Those who are considering becoming entrepreneurs often have an idealized vision of what it means to be in business for one’s self. They may be tired of working to make money for someone else, bring home only a small portion of the profits they generate.

They see entrepreneurism as a way out of that trap. By working for themselves, they can eliminate the middleman and keep all the money they make for themselves. And besides that, they can enjoy a greater degree of freedom.

And so they leave their jobs to start a business of their own. Of course they must realize that it will be more difficult than following orders from someone else, but no pain, no gain, right?

And then reality sets in. Running a one-man show is hard work. You do all of the profit-generating work. You function as a bookkeeper, maintaining records of income and expenses and sending out invoices. You design your own website and do your own marketing. The list goes on and on.

If you start making money right away, you might feel that it’s all worthwhile. Still, it’s a bit of a shock when you see all that’s involved in running a business, and you will eventually suffer from burnout. And if you don’t see profits right off the bat, you just might feel like giving up. If there’s no money coming in, and the freedom you so desired isn’t materializing, what’s the point?

New entrepreneurs aren’t the only ones who fall victim to this mentality. Those who have been at it for years can also find themselves trying to do it all. If they’re lucky enough to have stayed in business and not experience burnout, they could even be doing well.

But by neglecting to outsource some of the activities that do not make them money, they leave themselves less time to concentrate on generating profits and deny themselves opportunities to grow their businesses.

You – Yes, You – Need to Outsource

John Donne

Outsourcing has numerous benefits. It eliminates the need to do work that you may not possess the skills to perform as well as someone who has specialized training. It allows you to concentrate on the aspects of your business that you enjoy rather than the ones you find irritating or monotonous. And perhaps most importantly, it makes it possible for you to make more money.

So why do so many small business owners insist on doing everything themselves? There are a few possible reasons:

They don’t want to relinquish any control. Their businesses are their own creations, their “babies.” They feel that they must carefully manage every aspect, and the only way they can accomplish that to their satisfaction is to do everything themselves.

They have trouble trusting anyone else to handle their business affairs. They worry that they will make mistakes or be dishonest. Since they know they can trust themselves, they take everything into their own hands.

They think they can’t afford it. When dealing with a small budget, it’s easy to believe that there’s no room for hiring out some of the work. So the business owner takes on roles that he might not be comfortable with in an effort to preserve profits.

They might believe that outsourcing is only for large corporations. The thought of hiring contractors or firms to do some of their work may have never crossed their minds.

They don’t mind multitasking. Some people truly excel at it, and that is a great asset to any entrepreneur. (But there are times when multitasking isn’t the most efficient way to get things done.)

Do any of these reasons sound familiar? If so, maybe it’s time to let go of your apprehensions and misconceptions and give outsourcing a try.

A lack of trust and a need for control are two things that can be difficult to overcome. But if you want to get the most out of your business, overcome them you must. If you hire honest and competent people, you’ll have little to worry about. Screen candidates thoroughly and check references, and in the overwhelming majority of cases, you’ll find that they work out just fine.

At first glance, outsourcing might not seem to make sense for fledgling businesses. And in the very beginning, there really might not be room in the budget to hire contractors. But once you have some profits rolling in, outsourcing can increase them greatly.

By hiring someone to do your marketing, for instance, you can keep new clients coming in and have more time to do the work they give you. As long as you’re making more money from the marketing efforts than you’re paying for them, all is well.

If you just don’t think you need to outsource, consider this. Let’s say you make $100 per billable hour. If you’re doing all of your bookkeeping, marketing, order taking, customer service and so on, that means that you might not have time to do more than 4 hours worth of billable work in each 8 hour work day. Working 5 days a week, you would bring in $8,000 a month.

But what if you were to outsource all of that other stuff? If you could pay contractors to do it, even if you had to pay them all $50 an hour (and chances are, you won’t), you would still come out ahead. You could get in 8 billable hours each day, doubling your income to $16,000 per month. By the time you paid your help, you would still get to keep a total of $12,000 for working the same number of hours as you were to make $8,000.

To Your Success!

Warm Regards,
Jeremy Gislason
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