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Advantages of Outsourcing Your Business

By | Entrepreneurship, Food for thought, Human resources, management, opportunities, outsourcing | No Comments

In my previous posts I often stress the importance of finding your genius. Finding what it is, that lights the fire in you and makes you want to go through your day. We all have that. We all have a task that we look forward to doing.

You may like talking to your clients, and building a relationship but you may not like preparing the paperwork, or working on email follow ups. Whatever it is that enables you to maintain your flow, keep doing it. Stick to your genius – and outsource the rest.

 

Benefits of Outsourcing

I have been outsourcing for several years and let me tell you, the benefits of outsourcing are massive. I discussed some of these in the Power of Outsourcing. Let me add a few more details:

  1. You can delegate tasks and focus on what lights you up. There are tasks that I do not enjoy doing, but are necessary for the business to run smoothly. Outsourcing allows me to delegate these tasks and concentrate on doing what I do best. It gives me time to connect with clients, to talk, and listen. It gives me time to be present.
  2. You save on costs. In any business, the goal is to bring down operating costs and increase revenue. When you outsource, you do not need to pay for utilities. You do not have to rent an office. You are able to save on costs when these are taken off the expense list.
  3. You have less concerns to attend to. You do not have to worry about equipment breaking down. If there’s a problem with the computers, the power or the internet, they’ll be the one to sort it out. All of these get taken off your plate when you outsource. Have you ever used a self-cleaning oven? It cleans itself and all you have to worry about is what you’re cooking. It’s the same way when you outsource. You concentrate on the actual tasks, all the rest are taken care of.
  4. You have more time for other things. Our lives are so much more than work, work, and work. Spend time with your family. Pursue that hobby. Have fun with friends. Go out on vacation. You have to have time for other things, and outsourcing allows you to do that.
  5. You have a wider pool of candidates to choose from. Outsourcing allows you to hire globally. Because of the difference in our currency rate, you can hire candidates with the same skills for a lot less than if you are hiring in-house locally. I’m not saying that you go and hire the cheapest one you can find. It is important to make sure that the team you hire have the necessary skills in order to do the job well. Find a team that you know will have your back, and take care of the business like it’s their own.

So what do you think? Is it time to outsource? If you want to learn how to outsource your business, comment outsource below or get in touch and I will give you the link to our webinar. Let us help you really grow your business.

The Power of Collaboration

By | Attitude, Blogpost, Food for thought, Goals | No Comments

So often in business, we find ourselves in such a lonely place. Where you know, out in the grind, out and doing what we’re doing and we feel isolated sometimes. We’re too focused, too busy with our tasks and solving our own problems.

There’s this saying that is really inspiring in a way – “There is not one thing, there is not one problem within your business that you cannot solve with the people in the room.” So true. Two heads or more is so much better than one.

And you know, those in the real estate space, it’s like you go! Go! Go! And sometimes we put our head up and we go, “Wow! am I going the right direction?”

No matter how well we have our direction mapped out for us, no matter how carefully we plan our week, month or year, sometimes we encounter setbacks and detours that we don’t anticipate.

So, what we can do is share some of the challenges, and also have our fellow team members gather around the table to actually give us advice. Allow them to give us strategies and to give us support.

Facilitating a workshop is also a great idea. Businesses collaborating together to help one another, through workshop where different ideas and different strategies are shared.

So, I think the more we can collaborate, the more we can share, the more we can grow. It is by working together, by sharing ideas that we can improve on our current strategies. We get a fresh perspective. A new way to tackle the problem.  A different set of eyes to see areas for improvement.

Each one of us bring different experiences, different strengths into the table. I might have a good idea for the business – you might also have a good idea for the business. Imagine what will happen if we combine our ideas and work through the challenges together. We are going to be unstoppable!

Entrepreneurship does not have to be a long and lonely journey. Very often, we find ourselves travelling the same road –  with some already far ahead while others lag behind. We just have to be willing to work together, to listen, encourage, and lend a hand when necessary.

Ask yourselves today, “Who am I collaborating with? Who am I working with to strategize my challenges?” 

And when you realize the importance of collaboration, I guarantee that business will improve and achieve a bigger success.

 

Succession Plan: Your Business, Your Future.

By | Blogpost, Goals, Leadership, management, Success | No Comments

Last week I was fortunate enough to present in front of around 80 business owners around “What’s Your Game?”

Succession Planning. It’s an interesting topic that most business owners don’t even want to hear about. Business owners, particularly those in the real estate and property space, are so busy being busy in the trenches and so forth. They actually don’t stop and go, “What are the next steps? What’s the next one, three, five, ten years possibly could look like? What are the opportunities that we might need to jump on in order to play that in game?”

People get so busy, so caught up in meeting deadlines, completing tasks, in short – trying to reach their goal. That’s right, people get so busy with their own goals that they often forget one important element of business – continuity.

Have you heard of the phrase “business as usual”? It means that even though there are unforeseen events that have affected the business, it still continues to operate. One way to ensure that this happens, is through succession planning.

What is Succession Planning?

Succession planning is a process by which individuals are carefully identified to pass on the leadership role within a company. The process ensures that the business continues to operate efficiently without the presence of people who were holding key positions.

It also involves coaching and development of prospective successors or people within a company or from outside to take up key positions in an organisation through an organized process of assessment and training.

Three (3) Key Areas of Succession Planning

I’ve shared a couple of secret sauces around how Ultramarathon running is very equivalent to running your business, particularly when it comes to the long game. And what I did, I shared three (3) key areas that people really need to focus on when it comes to succession planning:

  1. People
  2. Profit
  3. Property

Looking at these three (3) key areas, in relations to how you will create that succession plan – so you can walk away with what you want to walk away and start thinking about it now.

I want you to think about how do you plan for your long game? What does your long game look like? What’s your succession plan? Do you have one? Or do you need to start thinking about one right one?

I heard a little story the other day, “when was the best time to plant an oak tree? Twenty years ago. Or second best, right now.” So, start planting your oak tree and see what you can create.