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Disadvantages of Outsourcing?

We often hear about the advantages of outsourcing, but you also should be aware of the disadvantages of outsourcing as well. Any business owner that is considering outsourcing some functions over to someone else should be aware of both the good and bad points of outsourcing. Sure, many will tell you not to focus on bad things but rather to think positively. However, if you want to use outsourcing to its full potential, then you also need to be aware of the disadvantages of outsourcing.

 

Some of the Most Common Disadvantages of Outsourcing

According to many small business owners that I have spoken to, here are the most frequent disadvantages of outsourcing that were mentioned by them:

Loss of complete control over your business

When you outsource part of your operations to an external provider, you are no longer in full control of that aspect of your business. For example, if you have someone else call leads on your behalf, they will be doing the calls and not you. Therefore, you will not be in direct control over what happens on every call that they make.

Issues of quality

Quality is something that is often talked about when disadvantages of outsourcing are discussed. Can you really be sure that the company or person that you will be hiring will do a good job? Will they follow your instructions accurately and complete the work on time, just like you've asked them to? These are all very important questions that those who outsource frequently ask themselves. After all, you do not want your business to suffer because of an outsourcer that did a poor job. (more…)

By Lawrence Tam, ago

China Building Collapse – Check Yourself

Look, stuff happens and when it comes to dealing with people's lives it's vitally important to “measure twice and cut once”. The China building collapse of the Lotus River Garden building is a sad testament that this doesn't always apply.

Tight Schedules
Poor Engineering
Cutting Corners
Ignoring Safety

I believe there have been some workers that didn't make it out alive. This could have been worse and glad there weren't people living inside (if they were that would have been premature since the surrounding areas were still being developed).

I'm just shocked like something like this could happen when you have so many “eyeballs” on the project.

What makes this even scarier is that these so called engineers are spring up building all over the world with building codes just like the one in the picture above (building laying on their side).

(more…)

By Lawrence Tam, ago

How To Retire Early And Tips You Can Use

Even people in their twenties want to know how they can plan to retire early but with the economic states of numerous countries, it is hard to determine is that is a real possibility or not. Sure, you may be able to actually retire at an early age but will the money you be bringing in monthly be enough to cover all of your expenses? Knowing how much money you need each month will really help you out in determining when you can actually retire. I can see why quite a few people get overwhelmed when they research how they can retire early because it may require you to have quite a bit of money. If you really want to know how to retire early one of the best places to start is looking at your own income.

If you have noticed that the income you currently make will not provide enough retirement money to support you then you may need to come up with a Plan B. For those of you who are young enough, you may want to consider doing another job somewhere else in order to make the amount of money in retirement that you will need. (more…)

By Lawrence Tam, ago

Business Ideas for Women That Work

If you are looking for a little side income or a new way to make a living, starting up your own business could be a great venture. However, unless you already have a hobby or venture in mind, you may need some help coming up with business ideas for women to pursue.

One very popular way to start up your company is considering opening up an in home day care and preschool facility. You simply just need to be approved by your state (which I found isn’t too hard) and then get some parents to be your first clients. If kids are not really your thing I have quite a few women friends who make different arts, crafts and jewelry to be sold. Anything that can be handmade usually attracts people and can be a great way to at least have a small side income.

For the collectors and garage sale stoppers you may find that getting involved in antiques may be one of the best business ideas for women you should try out. Some women already have quite a collection of different antiques and collectibles so starting up isn’t as expensive or hard as other ventures may be for them. In all honesty, I have found you can pretty much make a career out of anything as long as there is a market for it and people will buy it. I have seen some pretty strange, weird, cool, unique and even creepy things make some of my friends quite a bit of money simply because there was a demand for it. (more…)

By Lawrence Tam, ago