Business Talk: When to Outsource and How to Begin Scaling
We’ve all seen the business posts that share about the importance of creating a business that’s scaleable. We’ve read the books enforcing that to grow big we have to be able to let go and delegate, invest, and outsource.
This particular issue has been one I’ve always struggled with. When you keep cash in your pocket than your company is doing exactly what it’s supposed to, MAKING YOU MONEY. It’s paying your electric bill, buying a new bag, helping you finally make that trip to Greece.
But we want to grow our business to do more than that. To do that we have to be able to outsource, sub out work, hire that employee etc…
So, I decided to brain dump to clear my head and I thought it would be beneficial to others. I don’t have the answers at all, but answering these questions definitely helped to clear my head, steer me in the right direction and have a good place to continue the conversation from.
1. If money wasn’t an Option for Growth, What Would I do with my day and how Would I grow my Company?:
For example, I’d want to sell 10x more planners, I’d have a huge accessory line to name a few.
I find so many times we aren’t thinking big because our brain won’t let us go there, but if money wasn’t an issue, would you hire 5 sales associates to get you into Nordstroms? Would you have a personal assistant because you're always running late? Taking the financial limits out of the goals and dreams was really helpful.
What money would you have to spend to make those a reality? What team would you want to build, what products would you manufacture? And what is the return on that investment?
2. What do I Always Want to Do Regardless of How Large the Company Grows?:
I love marketing strategy, product development, cultivating connections, content creation, and being the face of the brand. I don’t particularly love tedious editing, website management, and fulfillment for example.
3. What Career Goals do I Have Outside of my Current Company for Yourself?
I'm more than just Driven Day, opportunities have come my way that are surprising, I've learned skills I possess that I didn't even truly realize I had. Maybe you’re an accountant that would love to eventually be a CFO of a large corporation. Maybe you're a project manager that would love to segue into PR? Maybe your head is swimming with ideas for new companies and you get a high off of seeing an idea become an actual business. You're more than just your business or your service.
These questions gave me significant insight into my long term goals for myself, the business. Even if delegating or outsourcing certain items was years away, I had a realization of where I wanted the company to be, what my strengths were, and what potentially was needed to grow big.
Hope this helps!