In today’s world of remote technology and fast broadband, a business owner can actually outsource an entire business. To some this idea may be frightening, but to others it has been the ticket to freedom from a boss or a job. Internet marketers and online business owners who leverage technology to their advantage are the ones who understand that for every contractor they bring into their team, they are investing in their business. Every task that can be successfully outsourced to an expert can bring a huge return on investment (ROI) in terms of time gained for yourself and your family. In addition, there will be a monetary ROI for each and every service provider with whom you contract.
Think of it this way. If you can earn 160.00 per hour, doing what it is you do that brings in money to your business, but you’re spending time doing tasks that can be accomplished for $25.00 or even $100 dollars an hour, you’re not investing your money or your time wisely. Why not spend more time doing whatever it is that you do that earns $160.00 per hour, and less time doing what can be done less expensively by someone else. Not to mention that when you outsource to someone who is an expert the job will be done faster and better without you!
In business, this is called — maximizing your efficiencies. If you’re a fabulous life coach imagine how many more clients you can take on if you’re not entering data, editing websites or sales pages, or editing content for article marketing. If you run a successful online business of any kind, you can probably make a list of activities that you could outsource to others that will cost less than your hourly rate. If so, you can use the time more efficiently by doing more of whatever it is that you do best and let others do what they do best. You’ll create a more powerful and profitable business if you view bring on contractors as an investment in your business rather than an expense.
For example, your hourly rate is $160.00 for doing what you do. You hire a Virtual Assistant to take care of posting all blog posts and article marketing articles for you for 10 hours a month. Now this is off your plate. Now you have 10 more hours a month to earn $160.00 – $25.00 per hour, this is a net increase of $135.00 per hour for 10 hours, which can increase your monthly gross income by $1350.00.
That’s an excellent return on investment and can’t be beat in any other way. Even if it takes you an hour a month to communicate with your VA you’ll still be ahead by over $1000.00 per month. The truth is, the monetary increase will become greater the longer your VA works with you. When people do the same task over and over again they will become faster and faster at accomplishing the tasks, so over time that 10 hours of work that you contract with a VA can become worth more than you might imagine depending upon how good the VA is at their work.