful for you today on the 10 Essentials of the Modern Business. Remember, 250 episodes like this on Spotify, on iTunes, on the adamstott.com website we’ve got the whole feed on there where you can go and feast on this type of information. We keep ’em short, 10, 15 minutes snippets to allow you to really take the lesson in and do something about it. In fact, we’ve seen our podcast listeners are growing again and again and again. The reviews are off the charts. If you get a chance to go and leave us a five star review. We really, we appreciate on one of those channels, some more people get this message. Big thank you today. Start looking at outsourcing cause it’s gonna be a powerful asset to your business.

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