How do I decide if I need to hire help or subcontract work?
Deciding whether to hire help or subcontract work is a pivotal choice that can significantly impact your business. Here's how I’d suggest approaching it based on my journey from corporate life to freelancing:
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Assess Your Workload: When you find that your workload is overwhelming and begins to impact the quality of your work or your personal life, that’s a strong signal. Keep track of tasks that drain your energy and take more time than they should. Are you consistently staying late to finish projects, or perpetually playing catch-up? That's a red flag.
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Identify Your Core Competencies: Focus on what you’re best at—those parts of your business that truly require your unique touch. For example, if you're a content creator, your creative vision might need to stay front and center, but scheduling and administrative tasks could be outsourced.
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Cost vs. Benefit Analysis: Consider the financial implications. Can you afford to hire help or subcontract? Weigh the potential increase in productivity and income against the costs. Often, investing in assistance can lead to greater profits because it allows you to focus on high-value tasks.
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Trial Phase: Dip your toes with a smaller project or task first. This could mean hiring a virtual assistant for a few hours a week or subcontracting a single project. This experiment helps you gauge compatibility and efficiency without a long-term commitment.
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Framework Application: Use my Capture, Develop, Expose framework to decide. Capture the tasks that consume your time, develop a strategy for which tasks you can delegate, and expose the benefits of this adjustment not only to increase your business revenue but also to enhance your quality of life.
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Redefine Success: Ultimately, it's crucial to redefine success on your terms. If delegating work allows you to achieve a more balanced life, better client relationships, or more time for creativity, then it's a step worth taking.
Remember, it’s okay to pivot if your first hire or subcontracting partnership doesn’t work out. Learn from it, adjust, and continue building a support system that aligns with your business goals and personal values.