How Do I Make a Profit from Outsourcing?

Hiring remote workers and outsourcing tasks is just good business economics. From finding the best talent easily to getting menial admin tasks of the boss’s desks, the reasons for outsourcing are extensive. One of the biggest is because outsourcing makes for a healthy balance sheet.

In this post, we address the growing outsourcing culture and the ways outsourcing can help save and make businesses money.

The Growth in Outsourcing Culture

Businesses of the here and now are outsourcing all types of tasks and projects to talented individuals working remotely. From getting a logo created and copywriting to business proposals and administrative work, there is a professional somewhere waiting to complete the work for business owners, consultants, CEOs and managers.

The pool of talent just a mouse click away is too tempting for businesses who can avoid employment costs to hire professionals on a per-project basis or subcontract work.

The trend is growing with the BBC reporting an estimated 40% of New York professionals working remotely at least once recently. The new remote working culture – and with it an outsourcing culture – looks set to continue, especially considering almost half of today’s freelancers are millennials.

How Outsourcing Saves You Money

Outsourcing projects to talented workers aren’t just there to help workers strike a better work-life balance. The trend is also benefiting businesses and can even help them make a profit. Here are some of the ways that outsourcing is good for the business books:

  • Businesses do not need to spend money on recruitment processes to employ someone full-time.
  • Businesses do not experience costly unproductive hours as most remote workers are paid on results rather than hours. The average UK worker is suggested to spend 84 minutes each day either on social media, socialising with colleagues or making tea.
  • Using time zones to the business’s advantage can save on having to pay overtime in busy periods.
  • Frees up internal staff to focus on other matters and objectives.

Calculating How to Make a Profit from Outsourcing

The above is great for saving money – and saving money is money made. Yet, outsourcing can be also a way to make a profit, and it works with simple maths.

If you are a manager, consider each one of your team as a valuable player who can bring X amount of money into the business each day. Sometimes these players are tied up on menial duties that are not making the business a profit over the short term but are essential for business operations.

To make a profit, you need to outsource these unprofitable responsibilities for fees under the aforementioned X amount – while accounting for in-house wages. With careful consideration, it is possible to pay your staff, a remote worker and get a better financial result from each working day. Naturally, this option may only be available at certain periods of the year.

It is common that removing staff from administrative or IT duties are most effective because these are the duties that external workers can perform on your behalf, simultaneously allowing internal staff to help achieve main business goals.

Outsource Your Administrative Duties to Anna Burton

If you want to start making more money through outsourcing, Anna Burton is here to help. With a stellar reputation and glowing reviews, we can provide remote assistance in an array of administrative, secretarial or IT tasks so your team can focus on what really matters!

Speak to her to learn more, today.

2020-11-24T09:32:56+00:00February 10th, 2020|