E-Workers start multiplying YOU
October 12, 2018
Outsourcing – What flourishing small businesses do … but won’t tell you
It had been a long week for him. He hardly slept for the last few days. So when his China-made iPhone (which he recently purchased in NY) rang, he didn’t think twice about hiding it underneath his Cambodia-made Egyptian sheets.
Nikhil closed this month’s sale via Skype with his Dutch production manager based in Singapore, his trusted Filipino virtual assistant (VA), and his Canadian customer who was on holiday in Kyoto. That was a huge burden off his chest. It was done. Finally.
“Everyone and everything could wait till the morning”, he thought. His Filipino VA can reply to social media messages and email before noon, while his Italian percolator brews his Vietnamese coffee grinds. It was five minutes past two in the morning and the world is literally just a click away.
Technology and globalization have changed the way we think, live, and do business. The opportunity to take a business to the international level is no longer limited to large organizations with deeper pockets. People now have access to a wide gamut of ideas, products, and services from all over the world. This is made possible by the opening of trade, the advances in infotech, improvements in transportation, and the drive to improve numerical bottom lines.
The Philippines manufactures for a number of the world’s most recognized brands – Louis Vuitton, Michael Kors, Yokohama Tires, to name a few. Sportswear behemoth Nike outsources all of its production overseas – China, Thailand, South Korea, Vietnam, and India. Apple’s iPhones and iPads are all manufactured in a foreign country. Specialized CNC machines (those machines that control other equipment and are used in every production floor), are manufactured in the Philippines. At least 40% of Cisco Systems’ workforce are based overseas.
Thousands of companies in fact, no longer produce their products at home. For good reason – outsourcing is a better option in terms of costs.
Labourers in the U.S. who work for manufacturing industries are compensated well, thanks to union protection. Moving production overseas lowers labour costs to as much as 1/10 and rental costs are non-existent. Insurance, utilities, and maintenance are lower, as well. Establishing manufacturing operations abroad is the most streamlined option of doing business. Set up and licensing can take months (from site selection to building to regulatory compliance) if done domestically. But with outsourced manufacturing, someone else shoulders these initial steps.
If you are an existing business owner OR if you are thinking of taking that leap, streamline your business process NOW.
Successful businesses have one thing in common – focus. They concentrate on core competencies and delegate non-core functions to others.
Are you taking your coaching business to the next level? Are you a sales demi-god, but in need of back support for administrative tasks?
Then outsource your non-core activities NOW.
1. Outsourcing allows you to focus
You’re only as good as the time and resources you have. There is definitely merit in having your own administrative office, accounting department, and warehouse in one place. The only downside to this, however, is a huge chunk of your time goes to overseeing operations. Outsourcing frees you up and allows you to focus on what you do best
2. Outsourcing is cost-efficient
Hiring a full-time employee can cost a fortune. Think of all the taxes, wages, benefits, and insurance costs that come with hiring full-time employees! Outsourced labour means you no longer have to deal with sick leaves or retirement benefits. You simply pay for the actual time your virtual assistant works.
3. Outsourcing Increases your efficiency
A good support team can spell the difference between a realized sale and a missed opportunity. When you hire a business process outsourcing company (BPO) or a virtual assistant (VA), you are able to maximize business efforts. Making travel arrangements, setting up meetings, coordinating everyone’s schedule, worrying about your e-newsletter’s content as well as handling customer inquiries and complaints take a LOT of time. By delegating these non-core tasks, not only are you setting yourself up for success, you avoid stress and burnout as well.
4. Last but not least…Outsourcing strengthens weak spots
Virtual assistants are no longer “just” the proverbial online secretaries. Most of them are highly trained professionals who have taken the opportunity to work from home. You will be surprised that a good number are multilingual and can handle a wide range of tasks: from managing your social media, doing a financial audit, keeping your books, and writing an e-book (among many other skills). You can find licensed engineers, designers, paralegals, and medical practitioners who work as virtual assistants.
Where do I hire one?
Virtual assistants are widespread. But with small businesses on the rise, Filipino VA’s are most preferred. Why?
1. Filipino VAs are bilingual. Since English is taught at a young age, a Filipino VA’s spoken and written English are intermediate.
2. Filipino VAs are multitaskers. Our VAs are an interesting mix of professionals. We have engineers, teachers, accountants, and small business owners like yourself. They can double as a secretary and a consultant if needed.
3. Their accent is neutral. If you need to make outbound calls, a neutral accent lessens the possibility of your customer missing the point.
4. The Philippines is home to a vast gamut of well-made products. A Filipino engineer, scientist, or professional is being many innovative products known the world over.
As with anything, nothing is perfect. Most small business owners have reservations in terms of time zone and working hours. But overall, these are tiny hurdles that are easy to work out, once a good working relationship and schedule are established.
Thinking of hiring a VA for your small business? Ask us how!