15 tips how to effectively manage outsourcing company
We at UPTech were able to grow the company from zero to 37 team members in 2 years and make it profitable from the very first month. Without external investments.
Along the way, we’ve made lots of mistakes and learned many lessons the hard way. In this article, I want to share some tips that will help you take your company further faster. Tips are originally created for the outsourcing company but in my opinion, suitable for any servicing business.
1. Visit conferences in your business area
Even if the topics seem familiar, you’ll still be able to gain many ideas when you listen to and talk with people. And it’s a great networking opportunity.
2. Be transparent
A good indicator of the company culture is the ability to say what you think to anyone (regardless of the position). Especially about problems, weaknesses and mistakes. As Ray Dalio suggests — be radically transparent. That way your team will be able to come up with amazing ideas and solutions. Note: it’s pretty difficult for people to face uncomfortable truth and become transparent. Be prepared.
3. Learn the 5’A’s of Motivation
A Vision, a Purpose, Authority, Autonomy and Appreciation. Have a clear purpose, communicate it with the team and create a vision for it, give autonomy, lead with competence authority and appreciate contribution!
4. Outsourcing = product!
The tasks are repetitive, and if you do not generalize them into small solutions/products — you’re managing your business ineffectively. Look for ways to improve the efficiency of your servicing business by creating small solutions.
5. 2 key advice about sales: be likeable and earn trust
Nowadays it’s not enough just to do your work. Clients want to work with someone they like and trust. It’s a strong competitive advantage. Hard to gain, and easy to lose. Sincerely take care about your client, try to really resolve his problem and not just sell more of your services when they don’t really need it. They’ll appreciate it and come back to you.
6. Be proactive
If the client asks for the update about the project — you’ve already failed. Set up effective communication so that client never needs to ask for update. Ask for feedback before the client tells you what to improve. Communicate every problem or potential issue as soon as possible.
7. Close more deals using backchannel sales
For example, ask the CEO to follow up the lead with an email when the sales cannot get a response from him. It works like magic in some cases.
8. Sign up for Google Trends for your competitors
You’re probably signed up for the Google Trends for your brand. How about to know what your competitors are doing? Google Trends will give you a good overview of it. However, don’t use it to repeat what your competitors are doing, but to make sure you’re moving in front of them.
9. The size and the level of the company represent the level of its owner
The company cannot outgrow the level of its leaders/owners. If the leader is stuck in the micromanagement style from the last century or resists the innovation, the company probably will not become successful. It’s a big challenge and responsibility for the leaders to grow all the time.
10. Conduct regular one-on-one meetings with your key team members
Investment in your people is one of the best things you can make. As your time spent helping them has 10–20x multiplier. Provide coaching, share updates/important info, make sure the team morale and motivation is on the high level, give feedback and appreciation. It’s an important way of staying on top of the important things.
11. Read at least 40+ books per year
All of the most successful leaders read a lot. If the CEO of Facebook/Microsoft or the president of the US can find time to regularly read books, why can’t you do it? Get new ideas and inspiration, lear, broaden your worldview and become a better leader.
12. Trust — is the #1 task of the management
You can lose anything, but you should not lose trust. You’ll be able to rebuild the whole company having trust of your people. Trust is the foundation of the team synergy and the effective teamwork. Don’t underestimate it.
13. Values should be verbs, not nouns
It’s popular nowadays to have the corporate values. Make sure your values are really the one that your team believes in and, most importantly, lives by. Values should be actionable so that anyone can use them to make the proper decision.
14. Heroism — is the consequence of irresponsibility
Whenever you see heroes — be sure that irresponsible idiots were before them. Heroes look great only in the movies. In the team they destroy it from the inside. In a good team with members that trust each other and are aligned on the goals there’s no place for heroes, because everyone does his/her work properly and critical situations where heroes can show off are very rare. Clever leaders even fire their “heroes” to allow the team become stronger.
15. Hire uncomfortable employees, but constructive ones
You don’t need a team of sheeps that agree on everything with you. The ones who challenge your ideas in a constructive way are invaluable, they help you stay on track and seek for the best solutions. The team needs to be diverse to provide input from different sources. Value them and be grateful for constructive confrontation.
Hope these tips will help you make your company better, build meaningful relationships with your team members and clients and make a positive contribution to the world.
Some resources and books you should also check:
Interesting thing is that very few readers will actually go and implement the ideas above. So you’ll have a significant competitive advantage if you install at least part of the suggestions.
Wish you good luck growing your servicing business.
If you find this helpful, click the 👏 below so others can enjoy it too. Follow us for more articles on how to build great teams.