Your Income Booster Using Outsourcing
[Outsourcing: Accomplish More in Less Time and Generate Extra Income]
By
Professor Theodore Henderson
“Many folks think they aren’t good at earning money when what they don’t know is how to use it.”
— Frank A. Clark
We decided to add to our “Income Booster” series with a special section on outsourcing. The outsourcing strategy has grown in popularity as a low-cost method of obtaining a service. While many individuals supplement their income by completing outsourced activities for others, it may be more advantageous to be on the opposite side of the equation. There is a lot more money to be made.
When you do your own job, you are ultimately constrained by time. If others are executing the task, your only limitation is your capacity to manage all the moving pieces. See our additional resource section at the end of this post for more information to aid your strategy.
Income Booster Strategy: Utilizing Outsourcing to Grow your Income
Consider the following possibilities for generating additional revenue via outsourcing:
1. The Ancient Art of Arbitrage. Arbitrage is an age-old notion. If apples sell for $6/dozen on one side of the mountain but only $2/dozen on the other, it’s simple to buy them on the cheaper side and just move them to the more costly side to sell for a greater price.
Consider the many services offered by outsourcers: article writing, graphics, voiceover work, YouTube video making, website building, CMS, and more.
Fiverr.com, Upwork.com, and Guru.com are just a handful of the internet outsourcing sites where you may find someone to perform any task you need doing.
It is feasible to locate high-quality employment for relatively little money with little effort. It’s not unusual, for example, to find someone prepared to design a website for $100. You may also identify folks prepared to spend $1,000 or more for a website. Simply delegate the task and retain the difference.
Consider acquiring many customers who need a website and then delegating the task to a freelancer. Your only actual job is to locate clients. As the demand increases, you may recruit more freelancers.
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Visit our Recommended Business Tools page to review several excellent online business & marketing applications.
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2. Make more time for more critical chores. If you’re a one-man or one-woman show, you understand how difficult it can be to accomplish everything solo.
Aside from creating the product or providing the service, there are other requirements. You must promote your company, attract clients, handle sales, manage billing and collections, maintain the records, and do everything a sole proprietorship requires.
It is uncommon to find someone who excels at all of the responsibilities required to manage a successful firm. Everything else may be hampered by a single weak connection.
If you don’t enjoy selling, some professionals can manage that side of your company for you. Consider all of the jobs you do that would be pretty easy to teach someone else.
Find one or more freelancers to help you with those duties. Tip: Sales might be a good place to start since you may be able to locate someone ready to work on commission. They can cover their own expenses.
With more free time on your hands, you can be more productive and earn more money.
Outsourcing may be a terrific method to supplement your income, but finding a professional freelancer for your requirements will take some time and luck. Given the difficulty of predicting good fortune, it only makes sense to depend on effort and an intelligent approach.
Locating A Freelance Professional
This approach will assist you in locating a freelancer that fulfills your income booster requirements:
1. Identify your requirements. If you don’t know your wants and desires, it’s practically hard to meet them. Consider the straightforward jobs you don’t love doing or aren’t very skilled at. Ideally, you’ll locate an assignment that satisfies all three requirements!
Choose one job to delegate. Choose the one that makes the most sense. Keep in mind that you may also outsource the actual product or service. Perhaps you’re one of the fortunate small business owners who have too much work to do.
You can always outsource more assignments later but start with one.
What qualities does your outsourcer need to have? What kind of experience is ideal? How well does he have to be? How many hours per week will you need assistance? Which personality traits would you want to see?
2. Create and submit your listing. A quick search will turn up a plethora of outsourcing platforms. Here are a few things to bear in mind:
Be cautious about publishing or disclosing your primary email address, Skype ID, or phone number. You’re virtually certainly going to get a lot of unwelcome attention.
Remember that you may also search the postings for someone who seems to have the expertise you need at a reasonable price. Doing both is the most successful method.
3. Evaluate and conduct interviews. The assessment procedure will be determined by the sort of work you want. A résumé may or may not be required. In most circumstances, samples of previous work are required. Select a handful of the most outstanding applicants for interviews.
Skype, Zoom, and Google Meet is excellent tool for conducting interviews. There’s a lot to be learned just by looking at someone and observing their body language.
Take note of whether or not the applicant arrives on schedule. Can you expect them to continuously fulfill deadlines if they are late for the interview?
Prepare a few questions to test their knowledge. Every industry has its own jargon. This is one method of identifying folks who claim to have knowledge that they do not genuinely possess.
Before making a selection, interview all of your top prospects. The first candidate may be excellent, but the third may be much superior. You’ll never know until you interview everyone. Take the right amount of time to hire the right people for your income booster strategy.
4. Provide a modest “test” job to the best prospect. If they are incapable of doing appropriate work, the sooner you realize this, the better. Make certain that they have all the knowledge and direction they need to achieve their finest. This will also assist you in determining what you need from them.
If you locate someone who has a good attitude and outstanding talents, you must shape them into what you need.
5. Give commentary and feedback. It’s doubtful that everything will be perfect straight away. Constructive feedback is essential for eliciting the most satisfactory performance from your contract or freelance worker.
Outsourcing may be an excellent way to earn more money while performing less effort. Make a list of all the jobs you do regularly. Then determine which ones you’d want to outsource. Take it one step at a time, and you’ll find the appropriate person for you.
Allow yourself to devote a significant proportion of your time to the most productive and profitable jobs. You’ll enjoy – and earn – more money from your business with this income booster!
Additional Resources – Income Booster
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Visit our Recommended Business Tools page to review several excellent online business & marketing applications.
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About The Author
Professor Theodore Henderson works with business owners, entrepreneurs, and corporate professionals on their business skills, marketing, and leadership strategies. He is an Amazon best-selling author, a Certified Career Coach, Business Skills & Leadership Coach, and a Certified Social Media Security Professional Powered by CompTIA.
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Visit The Wisdom4Business Blog for the complimentary series on business startup and entrepreneurship.
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Also, visit TheHealthyBusinessOwner.com for timely and useful tips and strategies for living a healthier lifestyle.