Businesses of all sizes are always looking for creative ways to accomplish more of their business goals while using less resources, i.e. money. It might seem obvious but everything you do is an investment in time. When you watch television, you’re making an investment in entertainment. If you watch a show that is terrible, you’ve made a bad investment and receive a poor return for your time. In many ways time is more valuable than money. You will always have the opportunity to make more money, but once time has been spent it’s gone forever. When you think of time as a commodity, and all of your actions as investments, it changes the way you approach every day decisions. One of the pitfalls of business ownership is being drawn into the vortex of “working in” the business rather than “working on” the business. With each decision, ask yourself, is this a value proposition of my time or can someone else do this while I attend to more valuable activities? Remember, time is money and your time is very valuable.
Are you bogged down with administrative work, social media, or web marketing? A virtual administrator can help you accomplish those tasks, saving you time and improving your ROI. Some virtual administrators are quick books certified which means in addition to handling the administrative work they can also handle the bookkeeping, typically for less than what a bookkeeper will charge.
As important as time is as a commodity, so is Knowledge. Knowledge is power. Unfortunately, smaller businesses may not have the bandwidth or resources to have access to hiring the knowledge and experience they need. Or perhaps, the need is not a full time need but rather a consultative one. Outsourcing can provide access to top-notch expertise at any time without the overhead of hiring full-time staff. By staying focused on your business and hiring expert freelancers for your other needs, you can focus on growing your business. For many businesses, using support and supplemental services, ie. outsourcing is a winning strategy.