Outsourcing is the way of the future, so much so that it is difficult to imagine how our world would be without it.
Outsourcing is a type of business practice in which a party outside of a company is hired to perform services and create goods previously performed in-house by the company’s employees and staff.
Other types of work are also outsourced by businesses, most notably manufacturing, human resources, accounting, and payroll processing. These functions are outsourced to entire divisions or specific parts of a department.
Outsourcing by contracting out or business process outsourcing (BPO) has become popular worldwide. The jobs provided to millions worldwide have kept the global economy moving and multiplying.
However, since the pandemic has struck the world, staying motivated and competitive appears to be complicated.
So we’ve compiled quotes that could inspire and reignite the passion of every entrepreneur.
Here are the best motivating outsourcing quotes for every entrepreneur to help you regain your confidence in business:
- “The true power of outsourcing in the future will be in increasing an organization’s core capacity for change and growth. The business challenges of the next decade will be very different from anything we’ve seen before, and the companies that can weave a strong network of global partners through outsourcing will win.” – Michael Corbett, IAOP Chairman.
- “Manufacturing outsourcing and globalization allow companies to cut costs, benefit consumers with lower-cost goods and services, and cause economic expansion, which reduces unemployment and increases productivity and job creation.” – Larry Elder, lawyer, and Larry Elder Show host.
- “Being in the consumer industry allows us to develop talent in areas such as marketing, finance, and logistics. Our outsourcing business can be compared to our consumer business and its best practices.” – Azim Premji, Wipro Limited’s Chairman.
- “Do what you do best and outsource the rest.” – Peter Drucker, Management Consultant, Educator, and Author.
- “If you rely too much on the people in other countries and other companies, in a sense that’s your brain, and you are outsourcing your brain.” – Bill Gates.
- “In the long run, outsourcing is another form of trade that benefits the U.S. economy by giving us cheaper ways to do things.” – Janet Yellen, American economist.
- “Because of the scarcity of talent, businesses will consider outsourcing as a means of accelerating innovation and gaining a competitive advantage. This will result in a transformation of the outsourcing profession in which innovation will be valued far more than cost savings alone.” – Jagdish Dalal, Corporate Affairs CEO.
- “The boogeyman of the 1990s was outsourcing. Protectionists portrayed it as a heinous crime that would cost American jobs. Yes, some jobs did migrate offshore, as predicted, but this widened the global economic pie.” – Vivek Wadhwa, an American entrepreneur and academic in the field of technology.
- “The other aspect of outsourcing is that it simply states that if the work can be done better outside than inside, we should do it.” – Alphonso Jackson, former Secretary of Housing and Urban Development of the United States.
- “What is important about outsourcing or global sourcing is that it becomes a very powerful tool for leveraging talent, improving productivity, and shortening work cycles.” Azim Premji is an Indian businessman.
- “If there isn’t enough growth in the industry to support all of the players, it’s in society’s best interests to have the most output produced with the fewest inputs – but society also needs to help those on the outside. I don’t have a problem with financial guilt. My money, in my opinion, represents a massive number of claim checks on society. It’s as if I have these little pieces of paper that I can consume. I could hire 10,000 people to do nothing but paint my picture every day for the rest of my life if I wanted to. And the GDP would rise as a result. However, the product’s utility would be nil, and I would be preventing those 10,000 people from doing AIDS research, teaching, or nursing.” – Warren Buffett, Berkshire Hathaway CEO.
Top Business and Government Leaders on Outsourcing
Apple and Steve Jobs
Steve Jobs, the former CEO of Apple, outsourced iPhone manufacturing to Chinese facilities to take advantage of the country’s quick and flexible supply chain. He argued that America was too powerful to lose jobs to more cost-effective locations due to outsourcing.
Elon Musk – Billionaire entrepreneur
He believes that China is an excellent manufacturing location for his electric vehicles and has stated that his manufacturing will inevitably occur there.
Barak Obama – Former U.S. President
The former U.S. president, Barack Obama, believes that jobs that have already been outsourced cannot be reintroduced. Obama, referring to them as “past jobs,” recommends Americans retrain for “future occupations” to battle unemployment in the United States.
Tips for Business Owners to Survive the Pandemic
Don’t panic and embrace change
Keep in mind that panic brings nothing positive, so remain composed and calm, even if the money appears to be running out. Taking care of oneself is an efficient approach to staying peaceful, which will also keep your colleagues tranquil.
Change, in the end, brings obstacles, but it can also bring possibilities. Shifting our approach from problem-solving to solution-focused will aid our businesses in navigating these turbulent waters and surviving the lockdown war and beyond. When you find yourself trapped inside a difficult situation, take a step back and give yourself and your mind some space before making any significant decisions.
Use your time wisely
Avoid attempting to do everything on your own—delegate mundane tasks. Hiring a Virtual Assistant for specific tasks is one way to maximize your time. It allows you to work less and concentrate on areas of your business that require the most attention.
Make a schedule for your working days, and remember that it’s OK to take a break. By arranging your days by the hour, you can avoid wasting days. Consider wellbeing and self-care when you set your tasks. Include meditation and mealtimes in your routine to stay energized and stress-free. Prioritize rest days to avoid mental breakdowns and burnout.
Expand your social circle
Remember that your social relationships are more vital than ever, and you can concentrate on improving them even while adhering to social distancing principles like relying on online solutions. You can focus on improving your relationships with people you meet online, whether clients or other businesses. Simultaneously, following these simple steps will help you build a more extensive network.
Keep healthy mental health
If you want to bloom rather than survive during the lockdown, you must maintain and improve your mental health. As a result, you must choose to be vigilant about what you read, listen to, and talk about; this will help you maintain a good mindset and keep your momentum throughout this time. We all know that negative news sells, so try to find a healthy balance and variation in these inputs.
Celebrate small victories
Every day, conduct a mini-personal assessment. Take 5-10 minutes to write down anything you’ve accomplished today and any problems you’ve conquered in a journal. You deserve some pampering and pep talk, so treat yourself to some ice cream.
Even though the current economic situation is difficult for many firms and business owners, entrepreneurs and small business owners continue to work hard, focusing on surviving and thriving.
If you are one of those warriors, go through these quotes to inspire yourself, and remember to constantly look after yourself because no one can do it better than you.
For more outsourcing tips, you can also check the following articles: