Productivity is the efficiency at which we convert inputs into useful outputs. The quality of our daily outputs ultimately determines our ability to achieve objectives. Every entrepreneur that wishes to be successful should strive to achieve the highest levels of productivity each day.
It is a known fact that the most successful people in the world are masters at making things happen. Elon Musk is the true black belt master at this. I won’t go on about his achievements or the rumors that he doesn’t sleep, but there is no way he would have managed to build a car company (Tesla), a rocket company (SpaceX), a renewable energy company (Solar City), an online payment company (Paypal), a tunneling company that will most likely revolutionize the future of transportation (The Boring Company) – without being highly productive.
The secret is that Elon, and others like him, have mastered how to get the most out of themselves and the people around them. Achieving such unprecedented success requires collaborations in many areas. Rome was neither built in a day nor by a single mind.
The ultimate productivity hack
Collaborating with outsourcing partners is one of the most common ways that many successful people leverage to efficiently achieve their goals.
Outsourcing is defined as the use of outside resources to perform activities that are traditionally handled by internal staff. Not every company or entrepreneur has the resources or expertise necessary to execute projects at any given time.
Some areas that can be outsourced include web development, tech support, customer services, hosting, graphic designs, consultation, marketing, financial services, etc. Pretty much everything can be outsourced nowadays.
You can also outsource your IT support. Remote IT support has been proven to help many companies mitigate security risks and avoid business interruptions.
And thankfully the internet has made it very easy to outsource to highly qualified experts from countries where labor is relatively cheap, such as India and Pakistan.
Freelancing platforms like Upwork and Guru enable entrepreneurs to conveniently access outsourcing companies. They also provide secure escrow facilities, meaning that they can only access their payment after successfully executing the tasks required.
Startups that are bootstrapping or struggling with their finances can use inexpensive outsourcing sites like Fiverr – where professional services are usually listed from just $5.
5 reasons why you should outsource your work
1. To reduce and control the operating costs
Outsourcing work to inexpensive offshore experts can help reduce a company’s overhead expenses by great margins. There is an abundance of highly skilled experts who would be happy to perform the same tasks as in-house employees or local companies, but for a fraction of the price.
Outsourcing can reduce the need for expensive equipment and other facilities. It allows for a more flexible workforce, as tasks can be scaled up or down as needed, which can help to reduce labor costs.
Startups do not need to hire full-time employees for menial tasks such as data entry or social media management. Such tasks can be performed by a contracted person who only gets paid per their output, as opposed to a fixed monthly salary – plus taxes, insurance, employee benefits, etc. Such costs would be eliminated.
2. Helps streamline the company’s focus
Outsourcing menial tasks is a productivity hack that eliminates the need to worry about small and untechnical work, which many times are time consuming. Besides, an outsourced person whose entire focus is on the one task which you consider to be time consuming would most likely do a better job than you would. You are paying for their undivided attention on that specific task. In-house employees usually have many other things on their plates and may not be able to perform the smaller ones to the best of their ability.
This hack can lead to more efficient use of resources and improved productivity. It allows businesses to allocate their time, money, and efforts better to critical areas that drive their growth.
3. Access to world-class expertise
I don’t mean to sound stereotypical at all, but India has some of the smartest people in the world. Take a look at the workforce in some of the most complex corporations such as Google and Microsoft. You will notice that many of them have one thing in common. Outsourcing your technical work to experts in countries like India means that you would have access to world-class expertise rather inexpensively.
Outsourcing providers may have specialized skills and knowledge not available within a business, such as IT, accounting, or marketing. They may also have specific industry expertise that can be leveraged to improve a business’ operations, such as in healthcare, finance, or e-commerce. They may have access to the latest technologies, methodologies, and best practices that can be used to improve the quality and efficiency of a business’ operations.
4. Frees up internal resources for other purposes
A key reason why outsourcing is one of the ultimate productivity hacks is because it enables startups free up their internal resources, and then refocus them on other areas.
Outsourcing customer support would free up more time and resources to focus on sales. Outsourcing website maintenance enables the internal tech team to focus on building an app. Outsourcing social media activities means that you would not have to hire a full time employee to for the job, or to do it yourself. That in turn would enable you to reserve energy for the more strategic areas.
Startups and small businesses that can outsource most of their operations might not even need to rent offices.
5. Maximizing use of external resources
Outsourcing enables companies gain access to expertise in areas which are not available in-house. And rather than hiring employees to cover those areas, outsourcing the work may represent a more economical proposition.
Contracts with outsourced companies are usually short term, sometimes even renewable per task delivered. In a situation whereby their output is underwhelming, then you would be at liberty to terminate the agreement without too many procedures and complications.
Conclusion
Outsourcing can be a potent tool for businesses looking to improve productivity, reduce costs, and gain access to world-class expertise and resources. It allows companies to focus on their core competencies while providing access to specialized skills, knowledge, and technology that may not be available within the organization. By utilizing outsourcing, businesses can stay competitive in today’s fast-paced global economy and increase their overall efficiency and effectiveness.
