5 potential outsourcing mistakes

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Top 5 Reasons To Outsource

  1. More Time
  2. More Money
  3. Can’t Do It
  4. Don’t Like It
  5. Don’t Want To

If you are considering outsourcing your online business, then your goal is to create a more profitable company while streamlining the workload. Taking the time to avoid common outsourcing mistakes will make the process go much smoother. Or to quote Nicole Dean of www.OutsourceWeekly.com “You must plan your outsourcing wisely. Otherwise, you’re simply throwing money into the wind.”

As with any part of business, outsourcing has its good and bad points, however if you are aware of the potential problems before hand, you increase your chances of an enjoyable and profitable experience.

Here are 5 potential outsourcing mistakes every online business owner should avoid.

1. Communication between Owner & Assistant

Whether you are outsourcing tech support or writing web design, there is a great deal of effort needed in order to keep the lines of communication open.  If you allow your workers to do work for you without communicating your goals and what it is that you need, you will find that your work will not be done to your satisfaction. Assistants are not mind-readers and do need guidance.  Take some time to make sure that you and the people you outsource to understand your expectations.  This is an important part of making sure that you get the job done efficiently.

2. Knowing Who You Are Dealing With

Most business owners who outsource will tell you the biggest benefit is the fact that their assistants work remotely. The number one problem when it comes to outsourcing, though, is not thoroughly checking out the contractor or company who is performing the work.  Keep in mind that sometimes this independence can work in the opposite direction if not taken seriously.  Make it a point to carefully interview the people you are considering working with before assigning a task or project to them. The person or company should be someone you can trust to represent your business.

3. Forgetting to Budget Wisely

In order for outsourcing to work properly, you’ll need to keep a good eye on what you are spending for the work being done. While some projects will require single payments, others may involve recurring or retainer payments and you will more than likely have some type of contract or agreement. Some of your workers may charge by the hour while others may invoice by project or expect payment based on a commission of some sort. Take the time to figure out how much money you can afford to spend on certain tasks and budget appropriately.

4. Misunderstanding Your Role as the Outsourcer

As the one doing the outsourcing, you need to understand your role. In order for the relationship between business owner and assistant to flourish, you’ll want to keep the lines of communication not only open, but clear as well. Be detailed in what you expect from your help.  Also keep in mind that you are probably not their only client and as much as you would love to have them all to yourself, that probably isn’t the case. Be respectful of their time and give feedback on their work. This will help them do a better job and respect your time in return.

Making yourself aware of possible problems that often occur in the outsourcing relationship now allows your business to grow by leaps and bounds. Don’t be afraid to start your outsourcing journey, now that you are now better prepared to do so.

5. Utilizing Your Contractor & Their Resources to the max

When you choose to outsource tasks, make certain you are using their services to the fullest capabilities and not just outsourcing for the sake of outsourcing, or splitting work between two assistants when it makes more sense to have one handle both jobs.

Sometimes you can find freelancers who are willing to work on a recurring basis or who will complete larger projects at a reduced rate in order to get and keep your business. Don’t be afraid to ask potential contractors if they have room for more than just one or two projects.

Checkout this great resource and outsource Today

Get started now at www.OutsourceWeekly.com

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Do you have any suggestions for a virtual map?

Google Maps Hybrid
Image by Telendro via Flickr

Virtual Maps are all the rage!

I received this latest video from one of my YouTube subscriptions and it’s a great explanation of how you can use Google Maps, for instance preparing for sightseeing trips and using it for educational purposes.

It would be even better if you could develop a virtual map of all your blogs and websites along with any social network hangouts. So then you could put this map on your blog kind of like a personal or business sitemap but more virtual.     Just a thought!

Maybe there is already an application out there that I haven’t found yet, if you have any thoughts …

Thanks Google and keep pushing the envelope. Google Maps Help Group

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eBay in Tough Times

There’s never been a better time to sell, the gloomier the economy the more bargains there are for everybody. This is a great opportunity to make yourself some extra cash from eBay in tough times.

How and where are the best places to look for popular products to sell on eBay; finding the right products to sell on eBay is an important factor that will determine whether you make a lot of money on eBay or not. Deciding on the right products to sell is one of the main challenges many people face.

Whether you empty out you attic or clear out your garage there’s bound to be something there that sparkles. Buying and selling merchandise for a profit on eBay is one of the best ways to make money online. Get on top of the competition and do your research, eBay has lots of useful tools and resources to narrow down the search. Research products that are popular and for which there is good demand. By selling only high quality products, you make it easy to make sales and earn profits with your eBay business.

Look at eBay and identify categories that have well-sought after products. You should sell products for which you can get a high number of bids, which in turn indicate high demand. In order to succeed in selling products on eBay, it is also a good idea that you select a handful of categories to focus on. You must also assess the prices which the products in these categories sell for. This will give you an idea on what you should pay for the products you buy if you want to make some profits when you sell these products on eBay.

You can increase the number of products you sell on eBay by buying items at garage sales. Many elderly people have valuable items that they no longer need and that they offer for sale. Buy only high quality products that you can buy at a knock down price and which you can sell for a high price on eBay. House clearances car boot sales classified ads; it’s all out there, you’ve just got to get busy.

You can also create your own products and sell them on eBay. Depending on your interests and skills, you can write e-books on a wide range of topics and sell them on Ebay. You can earn a lot of profits by creating your own digital products because you do not have to pay anyone for these products. (eBay Slap) Create the proper links from your goods so that you can redirect your customers to your own online selling space. Make sure that you read eBay’s rules, as long as the redirect link leads to further Information about the product then you are safe.

Using drop shipping can also give you a wide range of products to sell.  There are wholesalers that will sell you products and send them to the address that you tell them. This means that you do not have to carry any inventories. All you have to do when you complete an auction on eBay is to direct your customers to the wholesaler’s website who will do all the shipping.

These are just a few tips to identify some products that you can sell on eBay. All you have to do is to identify popular products, buy them at good prices so that you make a profit when you sell these products on eBay.

Have a giggle at this offering from YouTube! :~)

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Ta TA Woolies

Image by Getty Images via Daylife

Farewell Woolies, all the vultures are gathering. After a lifetime of service there is no dignity left it’s so sad. The government just sits by while Woolworths goes under. Our high street just won’t be the same.

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Market Conditions have never been better

Survey sampling
Image via Wikipedia

Market Predictions; How you can benefit from a keen sense of salesmanship. How do you reckon the big players in world markets stay ahead of the game in tough or buoyant market conditions?

Whether you correctly forecast the increase or decrease in demand for a particular product, you can profit from both scenarios.

The Starting Point

Unless you have access to expensive market forecast data, you can use less expensive historical data to generate your own forecasts. There are various options to obtain historical data; methods can include conducting your own targeted questionnaires and observing demand trends in your area, by asking family, and friends.

Whichever method you choose, if you can correctly predict the demand trend for a product, you stand to gain from your correct prediction, whether the trend is upward or downward.

How to gain from a future increase In demand

Basic economics explains that an increase in demand for product A will result in an increase in its price. The more people want product A, the higher product A’s price will be.

Let’s say you are predicting product A demand will increase next month. If your prediction is correct, by purchasing and stocking product A today you stand to gain by reselling it next month at the higher price (theoretically, even if you purchased product A today at retail price, you can gain by reselling it at next month’s higher retail price). A good example of demand led price increases is game consoles at Christmas, which experience a huge demand surge during this period, and a correlated increase in price.

Another factor that can lead to an increase in the price of a product is shortage of supply. The lower the quantity available for resale the higher the price of the product will be. Supply is naturally related to demand.

In summary, if you can correctly predict a future increase in demand for product A, by purchasing product A today and reselling it once demand has increased, you stand to gain from product A’s future price increase.

How to gain from a future decrease in demand

Just like a product’s increase in demand leads to an increase in its price, a decrease in demand leads to a decrease in its price. The advantage of a slump in demand is that you don’t have to predict it (unless you are already holding stock of the product). What you will have to predict is: a) how long the low demand will last; b) when will it reach the bottom; c) whether and when will its demand increase again.

A good recent example is luxury goods: in some parts of the world buyers are delaying purchases of luxury goods to more certain economic times. Due to this lower demand, prices for certain luxury goods have decreased. By buying lower priced luxury goods now (or as soon as you start noticing that their prices are increasing again) and reselling them once demand picks up again, you stand to earn the difference between today’s lower price and tomorrow’s higher price due to a resurgence in demand for those goods (Christmas will certainly see an increase in demand for quite a few luxury lines).

In summary, you can profit from a product whose demand has slumped, just as you can with products that are about to experience a surge in demand. Your experience, access to the right information, ability to hold stock for variable periods of time, and market research will all play a part in increasing the likelihood that your predictions are correct.

So to wrap up; when you experience a decrease in overall demand, it is always a good idea to evaluate where new opportunities have arisen. With Christmas approaching, there are certain products which will undoubtedly increase in demand, regardless of market conditions. Now is the time to evaluate your options and act on these new opportunities.

Use these sales principles wisely and profit!   Feel free to leave a comment, Thanks’ for reading

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