Most people are attracted to the concept of offshore staffing because of the cost-saving potential. You can generally save 70% on costs.
Saving 70% is great. However, the real power of outsourcing is found not in its ability to save money, but its ability to make money.
There is always a finite ability to save money. You can only save a maximum of 100%. However, when you set your sights on making more money (instead of saving), then there is infinite upside potential. In the era of tech and meme stocks, unicorns, VCs and crypto, it is not unusual to see companies grow 100%, 1,000%, or 10,000% in a relatively short period of time.
It is easy to get caught up in saving money, and not focusing on the bigger, more audacious objectives or growing a business.
Because outsourcing is seen as a cost-saving exercise, it is most commonly overlooked as a meaningful way of actually aggressively growing your business. Many people think of outsourcing as just VAs or call centers, but in reality, you can find highly capable marketers, growth hackers, sales directors, management consultants, and MBAs.
So, should you save, or expand? Conserve, or create? Consolidate, or grow?
With the price of outsourcing, the Rough numbers provide you with a choice of either:
(1) Saving 66% on your existing workforce and staffing costs, or
(2) Increase the size of your workforce by 300% for the same original cost.
Just imagine what you could do if you tripled your current workforce
The question for your business
If you had a magic wand and were given a choice. Would you (1) cut your staff costs by 66%, or (2) triple your workforce for the same original cost?