When to outsource in your coaching business (and how to get started)

Transcript:

I got a question recently from someone who asked, "Is there such thing as outsourcing too early on in your coaching business?"

So I wanted to shoot a quick video. And before I answer that question, because it's a little bit more nuanced than just a "yes" or "no", let's talk about why it's important to outsource.

Why outsourcing Is so important

If you're really, really early on in your business it just might be a cash flow issue. You just might not have the cash to be able to hire someone, to be able to have a virtual assistant, to be able to hire a contractor, and that's fine. It might just be too early for you.

But the reason it's important to ultimately start outsourcing as your business progresses is because once you figure out that your time is valuable, once you realize that I could either spend an hour moving email contacts from one software to another software, or I could spend an hour on a sales call with a potential client and make $5,000-$10,000 from that, it's going to become clear that some tasks are better uses of your time than others.

You're going to start wanting to get the tasks off your plate that really you shouldn't be doing because someone else could do them for you.

That's why it's important to outsource. If you can have someone else do it for under $50 an hour, at a certain point in your business your time is worth way more than that. That's something you should consider outsourcing.

what You Should outsource first

Let's talk about other things that you might outsource. Let's talk about really specifically, what are the categories you might choose to outsource as you're getting started?

The first one is bookkeeping. This is one of the first things I outsource because I just am not that detail oriented. I wasn't good at it and also, it just drained me. There's some things that just bring your energy down. When you're doing those things, not only do those suck to do but they also take energy away from other tasks that you're good at in that drive revenue in your business.

Because bookkeeping doesn't help you get paid really, it's just something you have to do, that's a great thing to start outsourcing. I always recommend Bench.co and you can get a link to that on my page, gregfaxon.com/tools. I have a list of some different resources like that and that's at the top of them. So bookkeeping is the first thing that I would think about outsourcing.

The second thing is outsourcing very small, more menial tasks. That's where a virtual assistant can come in handy.

I have a virtual assistant, Maria, lives in El Salvador and she is awesome. For example, one of the things that she does for me is she takes the recordings from my group calls, downloads them, uploads them to YouTube and puts in the members area so that people in Fill Your Client Roster, which is my group program, can access them anytime and can go back and look at them.

That's something that only takes five or ten minutes each time I do it, but I do it twice a week. Eventually it's those recurring tasks that you realize, "I've been doing this every single week and it's only five minutes here or there so it's easy to just want to get it done myself, but I should really create a routine so that someone else could do it."

This brings us to an interesting point, when we talk about is there such a thing as too early to outsource.

If you don't have systems in your business yet, and if you're probably making under 5K a month and you haven't systematized any of your processes, it's going to be hard to outsource.

Especially with virtual assistants. One of the things that really helps them is saying, "We do this step one, this step two, this step three." If you don't have a system in place it's really hard to hand that stuff off. In order to create that system sometimes it takes some time. If you don't have a little bit of cashflow already that can be difficult for a lot of entrepreneurs.

People end up usually starting to outsourcing within the first or second or third year of their business, not kind of in the first six to 12 months. That's the second thing that you ought to think about outsourcing is smaller logistical tasks so you can think about getting a VA.

The third thing that you might think about outsourcing is to select contractors. People who are just better than you at certain tasks. For example, I have a designer who I work with. She does a lot of the graphics for my blog posts. She makes webinar slides, things like that.

I can do that stuff. I'm okay, but she's better and it's important to me to have that consistent brand image. Her name's Mollie Coons. She's great so you can look her up. There's select contractors that I've had. Someone helped me on my book launches.

These are places where people have some specific expertise...where they can focus on that and you can keep doing what's in your zone of genius...that's another great place to outsource. You have bookkeeping, small logistical tasks to a VA and then contractors like designers. Those are the three areas where you might consider outsourcing.

How To Start outsourcing This Week

Let's talk about how to actually do it. I already mentioned that you're going to want to systematize some things, make it really easy to follow, be really clear.

That's one thing you have to learn. When you're making the switch from doing everything yourself to having other people help you, then one of the big challenges is that when other people are helping you they don't know the things you know. You have to get really good at writing out exactly what you need and communicating well because otherwise things are going to get lost in translation.

The other critical piece is not so much strategic, it's more of a mindset, inner game, piece that stops a lot of people from outsourcing. My guess is if you're not outsourcing at all, or if you're not outsourcing at the level you need to, what's getting in the way is that you're having trouble letting go.

The truth is if you're an entrepreneur and if you're in business for yourself, you have a bit of an ego. You might not be cocky, but you have enough confidence to say, "I can basically do the things that I've set my mind to." That's a great thing to have but sometimes it gets in the way of saying, "someone else could probably do this too. In fact, I should let someone else do this so I should focus on something else that's better for me to be doing, like sales calls, like coaching clients, like building systems or being a leader in my business."

Something to consider is: Are you totally willing to let go? The cost of not letting go is that you're going to continue to stay occupied with tasks that are not in your zone of genius and are not generating revenue directly for your business. Every hour that you spend on those tasks, you're losing money. If you're working below your pay grade you're losing money.

You've got to learn to let go. If you can do that your business will grow a lot faster.

Greg Faxon

Greg Faxon, 2829 Connecticut Avenue NW (Apt 513), Washington, DC 20008, United States