Two of the focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. When running a business of any kind, no one can possibly know everything, and no can has the time to do everything. This underscores the importance of outsourcing. The following contributed post is thus entitled, Why You Need to Become Comfortable with Outsourcing in Your Small Business.
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Image via Pixabay
You know, entrepreneurs are pretty notorious for being desperate to micromanage absolutely everything in their lives. This isn’t too surprising when you consider the fact that they put themselves in the uniquely difficult position of having to be solely responsible for the success and performance of an entire business.
Of course, any entrepreneur worth his salt will need to be able to take responsibility and ownership for what happens in his professional life. That being said, though, there is such a thing as too much.
Entrepreneurs who fail to become comfortable with outsourcing elements of their business at some point, inevitably end up sabotaging themselves and having a much more difficult life than is necessary.
Here are some reasons why you really need to become comfortable with outsourcing in your small business.
Your time is a limited resource — you’re only human — so you need to be able to focus on what will really move your life forward
Have you ever looked at an extremely successful figure in business, such as Warren Buffett, and asked yourself the question “how is it possible that one person can achieve so much?”
Well, a major part of the answer is that these people treat their time as the most valuable resource they have.
Warren Buffett may have far more money than you think you could ever even dream of owning yourself, but he only has the same 24-hours in his day that you do. What makes the difference, is that he knows how to leverage time as effectively as possible.
Outsourcing allows you to focus your time and energies on those areas where you can make the biggest impact. By allowing companies such as Outsourced IT Support to handle your IT support, for example, you may save hours in a given week that can then be spent on more fruitful activities.
If your business ever grows beyond a certain point, you will likely need to be able to comfortably defer tasks anyway
When you first start your business, it may seem almost inconceivable that it will one day become large enough that you absolutely need to bring in additional team members.
Nonetheless, if you are running your business right, and it becomes as successful as you might hope, it is almost inevitable that you will need to learn to work with employees sooner or later.
Suffice to say, unless you become comfortable with outsourcing tasks to other people, you will end up being one of those bosses who everyone hates, who tries to micromanage it all, and who stalls the progress of the business as a result.
Certain third party professionals will simply do a better job in certain areas than you would
If you are an entrepreneur, you are likely a very enterprising person.
But no matter how enterprising you may be, there is no chance that you are going to be the best at every possible dimension of a given business.
Inevitably, certain third-party professionals will simply do a better job in certain areas then you, yourself, would.
Outsourcing, therefore, may actually improve the overall performance of your business. You just need to have the humility to step back a little bit.