The 21 Benefits of Outsourcing Everyone Should Know
Most people already have some idea of how they can benefit from outsourcing before they start. At the very least, they know about the three most obvious benefits:
It saves time, it saves money, and it makes money.
While these are the most popular reasons that people decide to outsource projects online, there is more to it than one would think. This post will describe seven deeper reasons behind each one.
Outsourcing Benefit No. 1 - Outsourcing Saves Time
Here are seven ways that outsourcing saves time:
1. It allows you to get more done at once.
With double the input, you get double the work. It’s that simple. When you have multiple people helping you to complete your tasks, you can get a lot more done, and the output of your work increases.
2. It lets you concentrate on more important work.
When you outsource the repetitive tasks that distract you from your main role, you can get the important stuff done quicker. This allows your business to function better, and you can put your skills to work where they can provide the most benefit.
3. It improves your response time.
If you have one person or a team of people exclusively dedicated to responding to client concerns, they will be able to respond much faster than if you did it yourself or delegated the task to an already busy employee. Response time has a lot to do with customer satisfaction, and it can determine whether your customer stays with your company or moves on to one of your competitors.
4. It saves time in training yourself and your employees.
In order to perform a task, you need to first learn how to do it. Outsourcing a task to someone who is already experienced can save you a lot of time in learning, and the task will get done faster by an expert than a novice.
How can you benefit from outsourcing? The big three! It saves time, it saves money, and it makes money.
5. It saves time in the hiring process.
Hiring an in-house employee takes an average of 10 days, but it can take up to 20 in some areas. In the same amount of time or less, you can hire a freelancer online and successfully complete one or more projects. This gives online outsourcing the ability to increase your efficiency exponentially and eliminates wasted time between employees.
6. It saves time on commuting.
Time wasted driving to work simply doesn’t exist for freelancers. You won’t have to worry about tardiness due to traffic jams or road blocks because your outsourced employees will be ready to attend to your tasks without going into the office.
7. It saves you stress.
The employee you usually depend on may call in sick, or worse, quit suddenly. This would leave you without the help you need and desperate to find someone who can take over for them. Working with freelancers gives you the option to hire someone quickly so that you never have to neglect company responsibilities due to a staff shortage.
Outsourcing Benefit No. 2 - Outsourcing Saves Money
Benjamin Franklin said that time is money, but saving time isn’t the only way that outsourcing saves you money. Here are seven more ways that you can save money by outsourcing online:
1. It saves energy.
When you outsource tasks to freelancers online, you don’t have to pay extra for the utilities that support your in-house employees. They have their own power, internet, and break room microwave. You don’t have to pay for their office space either.
2. It saves money on benefits.
When you work with freelancers, you never have to provide paid time off, paid work breaks, overtime, or benefits like insurance and tuition reimbursements. You’re also not obligated to raise your employees’ salaries at any time.
Time is money, learn more ways to save money and other factors by outsourcing to online freelancers.
3. It saves money on wages.
Many freelancers are willing to work for a lot less than in-house employees, even as low as 5 dollars an hour. State requirements mandate paying employees a minimum wage, but those rules do not currently exist online.
4. It saves your payroll.
You’re never obligated to keep your freelancers on your payroll year-round like you do with your in-house employees. Once a project is over, you can keep them on standby and contact them when you need help again.
5. It saves money on software and hardware.
Freelancers provide their own power, and they also provide their own computers and software. You won’t find yourself in a situation where you need to purchase a 600-dollar software if you outsource your tasks to freelancers who already have access to it.
6. It saves money on skills training.
While outsourcing saves time on skills training, it also saves you money. You won’t have to pay your employees for training sessions and you also won’t need to purchase any training materials. It just gets done by someone who knows what they’re doing.
7. It eliminates on-the-job injuries.
When you outsource to independent contractors online, you don’t have to worry about them tripping on the office carpet and breaking a bone. You eliminate any risk of work injuries and any subsequent consequences and expenses.
Outsourcing Benefit No. 3 - Outsourcing Makes Money
The best benefit of outsourcing tasks online is that it helps you make more money than you could have without your team of freelancers. It’s the reason why so many people decide to outsource in the first place. Here are seven of the best ways outsourcing is good for your bank account:
1. It improves your customer service.
When your response time improves, so does your overall customer satisfaction. While it might not seem like a big deal to some, it can cost you your clients and thousands of dollars. Globally, businesses lose over 300 billion dollars per year due to lost business. Outsourcing helps you take your customer service seriously and retain more clients, and revenue!.
The best benefit of outsourcing online is it helps you make more money - with a team of online freelancers.
2. It increases your productivity.
The more you work, the more money you make. The more people you have working for you, the more work you can handle. It’s that simple.
3. It grows your business.
Online outsourcing gives you the flexibility to grow in any direction you choose. Not only does it allow you to expand your team and client list, but it allows you to expand the services and products you can offer because you are no longer limited to the skills and tools at your local area.
4. It helps you innovate.
When you grow your team and the skill set available to your business, you prime yourself for coming up with great ideas and applicable solutions. When you have something new and groundbreaking to offer, you’ll see a lot more money coming in.
5. It allows you to purchase more marketing services without increasing your budget.
Small businesses should spend anywhere from 7-8% of their projected gross revenues on marketing. If you’re paying high fees for your marketing services, you may not be able to afford everything you need. Outsourcing online marketing services to freelancers will give you everything you could possibly want and more. This includes advertising, copywriting, market research, social media, branding, etc.
6. Outsourcing your financial planning puts more money in your pocket.
Online outsourcing gives you the opportunity to hire experts at a reduced cost. Hiring a good freelance financial planner can save you thousands by pointing out where your money is being wasted. That money can then be funneled into more profitable areas that help to bring in more revenue.
7. It makes you money while you do nothing.
One of the most appealing aspects of outsourcing projects online is the ability to take time for yourself as the work is completed for you. You can be more involved in overseeing the projects, or you can hire someone to do that for you as well. This may be an employee, an assistant, or an online project manager.
This article provides an overview of the benefits of outsourcing. Beyond this high level look, there are other important considerations for outsourcing, all of which are covered in our Outsource That series.
While some of these are obvious benefits of outsourcing, it’s important not to let them overshadow the hidden rewards of online outsourcing. We have avoided these subjects as much as possible in our books as we worked to highlight the lesser known sides of online outsourcing. We only cover the obvious benefits when it’s absolutely necessary!
There are many considerations for outsourcing, all are covered in our Outsource That series. Grab a copy today!
We hope that this overview has piqued your interest for considering whether online outsourcing is right for you. If you're ready for the next step, check out our books and the many online outsourcing websites to explore how freelancers can help.
If you liked this article or have anything to say about any of the points made, please leave a comment below, we would love to hear your views. Thank you.
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