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| For a powerful tool that will teach you how to get what you want, get to know your Numbers |
Your time is so much more valuable than money.
If you have already started (or are interested in) creating wealth by escaping the hours-for-dollars trap, you’ve probably realised how important it is to use your time wisely.
How can you clear your plate when you have so many opportunities and they’re all important? The answer is mastering the art of effective outsourcing.
The First Question: To Outsource or Not to Outsource?
Before you outsource, it’s important that you determine two things: how to decide what to outsource and how to let go of responsibilities.
The second of these is the most difficult for driven people who feel that they are always the best person to do a job. These are the people who are stuck as employees of their employers, instead of being business owners who have the free time to build and to visualise and to create thriving organisations.
Letting go is also difficult for people who fear that outsourcing is going to “cost them money,” and that’s why smart outsourcing starts with knowing when to outsource and when not to.
The best way to determine when to outsource something is to calculate the “opportunity value” of your time compared to the cost of hiring an outsourcer.
Determine how much your time is worth per hour. How much can you make if you’re focusing on what you do best? $20, $30, $40 an hour?
If you’re making $30 an hour, and if you have a task which is taking you 5 hours a week to do, that means you’re investing $150 a week to perform that task.
Is this something that you can outsource to someone else and pay them $50 a week to do? If so, it’s actually costing you more NOT to outsource than it is for you to do it yourself.
This approach can analyse all the tasks on your plate and determine whether it’s wiser to outsource them.
Think Quality
The other thing to consider is the quality of the outcome of the task that you’re doing as opposed to a job that an outsourcer could do.
If you’re trying to design your own website, you’re not only taking time away from something which you could do to earn quick and certain money, you’re probably doing a worse job than a professional web designer would (unless you’re a web designer by trade).
It’s important that you also consider this regarding tech support for your company, design, programming, voiceover talent, video talent, legal tasks (taxes etc.), bookkeeping, and customer service.
If someone else can do it much better, it’s better to outsource it so that you can commit your time to doing what you do best.
Now that you know this, where will you find good outsourcers to handle your extra tasks? Sites like Fiverr are a good place to start.
Remember 4 Important Requirements
Finding outsourcers requires you to be clear about four things:
- What you want them to accomplish
- The resources you’ll have available to do the job
- Your deadline
- Your expectations for the process (communication with you, updates, etc.)
Now look at your tasks and determine where you can better leverage your time by outsourcing to someone who will do a great job.
Then you can focus on doing what you well and build a successful company.
For a powerful tool that will teach you how to get what you want, get to know your Numbers
