Growing Pains & When to Outsource
You’ve been killing it in your business! Revenues are increasing, your client base is growing, but you’re overwhelmed and starting to feel like there isn’t enough of you to go around.
Maybe you haven’t had a date night in months and your hubby doesn’t remember what you look like without a computer in front of your face? You might be used to running on fumes from working late into the night. We know we’ve been there!
If this sounds like you, well my friend, guess what? It’s time to start outsourcing!
Sure you may be thinking, “Heck yes, I’m ready to outsource, but I literally don’t know what I can let go of?! How do I figure it out?!”
The main problem we see with outsourcing is that people go about it the wrong way. When you outsource correctly, your profits will still continue to increase. If you outsource the wrong way, you’ll see your business start to struggle to keep up.
You know you’re ready to outsource when you’ve got a consistent income coming in from your business. If you still aren’t making at least enough to cover your Cost Of Doing Business, you are not ready to outsource anything. You’ll get there! But for now, it’s time to keep grinding.
Once your business is pulling in a consistent income that covers your CODB and then some, you can start analyzing where would be a good spot to outsource.
The main thing to keep in mind here is, you can’t outsource until you know how you’re going to make back that money that you’re spending having someone else do the work. The key to a strong outsourcing plan is to make sure you know when it’s time vs. when you’re just tired.
Questions to Know What to Outsource
1. What is the area of your business where you spend the MOST hours in the day? (Ex. Editing, client communication, organizing your inbox, writing social media posts, etc.)
2. What is the most neglected area of your business? Or what area are you most likely to procrastinate on?
3. How much do you make per hour? (You should know this number by heart!)
Put it into Practice!
Let’s say you spend 3-4 hours a day managing my social media, writing posts, linking to content and pulling/editing images. You know you make $75 an hour with your business, so now you’ve got a $225/$300 budget for outsourcing your social media management.
If I had 3-4 hours back in my day, what could I do to make MORE money?
You could write up more educational content. You could reach out to new potential clients. You could beef up your email marketing. The list goes on!
The most important part of outsourcing is the intangible part. Sure, there are business things that you can fill your hours up with once you take things off your plate. But as creatives, we need to make sure we also add in some down time. Once your business is stable and profitable enough to allow for outsourcing maybe consider using some of those hours to do something not business related.
Have a date night with your hubby! Take your kids out for ice cream. Close the laptop down and actually watch TV together.
Outsourcing isn’t just about giving you more time for your business, it also gives you more time for your life!