Are you working ‘in’ or ‘on’ the business?
Research by Business Owner Advisory Board, The Alternative Board, found that the average business owner spends 68.1% of their time working ‘in’ their business on day-to-day tasks, and only 31.9% working ‘on’ it. This imbalance in favour of operational tasks can leave little time for the strategic aspects necessary to drive growth.
The secret to unlocking greater capacity is recognising where your time is going and taking steps to make better use of the opportunities available. Here are three simple steps that can help you master this process:
1. Outline how you would like to spend your time
It is important to create a plan of action that outlines how you would like to spend your time. To begin, determine what tasks need to be done to reach your business goals. This could include developing marketing strategies, researching potential investments and partners, planning resources, or creating content. Set clear and realistic objectives around these tasks, and determine which tasks are critical for you to prioritise to complete.
2. Conduct a time audit
Make note of where you and your teams’ time is going daily. Online time-tracking tools like Harvest and Toggl can help you easily track and analyse where your time goes. By conducting a time audit, you will gain an accurate understanding of the tasks and activities that consume most of your working hours. As well as how this compares to your vision on how you would like to be spending your time.
3. Learn to delegate – or outsource
It’s likely your time audit will reveal that much of your day goes towards important but simple, operational tasks – for example emails, dealing with customer enquiries or invoicing. Delegating tasks will allow you to share the work with others and free up valuable time for more important tasks such as strategizing or improving operations.
However, in many businesses, staff are already spread thin, and the cost of hiring more support locally is out of the question. Building global teams has emerged as a strategic way for businesses to grow their capacity. At a fraction of local cost, you could find highly qualified staff internationally to take on the roles you and your team – can’t.
5 roles that can be filled with offshore staffing in 2023.
With rising employment costs and local recruitment tensions – building a global team is the solution hiding in plain sight. With remote work the norm for businesses globally, outsourcing any professional service role is easier than ever. Here are just five that could help you boost your growth in 2023:
- Virtual Assistant: A virtual assistant is the ultimate all-rounder. These versatile professionals can provide administrative, technical, and creative services to businesses. They can handle a wide range of tasks dependent on your needs, ranging from managing calendar appointments to customer service, research and more.
- Executive Administration: An executive admin assistant could be the secret to managing your workload and making sure calls, emails, and other day-to-day tasks don’t get forgotten.
- Customer Service Representative: Investing in customer service resources can help ensure that your customers are always happy and engaged with your business — an experienced customer support team can reliably manage an influx of enquiries with ease.
- Accountant: Investing in an accountant can be a great way to minimize time spent handling your financial needs, leaving you more time to concentrate on other vital areas of your business. It’s also a great solution if numbers aren’t your strong suit and can help fill this skills gap. Providers like us can help you find accountants offshore, with accreditation in your local market.
- Digital Marketing Specialist: Hiring a qualified marketing professional can help you craft effective campaigns, create engaging content, drive more traffic to your website, monitor trends, and increase sales — all without taking away from your own time, or requiring you to learn a new skill set.
At Staff Domain, we help business owners worldwide realise why offshore outsourcing in Australia or the US has emerged as a strategic move for business growth. There’s no better time than now to invest in the people that can help you achieve your 2023 goals.
Book a free strategy call with a Staff Domain Specialist and uncover the opportunity for your business. We’ll provide you with a growth pack detailing full pricing, recommended roles and a job description – all obligation free. Book a consultation now.