January 15, 2008
Outsourcing, the Key to Saving Sanity and Making More Money in 2008
How much "work" did you do last weekend? How much will you do next weekend? How many hours are you working each day?
If you're like many Internet Marketers and business owners you're working incredibly full days and you're even squeezing in work time on the weekends. Is it working for you? Why did you get into Internet Marketing or owning your own business? The answer for many is to be able to make money while still having time to do the things we love, whether it is fishing, volunteering at your children's school, or just having time to spend time with and take care of your family. It's one of the reasons I started my own business.
What I found is I now work 60+ hours a week taking care of the business of doing business. Borrowing from Michael Gerber's great book, the E-Myth, as an Internet marketer you're an Entrepreneur, a Technician and a Manager. You're doing it all. You're probably throwing away money because you're too busy to focus on the key tasks that bring in more profits.
This year, I've decided I'm not doing it all. I'm asking for help. I'm automating as much as I can and I'm outsourcing the tasks that make sense to outsource. Of course what makes sense to outsource to me may not make sense to outsource to you.
Some things you might consider outsourcing:
- Bookkeeping
- Research
- Customer Service
- Website development and maintenance
- Affiliate management
- Transcription and other administrative tasks
- Writing/copywriting
I'm a writer by trade so outsourcing my content doesn't make sense for me yet it makes sense for a large number of Internet Marketers simply because it is time consuming. For example, let's say your hourly value is $50/hour. That's the number of hours you worked last month divided by your net profits. Chances are that hourly rate is driven by a few key activities.
For example, if you're selling information then a tremendous amount of your profits are generated by marketing your products and developing your sales funnel. If it takes 40+ hours to create an information product, that's worth $2000. Your time might be better spent working as a marketer rather than a writer since you can have your products created for much less than $50/hour, or $2000, by hiring a ghostwriter.
When you outsource the tasks that don't directly affect your profits, you can then focus your time and energy on doing the tasks that bring money in. Administrative tasks are a really good place to start when you're exploring outsourcing and prioritizing your time.
So what are you going to outsource this year? How are you going to make time to be an entrepreneur, technician, and manager, and still have time to spend doing the things you love? How are you going to make sure you don't have to work on the weekend? How are you going to build your business and focus on the tasks that actually make you money?
If you're interested in outsourcing writing, research, editing/proofreading, or transcription, visit www.allcustomcontent.com.
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Comments on Outsourcing, the Key to Saving Sanity and Making More Money in 2008 »
Great article Annette!
It's so true that we spend so much time doing the things in our businesses that don't make money. E-Myth is a great book and you've pulled out some great examples.
Thanks Roger!
You know you're ready to outsource when you start saying "I don't have time for this" or "I need an assistant" I find myself chanting the latter quite often!