Pros and Cons of Outsourcing - YouTube

Hi!

It's Tyrone Shum from Outsourcing Live.

In today's video, I want to share with you the pros and the cons of outsourcing and I'm

going to give you three prons and three cons of outsourcing in my opinion.

So what I'm going to share with you firstly is the pros of outsourcing.

Three things that I think are really beneficial on the advantages of outsourcing.

The first thing that I personally think that outsourcing can really help and benefit you

is it saves you time.

Time in the fact that if you were to spend your time say creating a website and to learn

how to develop it and to build it, you can actually spend that time, that extra time

instead to focus on something that you're stronger and better at.

You might be a better writer, you might be a better speaker, you might be a better marketer

and giving someone else to task or actually creating that website for you will give you

time back and saves you time and basically two things done in parallel at the same time.

So that is one of the benefits in the outs - of outsourcing or the pros of outsourcing.

The second thing that I think is really powerful about outsourcing is that it allows you for

leverage.

Leverage for growth, leverage for growing your business much faster.

And as I just mentioned, saving time is very similar to that is that you can get things

done in parallel.

Therefore say for example if you are looking to start your business now and you're at start

still, and instead of you spending all that time doing all the things in your business,

say you hire three virtual assistants to help you manage all those other three things that

you need to do at the same time and you used to also working in the business.

Just think how much faster you can grow your business compared to you to do it by yourself.

So that's a really, really big pros for being able to do that.

And that's a second pro for outsourcing.

And the finally the third pro or third advantage of outsourcing that I tihnk is that you can

get access to resources that you don't have.

So as I mentioned again, I'm going to refer to the example for all the web developing

because I know that a lot of people struggle with - as spending the technical time and

doing other things that are important and the biggest thing that I find from just speaking

to people, speaking to the market like yourself is you spend a lot of time doing technical

things that are probably not your strong skill points or skill set.

So if you can imagine, you can hire a web developer that could do that for you, you

can really get access to his skills and his knowledge that he's built up over the many

years compared to you have to spend hours and hours or days, even weeks and months learning

how to do it.

And my personal experience, even though I come from a web development background, it's

taken me three years for a Bachelor degree to be able to complete that, plus 2 or 3 years

work experience inside the workforce to be able to where my knowledge is now.

I do have a good understanding of programming but I'm still not the best in that and I still

hire my web developer to do the work for me because he has better knowledge and skill

than I am.

I focus on marketing, I focus on getting the systems implementation.

That's what my strong role is.

So that's the third pro or third advantage of outsourcing is.

All right so you can see that there's quite a lot of good advantages there.

And what I want to share with you right now is the cons of outsourcing.

And it is the fact of life, the truth of life is there's going to be the good and the bad

and why not share with you the cons of outsourcing because it is important to know if you are

deciding to outsource, it may not be for everyone.

So the first thing with the disadvantage of outsourcing is it does take time.

That's the first thing.

Time is the factor that people have to spend time to actually write the procedures or put

together a plan and give that to a person.

And it may take you time to even train that person.

You don't expect to say okay, I'm going to give you all these work and hopefully you

know exactly what to do.

It's not like that.

You have to spend training them, you have to spend time providing the information for

them, you do have to provide all those things in order to do it.

But if you are looking on the long term, it's obvoiusly great but if you're doing short

term project-work and outsourcing of that, the skill set that they do have may not be

pretty much aligned with your business.

And that's something that is a bit of a concern or a con for outsourcing, it does take time

to implement and process.

The second thing or the second disadvantage of outsourcing is yes, it can be very costly.

You might spend more time, more money and not get a result.

I've had that very, very often, very much often happened to people I know and also myself.

I've invested money into projects, thousands of dollars and nothing gets done.

And it's just not really your fault but also too, you may not have done the right thing

and followed the right procedures and got the right people in place.

So that is a second disadvantage is that it can be quite costly and you can spend a lot

of money and a lot of time to not a result.

That's unfortunate but it is a fact of life.

But if you do follow the right steps and you do find the right people then obviously it's

going to be great for you.

And then thirdly, outsourcing is not for everyone.

That's just a fact of life that outsourcing isn't for everyone.

There are going to be entrepreneurs, there are going to be business owners who succeed

really, really well by doing it themselves who just - absolutely go gun hole and just

do make a lot of money and do a successful business or have a successful business and

do it just by themselves.

But in saying that, not everyone has the lifestyle so they maybe working 60, 70 hours a week

by themselves in entrepreneurial type of business and doing a lot of things themselves and making

a lot of money but they don't have the time and the freedom that they want but that's

their choice - you know.

So outsourcing may not be for everyone and that's just the - I guess you can say the

disadvantage or con of outsourcing because - it doesn't work for everyone and that's

all I can say is you just have to set that fact but if it works for you then great.

That's where you can take it to your advantage, use it to leverage your skills, leverage your

business and to grow it much faster and I hope that just sharing with you these things,

three tips for pros and three tips for cons gives you a balanced overview and in my opinion,

I believe that the pros, outweighing the cons.

That's just the fact of life that has worked for me really well because if I didn't have

my team back in me and supporting me and doing the things that they do in my business, I

wouldn't be able to do what I currently do today.

So yeah, all right well thank you so much for watching this video.

I like to just ask if you have any questions or any feedback or comment that you'd love

to leave down below on what your thoughts are pros and cons of outsourcing and I'd love

to just start a discusion right down below.

Obviously I haven't covered everything because pros - there's so many pros and so many cons

but if you come up with something that you think is a pro or a con for outsourcing, feel

free to leave down below and let's start a little discussion and talk about it.

All right thank you so much again.

My name is Tyrone Shum from Outsourcing Live and I'll speak to you in the next video.

Bye for now.

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Until next time, I wish you success in your quest for outsourcing.