Outsourcing Costs Versus What it Costs to do it Yourself

One of the issues that holds LNCs back from outsourcing is the perception of the cost. I always ask for feedback when people are exiting my webinars. One LNC commented,

“If you are already existing on a wing and a prayer, this idea is not profitable. You have to have money to make money. If you are already existing on a wing and prayer, this idea is not profitable. You have to have money to make money. How to get clients for the LNC within their area of expertise is the first step and how to take baby steps in managing taxes, graphics until a certain amount is reached. Then after that amount is reached how the LNC can adapt a work force of 5 capable players to have a successful business.”

Outsourcing Costs

I get it. When I first started my business I did everything myself. I marketed; I prepared invoices; I followed up on collections, and I did the cases. My work day never ended. My family room was my work area. My 6-year-old son did not understand why he always saw the back of my mother’s head in the evening and could not get her attention.

One day when he asked for attention and I told him self-righteously that I was working, he burst into tears. “I feel like such a pest!” That got my attention. Those tears resulted in me hiring my first part time secretary. Not sure I had enough to keep him busy, I took the leap anyway.

Remember water pumps on farms? You had to pour water into the pump to prime the pump to start receiving water. You need to spend money to earn money. Outsourcing costs prime your pump.

There are activities only you can perform as an LNC.

• You need to get the initial details about the case.
• You need to do the case.
• You need to generate content to attract attorneys to your website.

These responsibilities are the highest and best use of your time. But there are other activities you don’t need to perform and can outsource at little cost. What can an assistant do?

• Collect information about attorneys you want to market to.
• Call attorneys’ offices to get appointments for you to meet the attorney.
• Create a website for you.
• Gather information for you to use to write a blog.
• Insert images and proofread your blog.
• Prepare invoices and make collection calls.
• Post information on social media.

Frankly, some of these activities you are capable of doing. But how much time does it take? What opportunities are you missing by doing it all yourself? Outsourcing costs are small in comparison to the missed opportunities, the frittering away of your time on low level activities that can suck you into a black hole.

For example, you can post a blog on your Facebook page and before you know it, 30 minutes have gone by while you catch up on what your friends are doing.

Outsourcing Costs Myths

There is a myth that you can start a business without any costs. You have to be able to invest in resources, business development, and coaching to advance your LNC practice. You can make a lot of expensive mistakes without help. Outsourcing costs are essential. It is easier than ever before to get good talented people for a minimal investment.

I have seen too many LNCs struggle because they were not willing to allocate money to receive assistance. I have talked to so many short sighted LNCs who crippled their business development by trying to do everything themselves. Don’t be one of them.

Pat Iyer MSN RN LNCC runs The Pat Iyer Group with outsourced assistants to record her webinars, transcribe her webinars, manage her mailing list and social media accounts, reconcile her checking accounts, and more.