The goal of any business should be to add exceptional value to the market while making a nice profit.
When you add exceptional value to the market your business grows and as the business grows, so do the profits, and hence the success of the business.
…Easier said than done right?
Not if you follow Peter Drucker’s advice.
Words of Wisdom
Master of business management, Peter Drucker, said something that applies equally well to both brick and mortar and online businesses.
“Because the purpose of business is to create a customer, the business enterprise has two – and only two – basic functions: marketing and innovation. Marketing and innovation produce results; all the rest are costs.
Marketing is the distinguishing, unique function of the business.”
That’s a pretty concrete statement. But what does it mean and how can you apply it to your online business?
Focusing On What Counts
The quote above gives us a pretty good idea of where our efforts should be concentrated: Marketing and innovation.
Creating a unique and innovative product or service and marketing it well.
But we all know there’s more to running a business than just that. There are many other activities that are required to run a business, those “costs” that Drucker mentions and they need to be taken care of too.
So What’s The Solution?
The only way to really grow your online business is to outsource the “costs” activities because by doing that you can completely devote your energy to those 2 basic functions of innovation and marketing.
It’s your business and it’s imperative that you make the decisions and are satisfied with the results. You need to ensure that you are meeting the needs of your customers and at the same time offering innovative products and services.
You need to be the one in charge and you need to be planning and organizing, but you DON’T need to be performing every task and every process along the way.
You Must Delegate
Some of the smallest tasks could be what are hindering the growth of your business.
They may be small, but when YOU are wasting your time on every one of them, they keep you from adding real value to the market.
You must evaluate the various tasks in your business and determine which ones are not directly involved with marketing and innovation and that can be done by someone else.
These could be processes that can be done more efficiently by somebody who has more expertise on the specific task.
Things like; Graphic design, link building (and other SEO related stuff), filtering emails (so you only get the important ones), website creation, research, article writing, video creation, etc.
Outsourcing such tasks frees up your time and CREATIVE BRAIN POWER and in many cases will give you higher quality results.
And your outsourced tasks can almost always be done at a MUCH lower per-hour cost than you would charge someone for your own time.
Some places to find very low cost and high quality personnel are:
And the best advice I can give you is to always read the reviews before making a decision. Don’t waste your time with profiles that have bad or only a few reviews. And also use the filtering features provided by each platform to easily find the right person for the job.
Once you begin to concentrate your efforts in the areas that really produce results, leaving the other things to someone else, that’s when you will start to experience serious growth in your business.
Please share your thoughts on this business concept by leaving a comment blow.