The cost of outsourcing and getting a positive ROI

Anything you do in business has a certain amount of risk attached. Whether it’s launching a new service or expanding into a different market. Everything has a cost attached, and the key to its success only becomes clear once you’re getting a positive ROI at the end. Outsourcing is no different. The benefits are often talked about and shared, but what is the cost of outsourcing, and how can you get a positive ROI on it?

The benefits of outsourcing


I’m in no doubt that you’re aware of the benefits to be gleaned from outsourcing. But just to provide a little clarity, here’s a quick summary. Outsourcing saves you money and time. It enables you to build a team without having the operating costs of a bricks and mortar office space. And as you’re looking for virtual support, you’re not limited by location, giving you access to a worldwide network of candidates. 

But as mentioned earlier, everything has cost implications, and outsourcing is no different.

The cost of outsourcing


One of the most significant issues many business owners face is a lack of control. When you outsource, you lose an element of control over those tasks you’re handing over. 

Communication issues can be an issue. Working with a worldwide audience means things can get lost in translation. Errors can be made and delays created.

Security is a factor too. You’re placing passwords, client data and even your reputation in the hands of others. This is why it’s crucial that you set up secure ways of handling and sharing data in your business.

And then there are the hidden costs you can’t factor into your budget. This can include work considered outside the project’s original scope, underestimating the amount of time a task will take and the cost of hiring another outsourcer if the task is completed to a substandard level.

Getting a positive ROI when you outsource


So how can you get a positive ROI when you outsource? It starts with you investing in the right people. Choose those outsourcers with the right skills and experience, but also attitude and criteria for your needs.

Talking of needs, be clear on what they are. Clearly communicating your brief and requirements will help cut down on playing email ping-pong. And of course, it also helps minimise mistakes and delays.

Social media and marketing need to be outsourced. An outsourcer will work them better than you ever can. The cost of outsourcing them is also negligible compared to the time saved and the return on ROI you’ll get with your advertising, visibility and engagement. 

And finally, set up systems and processes. They’ll serve you long after your outsourcer has left and will benefit your business for years to come. You can hire someone to specifically work on the systems your business needs and implement workflows, structures, automation, and even SOPs.  

Anything you do in business is not without risk, and it’s no different with outsourcing. But if you want to get a positive ROI on your investment, you need to be aware of the costs of outsourcing but not let them hold you back. Work out where your time is going and outsource whatever tasks you can. Embrace the things you can do to improve your ROI and take the steps needed to build a support team around you.

If you need a little help to work out where your time is going, as well as the tasks you can outsource, check out The Business Booster No-Brainer. It’s an interactive workbook I’ve created to help you gain clarity on those things. It’s free, and you can opt-in for your copy here.

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