Hi! It's Tyrone from Outsourcinglive.com and welcome to the dedicated channel where I share
with you my outsourcing tips and strategies.
Well in today's video, what I want to share with you is all about the benefits of outsourcing
and why and how it can benefit you and your business.
I recently did a survey and received an overwhelming response. And so far to date I've received
over 188 responses and the most important question that I asked people was what other
frustrations and the problems that people face with outsourcing. And I thought well
why not actually tell you and share with you the benefits of that to alleviate what are
some of the problems are because there's a lot of issues that were very, very common
and this is the perfect opportunity to be able to share with you why it's better then
the issues that you've been facing.
Okay so the first one that I wanted to raise which was a very, very common topic was trust.
Trust with outsourcing your business to other people and why it can benefit to actually
decide to let go of your business. Now if you have all your system and your structure
setup correctly which takes a bit of time to do and I'm not going to say it's going
to be one thing that happens overnight, it does take time to build trust. But the thing
is once you've built up trust between your virtual staff or your team that you're actually
outsourcing your business to, then imagine the amount of freedom and the flexibility
and the automation that you can have especially when you've set it up right because then people
can actually get your work done while you're still generating income from your business.
And I'm talking also from experience. From experience is that when I was running my Dragonboat
business, I was working about 60 hours a week and when I outsourced it, I was only working
about 10 hours a week which allowed me to have that 50 hours of extra free time to do
other things like to work on new projects or to spend time with my loved ones or to
do the hobbies that I enjoy.
So imagine if you had to give up some of your time and to trust someone else to do that
for you, just think about the benefit that you may gain from that and the benefits are
those things that I've talked about. So that's the first thing, trust.
Second thing as well is that I wanted to share with you with regards to one of the issues
that people face inside or having frustrations with outsourcing was to do with cost. Cost
was a huge, huge factor that people couldn't decide on doing.
Let me put it in a more of a relative and also different perspective. Say for example
you are earning an average wage of about $20 an hour. I think the average retail wage is
about $20 an hour for anyone above 18 years old. And say you went out there and hired
someone who was you're paying roughly about equivalent to about $2-3 an hour. And in that
money, it's probably very, very high or still considered quite good average wage in their
country. But because of the exchange rates and because of our economies and scale, that's
the reason why there's such a big difference.
But imagine if you were to work 20 hours a week, and doing it - sorry - $20 per hour
for 40 hours a week, you'd be earning or spending about $800 or so to be able to earn that.
Now if you were to pay someone to do that 40 hours a week, it's roughly equivalent to
$80. So it's about 1/10 of the price. And if you're also earning about $800 and you're
paying someone $80, you're still making a profit of $720. So when you look at the cost
factor, it actually is not bad spending but when you think about the time that you get
back or freedom and flexibility that you may get back just from those hours of not working
them, then imagine that kind of cost saving that you would have. And that's the thing.
I think a lot of people just don't realize and look at themselves thinking all right
if I could do it myself, it doesn't cost anything. That's actually not the best way to look at
it because when you do spend your time working on a particular project or working on a task
it does cost you your time. And you're going to ask yourself, how valuable is your time?
My time, you know when you look at it I've worked at least more than $250, $300 an hour.
That's how I look at my time especially compared to the income that I'm able to earn. So that's
what you've got to foresee and look at and that's one benefit of actually outsourcing
is the cost factor.
Now the final and the third thing that was a really, really big question that a lot of
people had or an issue was the access or the resources. How do they be able to get the
work done exactly the way I want it, where can I find these kind of people. Those are
the issues that people face. Now, the benefits of actually going out there and finding someone
to do this is really the upside.
I'm giving you an example of say for example a web developer. Somebody who could do web
development for you, would require little bit technical skills in terms of IT, web development
and so forth. But to actually go out there and find it, it's not really that hard but
the thing is you're going to get a benefit in return because you don't have to go and
spend years to learn doing it yourself or even weeks on doing it.
When I first started my Dragonboat business, I created my website and it took me months
just to get one website up. Whereas, when I realized that I could outsource it, it only
took me about a week to get that website, same website developed. So instead of spending
a whole month myself and pouring in all my time and effort into that, I outsourced it
and got it done within a week and that was a huge, huge cost saving and I was able to
access those kind of resources at a fraction of a cost.
Let's look at outsourcing as well in terms of accessing resources locally and accessing
resources globally. Globally, we have such a huge, huge market to tap into. We can tap
into countries like Philippines, India, we can tap into Romania, all those other countries
and they have a very, very high amount of very well-skilled resources.
If you can tap into those kind of resources, you will make yourself a huge cost saving
because you can hire anywhere between $3 an hour anywhere up to $10 an hour. If you're
to hire someone locally, and I know in Australia, it costs at least a minimum of $50 an hour
to hire a web developer. So that's the huge cost saving and access to very highly skilled
resources.
All right so you can sort of see how the reasons why outsourcing is a very, very highly beneficial
path towards your business and if you can consider accessing those resources, you can
really streamline and also not only that, speed up the process of work gets done and
also get your business moving, growing and out there much faster.
So that's really the reasons why I wanted to share with you because out of that survey,
I gained so much from what was happening in the market because I've really touched base
with everyone to find out what they are struggling with and what are their frustations were and
that's the reason why I've created this video.
All right so hopefully you've enjoyed that. I love to hear your feedback. If you do have
any comments, I would encourage you to go to Outsourcinglive.com and I'll just put them
down just below this video and that way you can share with others also too what you may
think is also the benefits and also some of the issues.
Maybe let me ask you this question. If you didn't answer my survey, what are some of
the issues and the problems that you think people are facing with outsourcing today.
So go ahead, just leave a comment right down there below and I'll be sure to answer them
as well.
So thank you very much for watching this video. My name is Tyrone from Outsourcinglive.com
and I'll see you inside the next video. Bye for now.
Now if you like more resources like this one, you can find them inside Mass Outsource Mastermind
along with video tutorials and step by step instructions showing how I use them.
To get a 30-day no risk trial memberhip to Mass Outsource Mastermind, simply visit Freevideoset.com.
Until next time, I wish you success in your quest for outsourcing.