You might have heard of outsourcing and thought how great it is to be able to get somebody to do all the nitty gritty work in your business for you. But there’s one stumbling block which often holds people back from outsourcing and it’s simply this – money. I find that outsourcing is an important part in my Internet Marketing business.
You need cash in hand to be able to pay the people that are working for you. Often they’ll be producing things for you on a per job basis and would be paying as soon as they’ve done the work. If you go through an outsourcing service you may have to pay in advance and put them on your escrow before the work is produced for you.
So if you don’t have money available, you just simply can’t outsource. What are the best ways to get around that? The first thing you should do is simply try and create money. Can you get hold of some quick cash?
If you can do a few hours of work yourself, this gives you enough cash into your business that you can possibly afford to pay your outsourcers to do a much longer task for you. Then you’ve used your time profitably. After all, you’ve done something which will take a lot amount of time and condensed it into a small amount of time for you and then use the money to pay for larger amount the time on behalf of the outsourcing worker. Always try and see if the quick cash option is available to you.
This quick cash option might come through putting together a quick e-book and selling this on online marketing forum. It may be that you work and produce the service with somebody else yourself. You may even go around and start weeding somebody’s garden if that’s the best way to make quick cash. Go ahead and grab that money and you can start outsourcing.
The second thing to think about doing is to negotiate directly with the outsourcing partner. There are many reasons for this. First of all, you may be able to negotiate a better deal but often you may find that the person you’re outsourcing to will consider a percentage deal rather than being paid outright.
What does this mean? It means that it’s a bit of a risk. If you offer the outsourcing partner 50% of the value of the product they’re creating but their doing it to your specification and you’re doing all the work to market it, for your outsourcing worker this may be a very good deal because it could end up bringing them a much larger income than they would have got by taking one off payment.
Certainly, there are many higher end outsourcing workers that operate like this. If you ever hired a copywriter, you’ll know they may be more interested in any percentage of your final product for their high end work than by simply taking a fixed amount of money beforehand. Always consider negotiating with your outsourcing worker and see if a percentage deal is on the card. This will save you from making an upfront payment.
The final thing to do is see if there’s a longer term solution to your outsourcing problem which will balance the books for you. It may be that it’s more proper for you to borrow a small amount of money on a credit card or to simply stop spending money in other area for a short amount of time in order to have the money to outsource in the long run. After all, consider do you really need the cable television subscription which you put money aside to pay for? You can instead use that time to be productive yourself and for your outsourcer to be productive.
When you put these two things together, you have developed a much more long term profitable strategy for your business. A bit of short term paying can mean a long term gain. So you needn’t be worried that it’s hard to get the money together to outsource. There are always alternatives to this.
You should consider if you can make some quick cash upfront even if means working extra hours in your day job to try and pay somebody to do work for you. Talk to the outsourcing worker and see if they’ll consider a deal in percentage terms or even a part cash part percent deal to allow you to go ahead and hire their services. Finally, see if you can adjust your expenditure and long term living plans to get the money that you need to start to outsource.
If you use any of these strategies, you should find you’re able to outsource more of the tasks in your business. This may well increase the long term viability of your business as well.