Being a solopreneur is a bit like being a superhero. You have to do all the things yourself, and you have to do them perfectly. After all, your small business is your baby, and nothing less than the best will do.
So, instilled with passion and a desire to make your mark, you might have an excellent beginning. However, eventually, you will realize that you also need specialized assistants. Just like superheroes need sidekicks, you would need people who can perform several daily tasks – that are not core to your business.
You can either hire an assistant in-house or take the outsourcing route. Making the right choice based on available finances and business goals is vital. In most cases, compared to in-house recruitment, outsourcing is considered a better option for solopreneurs. But, it can only be productive if you know how to avoid the demons found on the route to achieving business success.
How Can Outsourcing Help Solopreneurs Dream Big and Set Up Their Businesses?
Since most solopreneurs don’t have the cash to burn, in-house hiring is not a lucrative proposition for them. If things go south, you will run out of capital before your business takes off. Cost-effective outsourcing will give you time to develop your business, leave room for error, if any, and most importantly, still give you chance to come back if things don’t work out.
Most successful businesses are byproducts of many failed enterprises, so it is essential to have a cushion that comforts your fall. Outsourcing manifests itself as that much-needed cushion for solo entrepreneurs. It is an enabler for ‘The Ones’ who want to realize their big dreams.
Below are some ways in which outsourcing helps individually-owned and run businesses:
- You don’t trade time for money; you trade time for financial freedom: When you are a solopreneur doing every task by yourself, you don’t own a business but essentially own your ‘job’. Yes, you are in charge, but you are simply trading hours for money, which is just another type of job. Outsourcing to a cost-effective company allows you the freedom to hire employees, which might not have been possible otherwise. Eventually, you gain financial freedom when you have a full-fledged outsourcing team in place. The sweetest part of the deal is, you spend less time working ‘in’ your business and more time appreciating the efforts of your outsourced employees and counting cash.
- Get Access to Elusive and Niche Expertise: It might be a cliché in the outsourcing world, but it is a reality. When you outsource, you get experts to do a job you can’t do or prefer not to do yourself. Even for successful solopreneurs, it is almost impossible to find dedicated in-house experts due to a shortage of funds. So, access to specific expertise is nothing less than gold dust.
- Massive Savings with Zero Employee Liability: Every penny saved by a small business entrepreneurship is crucial because it doesn’t have the cash reserves like the ‘Big Boys’. Moreover, solopreneurs can’t afford to be held liable for their employees. A disgruntled employee filing for a lawsuit is every solo business owner’s worst nightmare. Outsourcing eliminates employee liability and provides complete peace of mind. Moreover, you can hire employees with different skillsets at a fraction of the cost of in-house employees with similar skills.
Avoiding the Demons of Outsourcing to Become a Successful Small Business Entrepreneur
Given the number of benefits solopreneurs can avail from outsourcing, their relationship is like a match made in heaven. But, if you look at all the small business entrepreneurship outsourcing options, you would realize that many demons can play spoilsport in this perfect marriage. Let’s look at some of these demons and how you can avoid them to attain success in an individually-run business endeavor.
- Below Expectation Service Delivery: Not all outsourcing companies are created equal, and below-par service delivery is a genuine concern for entrepreneurs. Therefore, you should hire outsourcing companies with a robust proven track record, tangible proof of credibility and past successes and experienced employees. At their best, an experienced employee will be an asset. But, even when they are average, veterans will outperform newbies who are likely to make mistakes that a solopreneur simply cannot afford.
- Lack of Confidentiality and Data Security: As we move towards the digital age, the value of data far outweighs the value of commodities (in most cases). Almost everything is done within the confines of cloud-based ecosystems. Modes of authentication, security parameters, and network encryption are just as important as the ethics and righteousness of the workforce.
When outsourcing, you need to be absolutely sure that your data is stored securely. If your customers’ data is revealed to unscrupulous parties, you run a real risk of losing their business. Also, if someone hacks into your systems and steals financial information, you can say goodbye to your business. So, it is crucial to partner with a company that values data security and keeps it confidential at all costs.
- Unable to Inspire Employees: The biggest reason why companies prefer in-house employees is that they are able to see them face-to-face. But when you outsource, you don’t always get that option. So, it is essential to choose up-to-date modern outsourcing companies that let you connect with your remote employees via video calls for as long as you want. Top outsourcing companies even allow you to pick and choose your employees from a vast talent pool. So, if you select enthusiastic employees and stay connected daily, you can motivate them and get the work done, just like you would with your in-house team.
- Changes at the Outsourcing Company: Hiring employees after extensive interviews and seeing them go is never ideal. However, when you partner with leading outsourcing companies like Virtual Employee, you will never have to worry about looking for a replacement. Their recruitment team will ensure that someone else is always ready to step in and continue the workflow whenever an employee takes a break or moves out. Their managers can further ensure that you don’t have to keep training them over and over again.
Find the Tasks to Outsource to Maximize Returns
Most solopreneurs have limited cash reserves. Therefore, they need to be selective while outsourcing business processes. Initially, it is crucial to outsource only those functions that you simply cannot manage yourself. But as the Return on Investment (ROI) rises, you can expand your outsourcing sphere and find more employees to handle other tasks.
Let’s have a look at some of the outsourcing tasks, based on their priority.
Remember: The priority may vary based on a solopreneur’s skill level and expertise in different fields.
Graphics Design: Sheer Volume of Work Makes it a Prime Contender for Outsourcing
Graphic designing is one of the most significant requirements of modern-day businesses. No matter who you are, you would need quality graphics to look good and stand out in the online space. Due to the sheer volume of graphics design work, it is advised that you outsource it before any other function (unless you are a graphic designing firm).
Website Designing: A Vast Domain with a High Level of Technicalities
If you have started your solo journey with a WordPress website, you would have to think about moving on to your own website. Yes, WordPress is great for starters, but the potential of your online business can be taken to the next level when a professional designer gets in on the act and creates a customized one for you. Since this task involves high-level technical understanding and can be extremely costly when done in-house, outsourcing can be a great alternative.
Content Writing: Requires Innate Talent for Best Results
We understand that you may want to write every website article, blog, social media post, and email newsletter as it is natural for entrepreneurs (especially solopreneurs) to want to communicate with their customers themselves. However, in the long term, writing can become a chore. It would take away most of your time. The worse thing is that if you are not feeling it, you will not be able to write anything at all. But if you have a talented professional writer in sync with your business vision, you would no longer have to worry about churning out content day after day. We strongly recommend that you stay away from AI writing tools as they can flatter to deceive and offset all the excellent work you have done by making factual mistakes in places where you least expect them.
Digital Marketing: A Complex Activity that is Crucial for Online Businesses
Digital marketing is an elaborate process that requires research, planning, and execution. If you take this task upon yourself, you won’t be left with much time and energy to perform other business-critical tasks. Since you cannot skip digital marketing, it automatically becomes another prime contender for outsourcing.
Other tasks you can outsource when your ROI increases are:
- Social Media Management
- Email Management
- Video Editing
- Accounting, Taxes, and Bookkeeping Tasks
For every solo entrepreneurship building a business, outsourcing is a popular choice globally. Developed countries like the US are already home to many solopreneurs competing with the big boys through their sheer tenacity and outsourced teams. Although outsourcing is a wonderful option for solopreneurs, it does present some challenges that can inhibit the growth of a business. Thankfully, there are many well-established, and reputed companies like VE that have the right solutions for all niggling outsourcing challenges. By partnering with a reputable company, you can develop a fantastic relationship and avoid all demons on your way to business success.