Get offshore leverage
I roll my eyes when I hear founders describe their business like it’s the only one on earth. Unicorns and Rainbows. It’s just an excuse to avoid change.
Here is what we’ll cover this week:
- You’re not “too special or unique” for offshoring. You’re just unwilling to evolve.
- “Not hiring right now.” Stop thinking additive, think Replacement profits.
- Your website / SEO is in shambles. Get outsourced help.
You’re not “too special or unique” for offshoring. You’re just unwilling to evolve
You are not a mythical creature. There isn’t anything you’re doing that doesn’t exist in every country in the world, serving their market. There also isn’t any role in your company that doesn’t exist in millions of other companies – from marketing to sales to customer service.
Unfortunately I meet founders that claim they have a new found level of quality, communication, ‘secret sauce’ that eliminates objectively looking at their business from the lens of margins and profits.
A corporation is a living, breathing entity that’s independent of the ownership group. If your company had an Alexa voice attached to its corporate financial statements (and could talk), it may very well tell you and I a different story than you’re telling yourself. It doesn’t care that you like someone in the company. It doesn’t care that a teammate “works hard”. Like a sports GM does with athletes, your financial Alexa would be constantly looking for ways to make Cap Space. Your financial Alexia would be leveraging AI to calculate:
Susan Gregory – Social Media Manager on our team
Social Media Manager offshore
= $48,000 net profit
Execute this for a few roles in your organization, and you have $100,000’s of profit gained this year.
Financial Alexa would have just changed your life, and wouldn’t have placated to subjective feelings about “being special”.
“Not hiring right now.” Stop thinking additive, think Replacement profits.
I get it. The market is tough right now and you’re not hiring. You’re looking at the wrong problem. The goal isn’t to add headcount or capacity in this market, the goal is to find operational leverage to increase margins/profit. Why?
There is exponential opportunities for your business as profits grow:
So before you dismiss and close your mind to evaluating talent, remember your corporate entity is asking you to find operational leverage – no matter how uncomfortable.
It’s hard to imagine replacing specific people on your team. I know. True me. I know.
But are you running a profitable business, or a charity?
If you objectively knew you were overpaying specific roles 3, 5, 10x more than the role could be successfully managed, are you good with this?
This is your money.
I’ve had to do this in some of the most critical roles in my companies. I’ve replaced a $125,000/year sales trainer, who had high NPS scores from our customer, for a sales trainer in the Philippines for $36,000. It was really hard to explain this to our internal team and customers. But $89,000 in profits @ 20% EBITA = $445,000 in sales reprieved off my sales & marketing teams.
That’s business altering for a SMB company.
Your website / SEO is in shambles. Get outsourced help.
Two (2) major mistakes I’ve made in my entrepreneur journey, and I see repeated by other founders often:
- Treat my website like sculpture, not a botanical garden
In my 1st company Sales for Life, we would have an annual meeting to adjust our website. Seriously. It was a sculpture that we would Michealagelo’s David each year, and then the next year we would basically build a brand new website. If I look back at my annual invoices, I would spend +$20,000/year:
- Build a sculpture
- Let decay
- Build a new sculpture
- Let decay
That makes no sense. Your website is the shop window for your products. At my company Pipeline Signals and Get Levrg, we are evolving the site weekly and monthly. The website sprouts and requires pruning every week.
- Asking internal teammates to fix their own mistakes
Have you ever written something, proof-read it, and be flabbergasted when someone finds a spelling mistake? It’s because we can’t see our own mistakes. We ask the very people who build and maintain our Frankenstein website to make it faster, more stable, better lead generator, etc. – but how can they evaluate their own mistakes?
You need an outside party to see what you can’t see. Hire people who have studied and built websites all around the world. This is what I’ve loved about offshore talent helping with our website. They are exposed to ideas that are truly best-in-class.
Don’t be afraid to ask for help. It’s not going to cost you anything for advice, and be exponentially less expensive than trying to Frankenstein internally.
Don’t Forget – Benchmark your team against offshore talent.
- What is the profit increase you could expect?
- What is the sales relief / reprieve you could expect to generate the same profit?
Get ready to be shocked!