You obviously can’t be everywhere or do everything. And even if you are capable of accomplishing a task, your schedule may not allow you to get it done in a timely manner. For such time-sensitive projects, bringing in an online service provider can be hugely beneficial. Along with time considerations, of course, are cost considerations. Cost-prohibitive projects may turn out to be affordable, if you work with a freelancer online where costs are established up front and overhead is greatly reduced or eliminated completely.
Despite In-House Cost Savings, Time Constraints Prevent Current Staff from Getting the Activity Done
If you or one of your employees finds that tight timelines are getting in the way of productivity, then bringing in an online provider might be the answer. Your employee could take the initiative to find, hire, and supervise their own freelancer, leaving you free to continue your tasks without interruption. Additionally, that employee’s time could now be focused on other important tasks. Of course, if you are your only employee, then outsourcing to save time becomes even more critical.
The Organization Needs the Project Implemented Quickly and Cannot Afford the Time to Retain Staff or Wait For Current Staff Time to Become Available
Urgency is the key word here. There are three main areas where businesses don’t mind spending money:
Activities not fitting one of these categories qualify as expenses. With regard to #3 – saving time – your best bet is to have a virtual team in place whom you can call on when needed. Not only will you have resources available, thus eliminating time spent advertising and interviewing, but you will also have the option of splitting the job between multiple people if necessary.
Contracting Locally is Both Cost and Time Prohibitive
Working with a local provider is occasionally necessary; however, it can also drain your budget and your timeline. Face-to-face interviews and appointments often require more time than the same activities done online. Cost savings is perhaps the more significant difference though. Local businesses generally have higher rates because of greater overhead. Online freelancers who work from home have far fewer expenses and therefore charge quite a bit less.
Outsourcing Is Cheaper Than Hiring Full-Time Staff
As previously mentioned, outsourcing to online freelancers carries a far lesser financial burden than hiring full-time staff. When outsourcing, you establish the amount of payment up front and you have no overhead like sick pay and additional equipment. The only question is how you will invest the money saved (consider using a portion for project management).
George makes custom furniture, which keeps him comfortably busy. However, he recently took on a project that is proving to be more time-consuming than he expected. He needs help tracking down the perfect accessories and ordering supplies, but his need is not significant enough to justify hiring a full-time assistant. Instead, George goes online to find a freelancer who is experienced in interior design and able to manage his procurement needs. Although he has cut into his profits for this temporary personnel expense, having an assistant has allowed him to focus his attention and get the work done on time.
Even if you have the skills or manpower required to accomplish a task, you may still be better off outsourcing. Why? Because outsourcing can save you valuable time and can cut unnecessary costs. For example, if you’re too busy to attend to a task, then it’s going to get pushed back until you can make time.
Outsourcing allows you to get the task done more quickly. Outsourcing can also save you from expenditures like additional equipment, software, and full-time employees. At times, you may have to decide which is more important – meeting a deadline or saving money.
The great news is that, typically, you don’t have to choose one benefit over the other – outsourcing usually provides time and cost savings simultaneously.