Stop Functioning in Your Dysfunction

[shayla2004]

Hi, all! I guess this is a PSA for all entrepreneurs, including myself. Please don't function in your dysfunction. In other words, do not continue getting negative results from something you don't know how to do or understand. For example, if you are not good in sales, marketing, or distribution, outsource that part of your company to others. Trust me. If you invest a little money for great service, you will truly be happy in the end and it may increase business sales.

Here's a personal story. I am good at marketing and public relations. I have managed to get myself in several national magazines: Teen People,Seventeen, Better Homes and Gardens, Black Enterprise, etc. I also write press releases and create marketing plans for others. However, I outsource help for booking my speaking engagements.

We can't learn everything and be great at everything. Let's work together to help one another. Spending a little cash on something you don't know can pay off big in the end.

Thanks,
S. Price
info@iambuzzworthy.com
BuzzWorthy Public Relations
Every Business Deserves Attention!

[akula]

dude, "Trust me. If you invest a little money for great service, you will truly be happy in the end and it may increase business sales" is not a good pitch
just do three dot points on the features and the benefits of what you're offering
simple

[shayla2004]

dude, "Trust me. If you invest a little money for great service, you will truly be happy in the end and it may increase business sales" is not a good pitch
just do three dot points on the features and the benefits of what you're offering
simple

I wasn't trying to pitch. Sorry for the confusion.

Shayla

[BusinessAdviser]

I do agree that you should objectively (if that's possible) evaluate your strengths and weaknesses, focus on your strengths, and outsource your weaknesses.

Just to demonstrate in an oversimplified way, say there are two parts of your business: sales and production. Let's assume that, if you had an unlimited supply of products, you could sell 60 of them in one month for $100 profit each. Now, you are much better at sales than production, but you can still produce them, it just takes you a long time. As a result, let's say that you can only produce 30 of them in a month. As a result, you are twice as efficient (or just simply better) at sales than production. The most money you can make on your own in this scenario then is $2,000 in profit. This is because you will be able to produce 20 (which will take you 20 days), and then sell all 20 (which will take you the remaining 10 days of the month). $100 x 20 products = $2,000.

Now, if you can find someone who can produce the product more efficiently than yourself, able to keep up with your 60 a month sales, you would actually be better off by paying them any amount up to $67 dollars a product MORE than you were to produce each product yourself, and having them produce it. To demonstrate, say that, even though it seems expensive as hell, you need to pay someone else $50 A PIECE on top of the cost of the materials (which you were incurring anyway). Should you do it? Hell, yeah. Your profit margin drops from $100 to $50 per item. However, you are now able to sell 60 items per month, as opposed to only 20, and generate a profit of $3,000 ($50 x 60 = $3,000). The result is that you are better off by $1,000. Though this doesn't seem like much, it is a 50% increase in profits, just by recognizing your strengths and weaknesses, and allocating your resources to make the most of competitive advantages.

Though this is common sense to those of us who have been to the first day of a college Econ class, many people are unaware of the advantages of outsourcing aspects of your business which could be more efficiently performed by someone else.

[BusinessAdviser]

I think anybody will agree. Problem is a lot of us can't afford to pay anyone, let alone experts!

The practical side is more complex than the theoretical side, of course. Obviously if you aren't capable of doing something, than you'll HAVE to hire someone else to do it. However, where you are trying to do everything that your business requires, consider outsourcing your inefficiencies, based on a calculation such as above. If you're in the situation above though, which is what it looks like you're getting at, you'll be able to show your proven track record, and simply enter into a contract. Nothing too difficult at all.