I’ve recently been turned onto The 4-Hour Work Week by Tim Ferriss and I’m about three quarters of the way through the book. I’m still quite skeptical like you may be right now, but work with me on this! First, if he and others can do it, surely it is doable, but this blog isn’t how to duplicate Tim Ferriss. Feel free to read his book (no affiliate here) in full to be enlightening but my point here is to highlight on one of the key points that resonated with me – outsourcing, oh and time management.
A question you may have is why to outsource. My first thought was to outsource the monkey work, you know the mundane tasks that you just don’t like doing about your job. Who likes doing payroll, paying bills, tracking down payments, stuffing envelopes and the like?
Spend your time doing what makes you money
I wrote a blog some time ago about business owners needing to spend their time doing the things that they make the most money doing. Our time is just as important, if not more important that money – so time is money, spend it well.
Just because you can, doesn’t mean you should
Another thing to outsource are the tasks that you don’t understand or aren’t skilled at doing. Many people, self included, can’t get through their thick skulls (yep, that’s me) that just because you may be able to do something, doesn’t mean you should be doing it. Sure, I can do my accounting and it isn’t that difficult but it wastes valuable time that I can be making money, not just documenting it. This is where I/we should be spending money to outsource these tasks. We often say that we don’t have the money to do this or that, but this is your business, if we don’t have the money to make our business run effectively and profitably, then maybe we should reconsider our business plan.
Give a little power away
Further, Tim Ferriss’ plan is to outsource pretty much everything, give others the power to do things for him without having to consult him on everything. Power, that’s something that is very hard for folks to give up. We may have the skills and talents to do our job best, but surely there are others that can help us so we can make more money or save time. They may not need to do every aspect of our job, but ideally, do you want to work your body to the bone until you are 80? Yea, me neither!
Some things you may not be able to outsource and I am with you on that because I wouldn’t want people I haven’t vetted to get into my bank account or into my clients’ websites and etc. But think of it this way, are there ways to help cut the learning curve, pieces that you can outsource to make the bigger parts fit together better or maybe just little stuff that you can outsource so you don’t have to do yourself? These are the things that you need to consider outsourcing.
Test out your outsourcers
Further, you will definitely want to interview and test out folks that you have working for and with you, just like any other employee. Give them the test and see if they work out. If they do well with what you have given them, then give them a little more. Make it work, for your sanity and time!
“So, again… I pose to you – if time is money and we are wasting our time doing things that don’t make us money, then, is it worth our money to save our time and spend time where we can actually make money? What’s it worth to you?” ~from my Time is Money Blog
I would highly encourage you to read Tim Ferriss’ book. It may not be everything that you can do. He did a lot of manufacturing and reselling and I’m in the service industry but there were many nuggets that I could take and use.
Lastly, I am happy to offer online (via Skype) consultations to help you break the learning curve to stay on top of your website for SEO and/or PPC as well as social media. I offer local classes that are hands on and teacher (that’s me) lead. Contact me today, I’d love to help you and your business out so let me know how I can help you!