Outsourcing Increased My Productivitiy By 200%

Recently I’ve been testing some new ideas with “outsourcing” for Internet Business Path and from what I can gather, it’s been able to increase my productivity by at least 200%. What I did before outsourcing work to people was to create a mindmap of what the business needed in order to grow and continue to run without my input. Below is the mindmap of my businesses in it’s simplest form:

If want to create one, a really good software to use is FreeMind. It’s very easy to learn and very powerful for any business because it allows a business owner to laid down their ideas in a logical path. Since applying a mindmap to my business I’ve been able to design the system to increase my productivity by 200%.

How Do I Outsource If I Don’t Have The Money?
Firstly let me say, if you don’t have the money to afford $3 – $5US an hour to pay someone to handle your tasks that needs to be done repetitively, then you shouldn’t be in business. Okay, I’ll be fair and tell you this: I had the mindset previously to do everything myself because it was always about not having enough money. I know how you feel when you first start running an Internet business or is still a one man show, but it’s having the courage to step out of your comfort zone and learn to delegate tasks to other people to do. It’s not going to be perfect at the beginning, but with a little training, some trial and error and time you will be able to leverage your time and increase your productivity.

Outsourcing Administrative Tasks
An example that I’ve been able to outsource for $3 US an hour is the ability to get my virtual assistant to check and reply to customer service emails every second working day. Provided that I have given the guidelines and information for how to respond, I have eliminated at least 10 hours a week of my time that I used to spend replying and following up emails. When you think about it, it only costs me around $30 US for a virtual assistant to free up 10 hours of my week. Isn’t that worth the trade off when my time is worth $500 per hour? There are many other examples I could give you on how to outsource your work, you can read more of it in my Internet Business Blueprint report.

A Web Developer Will Solve All Your Website Issues
If you’ve read my business timeline, you would know that I graduated with a Computer Science degree from UNSW. Even with a degree in Computing Science I’m still not a good programmer and I choose not to be. I would rather leave the technical issues for a web developer that I can hire on an ongoing basis and pay them to work on my projects. It would take them a couple of hours to do something that would take me all week. Hence the websites I design and this blog you are reading has been designed by a web developer I hire and I simply project manage the process to achieve a great result for my clients.

A Bookkeeper Will Keep The Tax Office Happy
If you’re like me and hate seeing piles of invoices and accounts unreconciled, then I know you would hate book keeping. It’s a crucial part of your Internet business and without it there’s no way to measure how well your business finances are doing. There are systems that allow you to keep track of your business online, but not all of them are compatible with the tax laws within your country. Therefore I still purchase accounting software that is meeting Australian standards, such as MYOB Accounting. I hire a book keeper to help make sure my accounts are up to date and to generate reports to show me the financial health of the business. I hire a book keeper on a monthly basis where I can have all my paper work batched and she will enter the information at one time. She makes sure that my books are up to date and tax is paid on time and I don’t get calls from the tax office. She would save at least 20 hours + a month of book keeping that I would have had to do myself, all for the cost of a dinner with my partner.

I’m Still The Writer And Internet Marketer
I love writing and expressing my ideas on Internet Business Path and will continue to do so for a very long time. I found that it’s a great way to communicate with people from all over the world and I love receiving feedback and comments. I do this because I’m passionate about Internet business and if you know me I usually share my ideas with my friends and family most of the time. I could outsource the writing to a ghostwriter quite easily and let someone else do the marketing, though I have learnt that these are my strengths and communicating and promoting my business is my passion.

Tyrone Shum
Outsourcer

Getting Started In Your New Internet Business

I always think it’s fun and exciting to start a new Internet business. I know for me that I would do something that I’m interested and passionate about. Otherwise the new venture doesn’t last for long. As it’s just as important to have passion, motivation and interest, there are a few areas that help me succeed in business.

Promoting Your Internet Business
I would call this the “show me the money” part of the business. Without money or income, there is no business. Therefore it’s important to promote your business and turn your promotional activities into sales. At every opportunity, try to promote your business through passive means: e.g. through your stationary, letterheads, emails, brochures and any other promotional material you may use. Even if it’s just an article you write for a directory, remember to put your website address at the bottom of it. In the past, I made stickers of my logo that I could easily stick on my products. Also I made sure that every email I sent out to a customer had a company logo in it. This all helps with creating the brand for the business.

It’s crucial to develop a marketing plan that will not only sell your products, but also your brand. Here are some other articles I recommend to read to help you promote your Internet business:

• Spreading The Word: Turbocharge Your Traffic
• Converting Traffic Into Sales Part 1: Generating Leads
• Converting Traffic Into Sales Part 2: Profiting From The Back-End
• 12 Sales Effective Marketing Tips

Operating Your Business
This is the “lifeblood” of the business and I’m amazed at the amount of businesses that still operate without having good systems in place. An electrician I use from time to time asked me how I maintain my book work and said he doesn’t know how to do it. I was shocked because I’d known him to be trading for over 2 years and he probably doesn’t know how much money is being made in his business or let alone lost. What I am saying is to not be like my Electrician friend and make sure you buy an accounting software to track all your accounts and paperwork. I would suggest hiring a book keeper because it will save you the hassle and time of doing it all yourself. Some good software packages out there that are under $500 like MYOB Accounting and QuickBooks will be more than sufficient when you start out.

Another area that most people forget or get caught out on are getting the appropriate insurances for your business. The most common are public liability insurance, fire, burglary, vehicle and workers compensation insurance. All these can be easily found via a quick search on Google. I would recommend ensuring both public liability and fire insurances are in place before even running your business.

Keeping Pace And Staying Up To Date
This may sound all too overwhelming when you have to promote, operate your business and keep up to date with your industry. Believe me it’s not as hard as it sounds. Take the first step and join a trade association or your local Chamber of Commerce. You will find it both informative and beneficial to your business. To know what is happening in your area and within your industry can help you make better decisions for promoting your product or service. Whether it may be time to change a product line or add more services to your business, you will be keeping up with the industry and making sure you are not missing out on opportunities. Also it’s a great way to network and promote within your trade associations and Chamber of Commerce. Simply write an article to contribute and it can be used as great public relations (P.R) for your business.

Also I emphasise to have a well prepared business plan created before starting your business, because this will be your starting point. A business plan is useful for so many areas for your business from sourcing finance to implementing a growth strategy for the next 5 years. Once it’s written down, it will become a living breathing document that you can update and review over time. I’ve just finished preparing my business plan for this business which took nearly 3 weeks to complete but I can tell you that it is well worth the time and effort to do. Learn how to put your own business plan together and I can guarantee you that you’ll get finance and negotiate business deals much easier.

The Future Of Your Internet Business
Starting your Internet Business is rewarding and if you look into those areas I have mentioned, then you will have a good foundation to running a successful Internet Business. Take action today and know that you deserve to live your dream.

Tyrone Shum
Internet Business Coach