How To Outsource Your Small Business In 5 Ways

February 2, 2010 by Tyrone  

7 Comments

You may probably ask yourself, “How can I outsource if I’m still starting up?” Well, there’s already the answer to that. The reason is when you are running a small business, you are the jack-of-all-trades where you play as the worker, manager and even the administrator all by yourself. Additionally, the more tasks you do on your own, the lesser it is to maintain the productivity of the work done and in effect, less efficient results to maintain greater profits in the near future.

Do Smart Business Owners Ask For Help?

Yes, they do and everyone should realize there would always reasons to seek help to expand expertise and opportunities. For me, I admit I’ve been through all the hassles of handling things by myself but since I have started outsourcing say, my Dragonboat business, I’ve had the best relief of having the chance to communicate with the suppliers and plan ahead of time to develop my Dragonboat service while my customer support staff stays responsible in answering queries, processing orders and payments as well.

If you’re thinking I’ve been spending too much as a start, no! Generally I’ve decided to outsource since it’s just a cheaper part of investment overseas while receiving a high quality of work in less time and effort. Now, let me show you how I’ve been able to realize that outsourcing while starting up really works:

What to Outsource?

Get to this mindset: Think of the things that you’ve done during the day and what actually gets done in the long run when you outsource it. I’ll draw an example to make this easy – emails for instance has always been part of your daily routines in the business and if you thought you have always checked on the new ones, then try to realize how your virtual staff can even filter, organize and respond to them in less time in daily basis. See? That’s a big break. Start to outsource anything that goes around a routine which cuts off at least 2 hours of your day administering to friends, customers and the likes.

When to Outsource?

There are just two things: when you know everything that has to be outsourced and when you know nothing about the tasks that you are currently outsourcing. As I said earlier, outsourcing can help you maximize the expertise in the business through the expanded efforts of your virtual staff all done at the same time. When you’re not good at graphic design for example, let an expert do that for you then it’s up for you to decide on a good, better and best outputs. Secondly, you can outsource the things in which you already are good at to give your virtual staff the right information and get things done the way you wanted. Also, checking on minimal errors on your part can be a lot easier than to implement the whole project yourself.

Why to Outsource?

It’s simply because you can do other things outside of your business but can think of more ways on how to increase profits as well. Outsourcing gives you enough time to plan, draw more targets and set better strategies for your earnings. Thus, the less work you do, the more it frees up your mind to activate your plans, grow profits easier and also enjoy the rest of your weekends.

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Top 5 Tips On How To Outsource Your Business Whilst On Holidays

January 25, 2010 by Tyrone  

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These last few weeks have been the most fun and productive times in my life. I just got back from a trip over to Hong Kong and Thailand and to share with you what I did, I’ve created a little video right below here that shows one of my most memory events whilst on holidays:

The reason why I show you this event is because when I look back over the time whilst I was away, not once did I check my email or have to worry about what was happening in my business. I literally left my laptop and mobile phone in Australia and I headed overseas and just had FUN! When I came back I was not surprised to only get 32 emails that were from my virtual staff and personal friends. Last time I traveled overseas when my business was not setup with the proper systems, I received easily over 200 emails in that same period of time. What a change it was!

How Did I Setup My Business To Allow Me To Be Stress Free Whilst On Holidays?

The key is outsourcing. I have a business that has core systems in place that allow full-time virtual staff to manage and run the business whether I am working or not. I spend a majority of my time creating video content which is the heart of my business and my members appreciate this. The rest of the work that still needs to be completed, such as customer billing, technical issues and marketing are all outsourced to people I hire from the Philippines. Though, even having full-time virtual staff working for me it is still vital to have proper systems in place. I am going to share with you the top 5 tips on how you can prepare your business to allow you to enjoy a stress free holiday:

Tip #1: Plan Ahead Of Time

Within my business, delivering video content is like running a TV show and if I want to ensure that my viewers receive what they paid for, then I need to follow a schedule. The best way to look at this is if you are writing content for a blog or uploading video to an online channel website, then you need to plan at the beginning and consider what you want to deliver to your market. As the saying goes, “if you fail to plan, you plan to fail”. Before I left for my holiday, I already had created over 8 videos which will be delivered over one and a half months. That way I am already prepared ahead of schedule. The same thing also applies to virtual staff and you will need to discuss with them the necessary work to be completed over the course of the year.

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What Work To Give To Your Virtual Staff

December 21, 2009 by Tyrone  

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Are You Batch Processing Your Outsourced Work?

November 26, 2009 by Tyrone  

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batch_processing Over the past couple years I’ve been very privileged to participate in Yaro Starak’s coaching programs and learn from his teachings. Recently I’ve been listening to his audio Mindset series in the car quite a number of times, not because I don’t have anything to listen to, it’s because I want to. What I have noticed every time I listen to this series is a new idea will come to mind and it keeps me grounded in how I should be approaching my Internet business.

A specific topic Yaro talked about is batch processing and it’s an important system for any Internet business. This topic wasn’t directed to outsourcing, though I wanted to share with you how relevant it can be.

What is Batch Processing?

Let’s take a look at an example in relation to emails. Emails are probably one of the biggest distractions in modern society (sorry guys, in my opinion it is), though they are necessary because it is considered a main form of communication between a client and a business. Now you can have the option of checking your email every hour of the day and replying to people answering their questions or you can batch process them at most once a day or twice a week (ultimately this is what you should strive to achieve). What batch processing does is it allows you to process all your tasks at one time rather than processing them as they come.

Rather than answer an email straight away, which takes 5 minutes to complete and interrupt your current task, you can process all your emails once at the end of the day, that allows you to have a focused effort. So you get the emails replied to in 30 minutes compared to the 50 minutes it would have taken you if spread these over the day.

In my Dragonboat business I let customers know that I personally check my email twice a week on Tuesday or Thursday and if the matter is urgent, they need to send the request to my support team who checks the ticket system twice a day on my behalf.

What Are Tasks You Can Batch Process To Be More Productive?

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How To Handle Tax When Outsourcing Overseas?

November 24, 2009 by Tyrone  

23 Comments

Firstly a big thank you to everyone who participated in the Mass Outsource launch last week. It was a huge success and I’ve already begun teaching all the students who have joined the program. If you haven’t grabbed your free copy of Secrets Of Outsourcing Experts Revealed report yet, I recommend you do so because there’s a lot of cool resources inside.

Since the launch and the feedback I’ve been getting from the videos, a recurring question that has come up from Mass Outsource Mastermind is this:

“How do I handle tax when I outsource my work overseas (to the Philippines)?”

It’s a really good question and I can only share this from my experience. Before you read any further though, I need to let you know that I’m not a legal adviser or financial consultant in this area. Therefore I HIGHLY RECOMMEND you seek advise from experts who handle this sort of detail as everyone’s financial situation is different to mine. What I share with you below is what happens in my own business and this is a general overview of how to go about this.

How To Handle Tax When Outsourcing Overseas?

Outsourcing and Tax

In my own business I currently hire a few full time staff from the Philippines and they are paid monthly via Xoom or Paypal. Let’s take a step back and look at an example if you were hiring staff from your own country. Since I am living in Australia, normally to employ staff there would be a lot of paper work involved, from filling out a Tax File Number form, Group certificates to Superannuation forms. It becomes a real nightmare when you start to hire 15+ staff! I’ve been there and it’s not pleasant to see so much paperwork just to manage employees, let alone managing the business. In that circumstance, I would recommend hiring a book keeper to help you pay your staff, manage the forms, and all the account keeping records.

Now in Australia, every quarter I would have to pay the PAYG (Pay As You Go) tax to the government which is a percentage of income tax taken out of your employees wage and your own wage that is compulsory. The highest tax bracket here is around 48.5% and the minimum tax is around 15%. So somewhere in between there is that percentage of tax taken out from our wages. On top of this, a minimum of 9% is taken out of the total wages and paid to Superannuation (similar to a 401K), which is also compulsory.

In comparison, jumping back to paying virtual full time or part time staff overseas, there is none of these details I need to worry about in my own business. Basically all I have to worry about is paying their monthly wages on time and they sort out the rest.
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