Q: I’m considering outsourcing a couple services, how would this affect my long-term value?
JT says: First, business value is driven primarily by your Adjusted EBITDA (total financial benefit). Thus, if outsourcing delivers the following, value increases:
- Greater Efficiencies
- Lower Costs
- Same or Better Quality
Second, this demanding industry often necessitates owners wearing many hats- all at once. However, just because an owner can do something, doesn’t mean they should.
Outsourcing possibilities include- Estimating, Recruiting, HR, Answering Service, Accounts Receivable, Online Marketing and Social Media. Many vendors can prove higher quality at a lower cost (and faster turn-around times), a solid combination.
Third, added benefits of outsourced professionals include reduced stress/headaches, along with a better work-life balance as you’re able to remove some of these hats. Please play some defense to protect your time and energy!
Lastly, as this trend is here to stay, it may be a terrific way to streamline operations, free up some time and energy, while adding value to your business.
Get Answers + Get Prepared = Get Retired
Have a question for JT? Don’t worry, all questions will remain anonymous! You can email JT at jt@exitstrategies360.com.
