#OutsourcingBusiness #Entrepreneurship #BusinessOwnership
Hey everyone! 👋 I have a question that’s been on my mind as I consider starting an outsourcing business. Is there shame in running an outsourcing business if I’m not actually doing the labor or service work myself? Or is this a common practice among business owners? I’d love to hear your thoughts on this!
Some additional points to consider:
– Is it more important to focus on providing value to clients rather than doing all the work yourself?
– Can an outsourcing business be just as successful and sellable as any other type of business?
– If I were to grow my outsourcing business to 30k per month, would that be factored into the sell price of the company?
I appreciate any insights you can provide on this topic. Let’s start a discussion and share our experiences! 🚀
Possible solution:
Consider leveraging your outsourcing model to scale your business quickly and provide valuable services to clients. Focus on building strong relationships with your subcontractors and delivering exceptional results to your customers. By creating a solid foundation for your business, you can potentially increase its sellability in the future.
There’s no shame in running the social/marketing/management side of the business. I would presume that there are a lot of bookkeepers that are introverts and just want to crunch the data and do the technical work all day and are completely averse to the social and marketing side of things.
Both roles are necessary for the business to sustain itself.
Hard to handle client satisfaction when you can’t address their concerns because you have no clue about the technical aspect of what you’re providing. But ya, all founders essentially stop doing technical work at some point. And that actually makes the business sell for a higher multiple because the buyer doesn’t want to do the technical work themselves anyway.
But because you’re even asking this question, I’d advise you to just get a job.
Absolutely no shame. Shame factors in where the marketing sucks, you can’t retain clients, and hire poorly.
There is a whole lot of this form of shame in to go around during the golden age of *fake it ’til you make it culture.* Such a pity there are so many shameless bastards running these places.
You’re making it sound too easy. Getting and retaining customers is the hardest part.
I went to a career fair recently and half of the people were vendors who would just outsource everything. You’re good
No there’s no shame but just make sure you’re ready to do the managing side of things as well. Delegation is really important, but you will learn quickly that not everyone is a reliable employee or delegate.
There’s no harm in learning a little yourself at a high level if you have spare time, as it will help you manage more effectively. It will be good practice for your communication skills. I say go for it.
No, if you don’t know the first thing about accounting don’t bother. Do you think you outsourcing the work will provide ‘value’ to your clients. It is unethical and you could get in big trouble when mistakes happen and don’t think they won’t because they will
shame!! (ringing of bell) SHAME (ringing of bell)
Lol
There’d be nothing wrong teaming up with a partner who is an expert in the field. If you have skin in the game, you’re affable, go to market with the right value you could get a couple of good clients and learn from that. I would choose someone to start with you.
There are CPAs who have all the skill in the world that could run a business but they can’t sell, or manage the relationship piece. Keep that In mind
Shame??? This is a werid post. Where does shame come into play when running a business???
Why is it shameful? This is a very simple partnership. They have what I want and I have what they need. It’s just like the boss and the worker, each has their own needs!
About selling the business—how does using subcontractors impact the valuation? Is it more about the monthly recurring revenue or the overall business model?
Maybe it’s a good idea. Personally I like to be able to operate the core of the business and fire anyone at anytime and do the job they did myself until I can replace them. Just don’t let anyone get leverage over your company because of lacking expertise. You could get hijacked by a younger version of myself. Then you’ll end up getting shaken down.
How do you prevent a a mutiny?
How do you know there is a problem if you don’t even know what’s happening?
How much is an acceptable amount of time to complete a task?
No, theres no shame. And no, your plan won’t work
No shame, but you’re just a middle man. You don’t bring the value, the bookkeepers do.
You’re like a real estate agent which are not shamed but kind of a sometimes necessary “evil”. Nobody really like the profession.
It “feels” fairer if the people who bring the value / do the work get the recognition and not only the person who controls access to the market.
Sure this works, it’s being done by plenty of companies. When you are successful there’s always going to be someone looking down on how and why you are successful. So shame, who cares. From the way you ask and seemingly having done no research yourself I feel uncertain if you are in a place yet where you can start building a bussines like this. Comes kinda of like our by hourly “can I get rich not doing the work” kinda post even if you said that you’ll be the customer contact.