Door of Opportunity

Online Business Challenges

Some of the online business challenges you might face include a lack of advertising dollars, lack of knowledge about the Internet in general, and the overwhelming task of designing and updating your website.

Also, keep in mind that when you own your own business, you’ll be responsible for your own accounting and taxes. As with any home based business, an online business requires self-discipline and hard work. Though there are many responsibilities, the rewards can far exceed the challenges.

Mentors for Your Home Business

When you sign on for any income opportunity, be sure there are mentors available who can help you get started. You can learn from them and avoid many pitfalls. A mentor can show you how to get started with your own website, how to increase cash flow, how to build your customer base, and how to operate your business for future profits.

With some business opportunities, a mentor will be provided for you when you join. This person should be skilled and knowledgeable. They should offer proof of their own success and be willing to help when you have questions. It’s best to learn from the mistakes of others than to jump right into opportunities ignorantly.

With any online business, you’ll likely be required to invest some money at the start. Whether you’re starting your own company selling products or services, or planning to join another company to sell their goods and services, you’ll likely be required to pay a fee to get started. Consider this money to be an investment, not merely a fee. Think ahead to the return on your investment.  Start with virtual conferences from other experience business owners.

If you join an opportunity where you can earn from the investment of those who sign up under you, then be sure the investment amount and compensation amount is enough to earn a good income without scaring away new prospects. With any product or service, there is always a price threshold that newcomers are willing to pay. Be sure the company you are working with has already tested their pricing so you won’t have to waste time trying it yourself.

Set Realistic Goals

Ask your mentor to help you set realistic goals at the start. You probably won’t start out making a fortune, but with realistic goals, you’ll feel that you are accomplishing something. Set short-term and long-term online business goals. The goals should include how many prospects you should contact and how many sales you need to make to reach your goals.

Keep focused on your goals and be sure to follow the lead of your mentor. You’ll find owning a home based business to be enjoyable and lucrative once you know how to do it.

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Fast Turnover & Competitive Edge

images9SA6CFW0An invaluable tool to business growth is subcontracting. It can be used strategically to influence corporate growth and financial stability.

The key is to subcontract work which is non-essential or areas where the company lacks expertise. This frees valuable resources which can focus on areas of competitive advantage. Growth can be enumerated in many ways not just in costs saved. When you subcontract a specific project you save on time and resources spent on training required to complete the project successfully. You can harness the talent, technology, and expertise of niche providers. By subcontracting, you can appoint a consultant or company who has core competencies in the field and can complete the project within the given time. The company saves on hiring permanent employees, training, benefit payments, hidden costs, absenteeism, requirements of workspace, and equipment. The company focuses on core aspects and transfers the nitty-gritty of non core aspects to outsourced companies. This just means fast and efficient turnover as well as a competitive edge.  Subcontracting is a way to maximize workforce flexibility without the added burdens of permanent financial commitments. One uses highly qualified subs who can complete a particular project in no time at all. Time is money and by outsourcing a company saves valuable time which can be channeled productively, leading to growth. Capital is used efficiently without unnecessary wastage in overheads, office space, technology, and training.  Subcontracting spurs growth by providing skilled manpower and increased productivity at lower costs. If the subcontracting is selected intelligently, it leads to tax breaks saving the company thousands of dollars. Further, business risk is shared by the subcontracting company which will know how to minimize or avoid risk in their area of expertise. The business world is moving at a fast pace and companies need to provide quick service and low rates.  Subcontracting allows a firm to do just this, provides the most advanced technology, efficient service, and low rates. A company can, by subcontracting certain sectors provide in house support which will not be otherwise possible without expansion. So, one can gain economies of scale, efficiency as well as expanded expertise. To summarize, growth of a company when subcontracting is adopted can be evinced in:

  • Cash flow.
  • Emphasis on core competencies and long term value creation.
  • Minimization of risks by reliance on experts.
  • Using external talent and technologies when essential and keeping overheads small and manageable.
  • Infrastructure of large firms without associated burdens of large offices, greater number of permanent employees, and hidden costs of maintenance.
  • Improved process and project deliveries.
  • Service improvements.
  • Technology infusion.
  • Little or no capital investments.
  • Better project costing.
  • Asset conversion.

In the modern world subcontracting is an intelligent way of handling a growing business poised for success in every field.

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Jack Of All Trades With Subcontracting

jack of all

By subcontracting projects for your clients, it’s now making it possible for the curious or passionate to discover more about the things that have piqued their interest. This is actually an exciting component of the expert niches.  As small business continue to migrate all over the place it is becoming harder to rely on oneself to help you learn certain skills. This is where subcontracting can be helpful.

Your grandfather likely was considered a Jack of all trades if for no other reason than he had to know a lot about many things in order to survive. He would likely tinker with a failing piece of machinery and get it working again. He could patch or repair broken toys and home repairs were never subcontracted.In my circle of influence I have an acquaintance who was a farmer, railroad engineer, rancher, truck driver and fire fighter. He had a broad range of skills, but couldn’t really claim any one career as the defining example of his lifes work. He simply liked doing what he was doing when he was doing it. Thus the old adage, Jack of all trades master of none.

If, for instance, an online user wanted information about installing a word press plugin then he might find the information he needs from a virtual trainer. The exhilaration of finishing the project will likely find that individual has to go back to that site to find out how to relaunch a site, hosting or using a shopping cart.  It’s never ending.

Subcontracting opens up new possibilities for the worlds potential Jack of all trades. The want to is combined with access to the how to. The end result is the satisfaction of a completed project and the cost-savings associated with multiple service providers.

Subcontracting are allowing the non-technical computer user access to  computer geeks who can help them navigate their computers and the software applications more readily.

Subcontracting referrals allow service providers access to other providers who have been there, done that, and have the stains and sleepless nights to show for it.

Subcontracting allow the other service providers to dip into a pool of subs with a specific niche to complete client’s work.  It’s cost effective while avoiding time wasted learning the niche themselves.

Forums allow bicyclists the opportunity to learn more about care and maintenance of their bikes as well as trails they may have never considered.

Indeed, having your own service business can be fun, but it can also be overwhelming. When you, as an online businesses, keep an open mind about hiring a team you are allowing the adventurous provider to gain the opportunity to take your product and the service to the next level.

In an online environment that is centered on the needs of the customer it is important to find ways to allow those customers the greatest opportunity to make use of your product.

The Jack of all trades mentality is a long-standing tradition and you can maintain the practice through an effective team of subcontractors.

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Conquer Deadlines With Subcontracting

When it comes to meeting deadlines, one way to manage your timetable effectively is to divide the large jobs and farm them out to several freelancers.

Lets say you’ve been awarded a writing job to write an e-book on childcare with 10 chapters for $2,000 over a 45 day period of time. Bid out each chapter separately among 10 freelancers and allocate, say, $100 for each chapter over a 25 day period. This way you dont have to worry about the deadline because youve given yourself a 20-day buffer and you stand to earn $1,000 for your efforts.

If you are going to handle a project in this manner, then you must be able to rewrite the articles to make sure the entire book flows seamlessly and that the same style and tone of voice is consistent throughout.

1. Cultivate a strong talent pool

In many cases, this is the most important asset you need to subcontract work to others. Here are a few additional tips to help you out in this regard:

a) Know how to hire a good coder

There are four things you should look at when hiring a coder their resume, their samples, their rating, and their client testimonials.

The last two are critical because it is easy to prepare a bogus resume and samples, especially on the Internet.

If you look at those four things and feel you have found the person you are looking for, hire them.

b) Know how to keep them happy

A happy coder always delivers better work than an unhappy one, given the same skill level. You keep your freelancers happy by dealing in a polite and professional manner, paying them on time and understanding them when they fall or falter (and believe me, they will miss a deadline now and then). Give them respect and they will give you their best.

2. Nurture your current roster of clients

Here is the main reason why quality counts it is quality, more than anything else, that will make your customers come running back to you again and again. Always put a premium on quality. First-class work is sometimes hard to find, especially given a limited budget. If you consistently deliver first-class work, you assure yourself and your freelancers of a prosperous business well into the future.

There is a popular saying in sales which says that It is eight times easier to get new business from your current clients than it is from cold calls. In other words, make sure you ask your clients for referrals from people they know or work with who may need the service you provide.

Some freelancers hesitate to ask for referrals because they feel it is unprofessional. They feel asking for referrals is like asking for a favor. That is not the case. If you have faith in your ability to deliver good work you are actually helping your client because of your willingness to provide quality work to their friends or business associates. That will reflect well on them too. It is a two-way street.

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Requests for Subcontracting Success Stories

successI’m in the process of refreshing this resource website and will be adding a new feature called Success Stories. The new page will have a filtering engine that will allow current clients and prospects to see how other service providers have used subcontracting to their advantage in the past. We are very excited to be able to create this “digital idea book” for everyone learn from others that share their ideas, projects, and strategies when it comes to subcontracting.

If you are actively using subcontracting in some way to grow your business, would you consider submitting a success story?

I am looking for just a brief summary (6-10 sentences) of the business case, the analysis that was done, and the savings (or efficiency that was created).

Your submission should include as much detail about your own business as you would like us to post.

If you are willing to help us with this, feel free to email your stories to me at info@savvysubcontracting.com

Thanks in advance – this is going to be a valuable engine for us to grow and accelerate the use of subcontracting!

 

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Subcontracting A Perfect Part Time Gig

Running A Home Business & Working Full Time Outside Your Home

Very few people will claim they are bringing enough money home to meet all their needs and wants. Several will begin a home business to supplement their income while remaining at the full time job outside. This can take a toll on the personal life as well as the health of just about anyone running a home business and working full time outside the home.

One of the first considerations should be is the home business in conflict with the full time job as many employers will not tolerate competition from one of their employees. For example, a person working in a retail environment in nearly any capacity may find themselves in conflict with company policies if they begin an online retail outlet. Or someone working for a carpet cleaning company starting a home business offering cleaning services part time as a home business. Being in conflict often forces the employee to make a choice of keeping their full time job or finding work elsewhere.

There are many home business opportunities available that will not conflict with outside work environments, but the time involved in operating the home business will need to examined to determine if it can be done effectively while working full time. The business operator will only have limited availability as well as time to spend on the business and the time needed to run the business will have to be reallocated from another part of the day.

A person with a family will need to know that any time needed to run the home business will have to come from time usually used for family functions or just spending time with the wife and kids. The full time employer will not tolerate someone spending time on their home business while being paid so dividing the time between work, running the business and family may or may not be worth the extra income from a home business.

In some cases, there are home business opportunities that require little time and enable it to be run at the convenience of the owner. With these jobs time can be arranged in which to run the business without losing time with family and friends, although sacrificing sleep or relaxation time may be necessary. Overall, there will be some sacrifice of time and personal involvement when running a business and working full time outside the home.

Time management will be essential in creating work-life balance as well as remaining organized so as not to allow important aspects of work, home business operation and family slip through the cracks. A single schedule guiding the commitments for all obligations will be needed in order to accomplish everything that needs done and to stay ahead of the work.

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Exactly What You Need – An RFP

Send a Job (RFP) directly to our Virtual Assistant Job Board

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A Request for Proposal (RFP) is something you write when you are looking for a company to complete a project for you.

There are many benefits to writing an RFP you should know before you begin.  The primary purpose of an RFP is to inform subcontractors that your company is looking for business help and it encourages these companies to make their best effort in meeting your requirements.

In an RFP for business subcontracting you will be specific to the products you would like to use in your project.  For instance, if you want someone to schedule out social media and you want them to use Hootsuite then you should specify this requirement.  The more specific you are with your requirements and your budget, the better bids you will receive.

An RFP also forces suppliers to be realistic and factual identify your requirements when they come back with an offer on your RFP.  It also allows for a larger response to your request for business subcontracting.  It also gives you the opportunity to let the suppliers know that the process of selection is competitive.

A closed bid selection is the best way to go when you are looking at bids for your project. This way, it doesn’t allow a subcontractor to underbid another company for the project.  You should never tell a company what another company bid on the project and give them the opportunity. The entire selection process should be fair to all of the companies.

The best way to find a subcontractor is to write a Request for Proposal for the project and include detailed requirements for the project.

Request For Barter

Spend Money To Make Money

In order to make money you have to spend money.  I’m not talking about spending frivolously.  The spending needs to be an investment to take your business to the next level.  There are a ton of free resources on the web, which are great to get you started, but they won’t last forever.

Through the Solo Smarts podcast I learned to like, trust and invest in Kelly McCausey.  The podcast is free and it really got me headed in the right direction.    One of the first products I invested into was a mastermind group, Solo Masterminds.  Why you ask?  Because it was a great way to learn, network and potentially gain clients.  It took me close to six months before I got my PayPal card out to join the group.

The membership now includes full access to full version products sold outside of the membership – all together you’d spend about $400 to access them…  I haven’t mentioned this yet but probably the best news ever is this:  You only have to pay for your membership for 12 months, then you ‘graduate’ into lifetime free access.

Another thing to remember is there are a ton of mastermind groups out there.  You can belong to multiple or just a few.  I highly suggest keeping to a minimum of two and no more than five.  Otherwise your head will be spinning with ideas and your business won’t grow.

Find out more and get signed up here:

 

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The Difference Between Subcontracting & Outsourcing

ConnectionWhat outsourcing is. You pass it on. What subcontracting is. The initial service provider is in control but another provider does the work.

There are things of which one should pass on some workload for the company’s development. Which is outsourcing.  The tasks that are not income related or not the best use of the owner’s time should be subcontracted.

To buy a product from someone else and sell it to others is not outsourcing, it is mere a relationship of a buyer and a vendor. Subcontracting involves an in-depth communication process of both your or the project manager with the subcontractor. Failure of the subcontractor to meet the lead directives would mean breakdown of everybody. It is not just instructions that are necessary, it is more to giving out rules and making rules happen. To make an subcontracting business successful it roots to trust, confidentiality, and coordination.

Trust is important for the subcontracting business to flourish. The presence of trust with both the lead and the subcontractor makes them focus more with making productions a hit rather than involving themselves from negative contemplations.

Equally important with trust is confidentiality. Due to tight competition in business, there are matters that should be kept confidential by both the lead and subcontractor. Disclosing private matters will result to a probable malfunction in the business. Thus, problem will arise. It does not just affect the lead contractor but significantly, the subcontractor.

Proper coordination of the lead project manager to the subcontractor is highly vital in the a service business. Coordination gives both the contractors the ability to be responsible with each other’s task. Both should move forward when things are well-planned and well talked about by both parties.

Failure to comply with the essentials of subcontracting means fall down of the business service being performed.

Common business types that are being subcontracted are in the field of:

• Analysis of Data
• Knowledge or Research Processes
• Operations in Information Technology (IT)
• Writing
• Back Office Processes
• Recruiting
• Project Bidding
• Training

Pass it on. To pass part of a responsibility, especially a business task to a third party takes a leap of faith. Subcontracting is essential for service providers who wish to retain and gain clients in the virtual world.

How & What To Subcontract

PLR Articles: How to Choose a Good Service

By Nicole Dean

Private Label Rights (PLR) articles are hot right now. The
only problem is that many people have tried them and been very
disappointed. I can’t say I blame them. I’ve been disappointed, too.

Oftentimes, the PLR services you may have tried are lacking in
several areas. So, what makes a good PLR service and how can you make
sure that you don’t waste you money on a bad one?

Here are some questions to ask yourself before investing any money into a PLR package or membership.

1. What topics are you getting?

I mean, seriously, if you are promised 100 articles each month, but
you end up receiving a selection on Laser Hair Removal and Divorce,
when all your websites are about cooking… You just wasted money.

2. What quality are you getting?

Say you’re lucky enough to get a series of articles on your topic.
Take a minute to look at them. Are they pure fluff? I’ve paid for
articles that had no original ideas, or worse, were written so poorly
that there’s no possible way I’d put them on my website. Make sure your
PLR package contains quality articles. Otherwise, you just wasted
money.

3. How many other people are getting the exact same articles?

If 1000 other people signed up to get the same articles, are you
really receiving any value? Perhaps if you don’t mind reworking the
articles. However, if you’d like more unique articles, then you may
consider a more exclusive PLR service.

4. Does the PLR service give you any extras?

Are they offering training on ways to use their PLR articles? Do
they provide you with ways to monetize the articles you’ve purchased?
Some PLR sites will include recommended affiliate programs and training
on how to use their articles to get the most benefits from their
service.

Really assess the value you’re receiving when investing in any PLR
package or service so that you don’t end up wasting your money. I don’t
want you to make the same mistakes I did.

Author Resource –
Nicole Dean welcomes you to check out  EasyPLR.com – where you’ll find high-quality PLR articles on niches sold in very limited quantities.


How & What To Subcontract