Mark Mcrae is an Australian entrepreneur who has operated around 30 businesses, all of which were successful. The prosperous businessman has always been a staunch supporter of outsourcing, stating that it is the key to the success of his businesses. While outsourcing continues to be a sensitive matter that is often viewed as an unethical practice, Mark shares why outsourcing is essential to small business, rather than simply being an underhanded cost saving method.
“For many small business owners, outsourcing is a dirty word,” he said.
“In today’s environment of rising costs, a very high dollar and shrinking margins, small businesses simply cannot afford to think this way. Outsourcing allows us to cut costs, access skilled experts, reduce overheads, get flexible staff, increase efficiency, reduce turnaround time and generate more profit.”
Mcrae adds that around 80% of jobs can be outsourced, especially if the job is mainly done with a computer. In addition, he also shared how he easily reached talents through outsourcing. He managed to produce a professional documentary by outsourcing jobs such as script-writing and post-production. In one of his businesses, a team of five from the US, India, Malaysia, the Philippines, and South Africa run the operations.
Here are his tips on how to make outsourcing work for your business:
- Focus on your strengths and outsource your weaknesses
- Have a process in place before outsourcing any task or operation
- Vet contractors or partners thoroughly by reviewing past employer feedback
- Set clear and measurable objectives for your contractor
- Evaluate their performance against these objectives
Aside from his outsourcing knowledge, Mark highly values marketing. Here are some of his marketing tips taken from his interview with Ingrid Nelson:
- Try and find the starving crowd to sell your service
- If you can’t measure it, don’t do it.
- Spend about 80 percent of my time on marketing.
- Recognize growth opportunities
Mark’s success goes beyond 30 businesses. He went against the flow and saw limitless opportunities with outsourcing when many condemned it. The man from Sunshine Coast is now enjoying success, something any small business owner could enjoy. Start with taking an interest in outsourcing and how you can integrate it with your business. Who knows, maybe you’ll be a Mark Mcrae yourself too.