Is It Possible to Run a Multi Million Dollars Business Entirely on Outsourcing?

14 replies
I know that to make $3k - $5k alone online could be possible. But if you are to make $1 mln annually, you will need help. I was wondering if it's possible to run your IM business entirely on outsourcing?

I do not wish to have an office here and I do not wish to hire locals. Yet is it possible to still build a business through outsourcing offshore?
#business #dollars #million #multi #outsourcing #run
  • Profile picture of the author Margo Tuul
    You can yes,

    Hire people to create products for you. Website designers. SEO guys. Pay for advertising, get traffic, get affiliates, launch your product etc etc. All you really need is 1 great idea and money.
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  • Profile picture of the author King Shiloh
    Banned
    Yes, if the outsourcers are honest, trustworthy, hard working...

    No, if the reverse is the case.
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  • Profile picture of the author George Phillip
    Yes it is possible.

    Small Business and Small Business Information for the Entrepreneur has numerous people raking in millions running BPO websites.

    You would need to automate the hiring/finding talent via a website/job board to make it profitable and not too strenuous.
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    • Profile picture of the author DomenicoGrecojr
      Eben Pagan aka David DeAngelo runs Double Your Dating with an outsource team. That business makes 20 million a year.

      But then again, Eben is a special type of guy. Very smart.
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    • Profile picture of the author Roy Penrod
      I've managed over 200 people at once in my former corporate life with some of them being telecommuters.

      From a management viewpoint, it is tougher to manage a team of off-site workers than it is to manage a team of on-site workers.

      But it can be done. You just have to stay on top of it.

      You'll probably want to hire one local person with excellent communication skills and the patience of Mother Teresa who can lead the team for you while you focus on creating products and building your business strategy.

      My best advice for outsourcing is to split projects up as much as you can. Don't give the entire project to one worker. Give a part of it to them and another part of it to someone else.

      If you're creating an ebook with 10 chapters, for example, give 2 chapters to each of your writers. And then have your final goto writer re-write the entire thing in your voice.
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      • Profile picture of the author fated82
        Originally Posted by George Phillip View Post

        Yes it is possible.

        Small Business and Small Business Information for the Entrepreneur has numerous people raking in millions running BPO websites.

        You would need to automate the hiring/finding talent via a website/job board to make it profitable and not too strenuous.
        Your resources are always helpful...thanks!

        Originally Posted by DomenicoGrecojr View Post

        Eben Pagan aka David DeAngelo runs Double Your Dating with an outsource team. That business makes 20 million a year.

        But then again, Eben is a special type of guy. Very smart.
        Thanks for the head up....Will look at his business practices.

        Originally Posted by Roy Penrod View Post

        I've managed over 200 people at once in my former corporate life with some of them being telecommuters.

        From a management viewpoint, it is tougher to manage a team of off-site workers than it is to manage a team of on-site workers.

        But it can be done. You just have to stay on top of it.

        You'll probably want to hire one local person with excellent communication skills and the patience of Mother Teresa who can lead the team for you while you focus on creating products and building your business strategy.

        My best advice for outsourcing is to split projects up as much as you can. Don't give the entire project to one worker. Give a part of it to them and another part of it to someone else.

        If you're creating an ebook with 10 chapters, for example, give 2 chapters to each of your writers. And then have your final goto writer re-write the entire thing in your voice.
        Yes, I intend to split the work up and manage them... Probably I will have to learn from experience over time and hire a 'CEO' to help me communicate with those outsourcers.

        Thanks for your input!
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      • Profile picture of the author Adam Richardson
        Roy, I was laughing at myself when I read your post about not giving the entire project to one worker. In my only outsourcing experience this far I did just that...gave one guy the whole thing and...you guessed it, it didn't work.

        I like the idea of outsourcing a key management/leadership role to someone that leads while you create. Good stuff.
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        • Profile picture of the author Roy Penrod
          Originally Posted by Adam Richardson View Post

          Roy, I was laughing at myself when I read your post about not giving the entire project to one worker. In my only outsourcing experience this far I did just that...gave one guy the whole thing and...you guessed it, it didn't work.
          Everyone's got a focus problem these days, Adam. lol
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  • Profile picture of the author E. Brian Rose
    Managing outsourcers is much like managing employees. Hire somebody to manage those outsourcers and you are down to just managing one person, which can be done in short scheduled conferences. This is the exact method that is used by many retail managers, branch managers, and even corporate CEOs.
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  • Start out with using an outsourcer for just one job.

    See if you get along with them, and if you find a winner. Keep them.

    Then find a second outsourcer, initially do not give them contact with each other until trust is built.

    Creating new products, is probably the best way to set up an automatic pilot income system.

    Best regards Ron
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  • Profile picture of the author Slade556
    I'm not a millionaire but I don't see why it wouldn't be possible. Based on my own outsourcing experience I would imagine the biggest issue you would run into is finding QUALITY workers. I've gone through pretty strenuous searches just trying to find 3-4 sometimes and it goes without saying you would need many more than that to run a multi-million dollar business.

    Your best bet would be to take your elite and most trusted 3-4 workers and train them to hire others underneath them so that they in essence are 'running' the business while you are overseeing it. Much easier said than done though.
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  • Profile picture of the author Chris Munch
    I know someone that does, not that they never do any work, they do a lot of work. But typically they can disappear for a month and leave their business running itself.

    It is certainly possible. The trick is getting talented people and incentivizing them to work well.
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  • Profile picture of the author thomarv29
    Outsourcing is probably the only way to become a millionaire these days lol we outsource all of our work overseas and do well over a million a year. We use a lot of the freelancing sites like Freelancer and Odesk as well as backlinkteam if we are wanting full site management and a more hands off approach. The trick is to keep output high and overhead low, when you can keep your man hour costs down to under $4 per hour you have a much better shot at making it big.
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