Lower Operating Costs by 90%

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Globalism is here but its impact has not truly been realized yet. Many companies just are not aware of the opportunity that is available to them in resourcing large portions of their costs to outsourced inexpensive freelancers. I do it and you should consider doing it to.

Jeff Bulla's recent post on lowering operating costs by 90% reminded me of just how important this strategy is and I've included some of his observations from a few recent participants in outsourcing solutions here. I originally became familiar with the notion from Tim Ferriss' (shown above) Four Hour Work Week. Every business today needs to understand how accessing outside resources can help them to grow faster and create more professional results.

You might want to check out Yvonne Adele the CEO of Ideas Culture and Matt Barrie the CEO of Freelancer.com.

Yvonne launched a service which is titled “Ideas While You Sleep” . This is how it works.

If you have a business challenge and you would like the global community to help you find some ideas (brainstorming) to help you answer that challenge then you do the following

  • Submit your business challenge at 4pm your time
  • You receive around 100 ideas at 10am the following morning

The tools for communicating and enabling this mobilization are  Twitter and Google Docs and what you obtain is a large range of inspiring ideas to answer your business challenge.

Some of the challenges solved recently were

  • How do I attract the right franchisees? – Funky Photo Booth
  • How do we dramatically increase vistors to realestate.com.au in 1 month? – Realestate.com.au
  • How do we attract more single males to community project events? – m.a.d woman

For more challenges read more here

Ideas While You Sleep now has clients in 12 different countries and over 400 Ideas Agents ranging in age from 16-82 in 8 countries.

Matt’s company Freelancer.com is  the world’s largest micro-outsourcing website with over 1 million registered professionals from 234 countries & regions of the world. Through Freelancer.com, small businesses can quickly and cost effectively hire just about any skill set – on demand 24×7×365.

Matt delivered some interesting points during a recent presentation that Bulla's site shared

  • 80% of the worlds population is about to join the Internet
  • More people in the world have capacity to provide labour than sell goods
  • You can outsource Website design, IT & software, content writing, blogging, graphic design in fact almost anything you can think of
  • Typically these services can be provided at one tenth the cost that you are paying today

Thanks Jeff for reminding me of this important point. Question: If you had unlimited labor at one tenth the cost what would you outsource, and what difference would that make to your business? Watch Four Hour Work Week Overview below.