Ways to Justify Spending Money on Outsourcing
I came across this article that lists justifications on outsourcing expenses for business owners. Here are a few snippets that you might find interesting:
I learned long ago that I shouldn’t even attempt to do everything myself, and I value my time too much to hem and haw about delegation.
However, I know that a handful of you are still in the hemming and hawing phase yourselves, so I want to give you three solid reasons why you absolutely can justify the costs of outsourcing to contractors.
OUTSOURCING JUSTIFICATION #1: YOU CAN EARN MORE
Consider your current project backlog. How much more could you earn if you could make a serious dent in that list? Or even better, how much more could you earn if some of those projects could be delegated to skilled team members so YOU could focus on your highest-earning work?
OUTSOURCING JUSTIFICATION #2: YOU CAN USE YOUR TIME BETTER
If you can earn $197/hour coaching clients, why spend that hour doing tasks you can outsource to a freelancer for $30/hour?
Entrusting those $30/hour tasks to a fleet of reliable team members means you’ll have more hours in each day to tackle the work that is most valuable to your business. Even if you have to spend some time training your freelancers at first, you’ll still gain back precious time once they’re all up to speed.
OUTSOURCING JUSTIFICATION #3: IT’S AN INVESTMENT IN YOUR BUSINESS
I know that the whole “invest in your business” line is something that entrepreneurs hear an awful lot, but consider the return-on-investment: Say you pay $300 to a freelance writer to craft a report for you.
Even if you only sell if for $600, that’s still double! And since you’re likely to sell more than one of these products, you’ll continue to earn revenue off of that one-time investment of $300.
Check out the whole article here and feel free to share your thoughts with me. If you need further assistance on the topic, you can call me on 0488 548 854 or shoot me an email at firstname.lastname@example.org.