The new calendar year typically brings with it plans for a new annual business strategy. It may be a detailed written document, or some simple “must do’s” in your head. Either way, they are meant to improve how you run your business, improve your customer relations, be more organised, and overall grow your business.
One challenge most small business owners face is that there never seem to be enough hours in the day or the work week to get everything done! Sound familiar?
Getting yourself better ‘organised’ to free up some valuable hours could mean freeing yourself from mundane tasks or complex and time-consuming work. Or both. All you need is another set of hands and a competent mind: Outsourcing is a good option. Help is available to you in the form of specialists like graphic designers, bookkeepers, virtual assistants, writers and more, depending on your area of need.
These specialists are an invaluable resource to help you free yourself from time-consuming tasks you need to accomplish, and do specific work that just isn’t your forte.
Since many small businesses and start-ups work on a tight budget, the temptation to do everything ourselves looms large. One way to do a self-check on whether or not outsourcing is “worth it” is a simple cost-benefit analysis.
Consider what one hour of your time is worth, i.e. either what you charge your clients for one hour of your standard service packages or the value of one hour’s work you put into your product based business. Then estimate how many hours it might, or in the past already has, taken you to perform a certain job, for example data entry, researching and posting your regular social media content, creating a PowerPoint slideshow for your next presentation, updating your website, or creating and sending a monthly e-newsletter.
The time it takes you to perform these tasks is very likely longer than if the specialist did them, and that is where your savings will lie.
So for 2015, make it a plan to free yourself from some of your business tasks you’d rather not be doing anyway, and instead focus on networking and meeting new prospects, turning them into new clients, and growing your business and profits. Here’s to a successful year!
Martina Rowley is the founder and operator of Beach Business Hub – THE co-working space east of the Don Valley. She combined her passion and experience in the environmental sector with her community engagement side to create a local work environment where space and resources are shared. She fosters and facilitates collaboration, networking, and learning for and with small business owners and new start-ups. Contact her at:http://www.beachbusinesshub.ca, on Facebook and on Twitter