Business Models: Outsourcing | The Ambition Show | Episode 31

The Ambition Show Podcast

What was once a misunderstood and looked down upon business practice has quickly become the standard. Outsourcing could be the operating model you need to start or grow your business.

Outsourcing describes when a business obtains a product or service from an outside provider, rather than handling it in-house. As a small business, outsourcing allows you to get more done and trust important tasks and processes to professionals, without having to actually grow your full-time team in a significant way.

The Pros and Cons of Outsourcing

• PROS
  • Keep Payroll low
  • Easier Tax process
  • Reduces operating expenses
  • Cost effective
  • SBA article: https://www.sba.gov/blog/10-small-business-functions-can-be-easily-outsourced#:~:text=Outsourcing%20describes%20when%20a%20business,team%20in%20a%20significant%20way.
• CONS
  • Brain Drain
  • Increase Unemployment Rate
  • Investopedia article: https://www.investopedia.com/financial-edge/0312/4-ways-outsourcing-damages-industry.aspx

How Outsourcing generates revenue

• Free up time for FTEs
• Outsourcing as a business
  • Recruiting and Subcontracting
• Referrals
  • Bring value to your network
  • Earn income from affiliations

• I grew my team into an agency
  • Outsourced SEO and Graphic Design services

WHAT TO READ “Idea to Execution: How to Optimize, Automate, and Outsource Everything in Your Business” by Ari Meisel and Nick Sonnenberg

• How to purchase the book: https://www.amazon.com/Idea-Execution-Optimize-Outsource-Everything/dp/1619615053/ref=asc_df_1619615053/?tag=hyprod-20&linkCode=df0&hvadid=266029226073&hvpos=&hvnetw=g&hvrand=7768083813816042855&hvpone=&hvptwo=&hvqmt=&hvdev=c&hvdvcmdl=&hvlocint=&hvlocphy=9021734&hvtargid=pla-439805368311&psc=1&mcid=1c643f157f1c3a70b5f0169a75d800d9&gclid=Cj0KCQjwiMmwBhDmARIsABeQ7xQrHZ_-wGpA7kgVVg5lpuO-i9WC-fRad_LYMjUf7ptaWLJMD1HG6xEaAoAyEALw_wcB

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