How To Outsource To Be More Profitable
As online business owners we often feel we need to do ALL the things in order for things to get done.
This is the fast lane to eventual burnout and it doesn’t have to be like this.
You can simply outsource different things to save time and get more done.
Now before you throw your hands up and say “well Steph, that would be great but my business doesn’t make enough money right now to do that” 🤷🏻♀️ let’s talk about it for a sec.
If you’ve been reading along with my posts for a while, you may remember me bringing up Pareto’s Principle. Quick refresh: It’s the 80/20 rule that states 20% of your efforts will drive in 80% of your results.
If you can hone in on what the 20% is that is causing 80% of your results, you can start to cut things out that aren’t providing any heavy value in your business. You’ll also be able to tell which things you can outsource so you can focus on the larger more valuable tasks.
For example, let’s say you are a business coach and you make $100 per 1 hour session with your clients but you have a laundry list of small tasks that keep you from booking more clients.
How would it feel to work with two more clients a month and not have to do those admin tasks that don’t light you up?
Would it be worth paying a virtual assistant to help you out for $100-$200 a month to take care of it for you so you can spend your time with your clients?
If you’re nodding along saying yasss, then know that it IS possible!
Fill up your time with what you enjoy and will drive you results. Then make a list of business tasks that you wouldn’t miss if someone else did them.
You can estimate how long it’ll take for someone to do these and create a detailed job description to hire a virtual assistant. You may only need someone for 10 hours a month to get all your tasks done once you write it all out.
Let’s use 10 hours a month as an example. By posting in Facebook groups or searching on websites such as Upwork you’ll be able to find candidates to be your virtual assistant. You can go about this two ways…
Provide a description of what exactly needs to be done and say you’re offering $15/hour for this list which should be around 10 hours per month— only costing you $150 to never have to do your admin work. I like the sound of that.
Remember, you’re going to free up more time to actually work with your clients so try not to get overwhelmed by the cost. You’ll now be spending your time making the money to cover that cost and doing what you really enjoy within your business.
A second way is to present your listing for a virtual assistant, is to instead of providing an hourly rate provide a stipend for the tasks to be completed. Rather than proposing the $15/hour and hoping they stay within your 10 hour estimate, you can offer $150 a month to complete the tasks.
This allows you to stay on budget and not have to worry if they go over your allotted time. Also, virtual assistants work at different speeds so you may find some who jump on this opportunity because they can get it done in 8 hours and to them it is a higher hourly breakdown for their time spent. It’s a win win on both ends.
Let’s take a look at the math of it all now.
You now have freed up 10 hours a month at the cost of $150. Using the same example as above, if you use all 10 hours to book more clients at your rate of $100/hour, you now generated $1,000 dollars. So in total you profited $850 when you factor in the coast of you virtual assistant.
Isn’t that awesome!?
You literally just got the tasks that you dread off you plate, took that time and spent it doing what you actually want to be doing AND made a profit on it!
*happy dance* Let’s go!
Plug in your own rates to get your own profit numbers. You’ll probably be surprised by the numbers you get.
The main benefit for outsourcing is to free up your time to spend on the things that matter most to you and to have someone else take care of the areas that you don’t enjoy or you feel eat away at too much of your time.
Just remind yourself that outsourcing is an investment and not an expense. You are investing in yourself when you outsource. You are saying that my time is better spent elsewhere so I’m getting these tasks off my plate so I can use my time to drive in more results.
How you spend the time you free up is your ROI (return on investment). Use that time to book another client, work on a new product, write a sales page, or any other task that will help your business move forward.
Here are some suggestions on what you can outsource:
Social media posting
This list can go on and on.
Outsourcing can also apply to your personal life too. If you have an Amazon Prime account, I encourage you to take full advantage of that membership. I save loads of time by not having to go to the store all the time for things like toiletries, snacks, vitamins, protein… you name it, it’s probably on Amazon.
If cooking or meal prepping isn’t your thing, there’s options like HelloFresh and meal prepping services that deliver the goods right to you. Not into cleaning the house? Hire out your housekeeping. Same can go for your lawn maintenance.
This may all sound like a money pit, but the idea is that by outsourcing these things, you’re getting back valuable time which in turn you can use to make more money. It’s all about saving yourself time to work on the things that matter to you and to free up your time to spend with the PEOPLE that matter to you.
Time is one thing in life we can not change, but we have the power to choose how we spend that time. Take back control of your days by deciding on how you want to utilize it. Make conscious decisions on certain things that could be taken off your plate by a simple investment. The return in time will always pay itself forward.
What are some things you outsource so you can spend your time doing things that light you up?