Outsourcing the Right Way by Creating a Talent Pool
Outsourcing your work is NOT about cost-cutting. If you believe it is, you have a 90% chance of getting exactly what you paid for. Garbage.
Business success starts with having the right people. And outsourcing is about finding people who can do something better than you can, (and that’s where the cost savings really come from). If you approach outsourcing as a search for talented people, you’re creating a mindset that opens up real opportunity.
It’s no longer about getting the cheapest junk at the cheapest price.
The Right People, Right Here
I like to include graphics with my posts on Zoomstart because they add a lot to a post. I can do a lousy illustration in about 10 or 20 minutes. It takes me well over an hour to do a good one. And that eats up a lot of time that’s better spent writing and networking.
So I started buying stock photos for a dollar or two. I get great stuff from a world of talented people. And the time I’m saving is worth much more than the cost.
Leveraging your own Talent Pool
There are 5 things you can get from a great talent pool. If you get 2 or 3 of them at a time, you know you’re on the right track:
- Time. Every venture has its core priorities. There are other things that are important, but they take a lot of time away from the core priorities. There are talented people that can do these things in a fraction of the time that you can do them. Find them.
- Quality. A good reason to do something yourself is to maintain the level of quality. But there’s always someone who can do something you need to do better than you can do it. Find them.
- Capital. Vertical integration (doing more yourself) can save you a ton of money. But there’s a cost to building the infrastructure you need to do more yourself. And that capital is often better used if it’s invested in your core priorities. Someone else already has the infrastructure and the expertise. Find them.
- Scalability. As you grow, you have to do more of whatever you’re doing. If you can’t build the infrastructure or bring in enough talented people fast enough, it’s easy to hit a wall. Someone out there already has the capacity to meet your growth needs. Find them.
- Reach. Networking is about who you know, and who knows you. Doing more business with other people leads to doing EVEN MORE business with other people. It helps you get known. It expands your network. There’s someone out there who needs you as much as you need them. Find them.
Outsourcing your work by tapping into outside pools of talent will help you do more. Faster.
And in the long run, yeah, you’ll still cut your costs.