3 rules that have saved me time and headaches as a Millennial Entrepreneur.
As a Millennial I get tips all the time on how to run my business. Here are 3 rules that have saved me time and headaches. Sometimes money.
Almost anything can be done with more skill by someone else in another country for much less. My key to success with outsourcing is to understand the basics. I need to know enough to tell when the people I hire are doing a good job. If I don’t know much I hire someone with a proven record. Most tasks are taken care of quickly and easily with websites like UpWork.
However, it is not so easy to figure out what areas you really need outsourced help in. Yes you can pay 2000$ to have a good usa based firm do the work. For 500-1000$ you can get some fine gentlemen in India to do the same thing.
This is probably who your SEO, Webdesign, App makers and hundreds of other firms are using anyway. Like I said above if I don’t know anything about the job I always hire the expensive guy. It does not have to be said that not all the cheaper ones know what they are doing. High turnover can result if you don’t hire the right people to begin with. In SEO if you hire the wrong guy he can get you penalized with google which means you will have to pay more, later to fix.
On the day to day busy individuals get more done by using a Virtual assistant to do emails, or many other daily tasks. In the past have had them Comb through my CRM for people I needed to get in contact with. Give me a regular report on who my audience is across all platforms. Making my linkedin profile look active. I got new business on all these and costs me very little.
After working with so many talented people It was a harsh reality to learn my ability to speak American English is my most valuable skill right now. In the past, a very good research article would take me half the day. 3-6 hours depending on how much I liked the topic. Now I spend 15 minutes outlining what I want, send it to my writer. Later when they finish, I take 30min to an hour making it sound like an English speaking writer did the whole thing. I can gain the same $ value from the work and only spend an hour of my time plus the 15-20$ dollars I spent to have it drafted. This increased my income and has increased my ability to get my name and reputation out there.”
Collect your Data
Keep track of all the data you can! Even if you don’t use it now, small bits of data could provide critical insights into what needs to be done in the future. An expert you hire to help you grow your business will be able to make uses you have not thought of.
Tools you need to be using right now include google analytics and google webmaster tools. How many emails/calls/texts you receive (at least approximately). Where you are spending your money. For new businesses this can be hard. Make sure to use software or atleast excel to keep things straight.
When first making websites, I paid very little attention to goals on my analytics. Yes I setup basics, but did not take the time to do the full work. This is before I did a few years of door to door sales. My philosophy was to get as many people as I could. Make it look nice then just be happy with what I got.
After many sales I learned the value of tracking what works in your sales pitch. Recently I started with a client that set up goals correctly, but did not use that data. Because he had the data, in an hour I was able to create A/B testing. After a week I doubled the number of lead captures on the page, and a 10% drop in bounce rate.
Do you do more than a couple sales a month? This means using sales software. I recommend ZOHO, Hubspot, or Sales Force.
Tripple all your budgets
The rule is pretty obvious. If you don’t have experience of how much things will cost, go find experts and ask. Chances are you will be able to find somebody that has already made these mistakes. Many times I find people are more then happy to help you overcome small challenges.
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