Outsourcing household chores and other low-value tasks can free you up to focus on the things that matter most including family, friends, health and personal and professional goals, writes mother of two and inSynergy Director of Marketing and Operations, Natasha Sheppard.
Ask any adult how they’re going, and they’ll likely tell you that they’re “up to their ears” in work and commitments and “there’s just not enough time to do it all”.
As a result, people are flocking to outsource everything from household chores to furniture assembly and even writing their wedding speeches!
What is outsourcing?
Outsourcing is the act of hiring someone outside of yourself, household or business to perform a specific task – for example – hiring a professional cleaner or gardener to service your home or investment property, or arranging for someone to come and walk your dog while you’re at work.
The idea is that these people will be able to perform the task more efficiently (and safely) because they’re specialised in it.
However, as we become increasingly time-poor, people are using outsourcing to manage their cooking, shopping, organisation of their home and anything else you can imagine.
Benefits of outsourcing:
Outsourcing is all about learning to value yourself and your own time so you can lead a better life for yourself and your family.
Delegating day-to-day household tasks has freed me up me to work full time in our family business, inSynergy Property Wealth Advisory. With my professional qualifications, skills and experience, I felt my time was much better spent helping to manage and grow the business rather than washing, cleaning and ironing at home, not to mention the fulfillment that comes from having a rewarding career.
The other enormous benefit is that it allows me to spend more time with family outside of work. When we get home in the evening, I can focus on being present with my children, Tom, 13 and Lilli, 9 to help them with their homework and have some quality time together before bed.
We always say to our clients that outsourcing is an investment in themselves. If they say they don’t have time to spend half a day learning about property investment and strategy – something that can significantly change their lives for the better both now and in the future – but are spending valuable time on laundry and cleaning, then they don’t have their priorities straight.
Focus your time on high-value, high-reward tasks and I can promise you’ll soon wonder why you didn’t take this approach earlier.
Time saved by outsourcing can open you up to pursue interests like attending personal or professional development seminars and focussing on your physical and mental health and wellbeing.
Finally, I find that outsourcing actually helps increase productivity at work. When you go home and everything is done, you get a sense of peace and relief. You can switch off and the next day you will be more productive because you have had some proper downtime.
Outsourcing in the workplace:
The same philosophy to outsourcing can be applied in business. At inSynergy, we focus our time on the things we do well: property investment education and advice, complex finance structure and mortgage broking.
We then outsource the tasks that aren’t part of our core business. A great example of this is our virtual CFO and accounts team at Ignite Accounting and Financial Services. They take care of our day-to-day bookkeeping and accounts payable as well as the more complex tax and business planning issues.
Deciding which tasks to outsource:
The aim of outsourcing is to give you the most value for your time and money. Therefore, it’s important to be selective about which tasks you keep and which ones you delegate. Here are a few things to consider when making that decision:
- Time: How much time will it take and could it be better spent doing something else? Or, will it take longer to outsource the task rather than doing it yourself?
- Repetition and frequency: How often does the task need to be done?
- Enjoyment: Do you enjoy or dread the task?
- Value: Is it helping you achieve your personal, financial, or career goals?
- Skills: Do you have the skills and knowledge to complete the tasks? Is there someone that could do it better?
- Cost: What can you afford?
The cost and value efficiency you gain from performing the task yourself versus outsourcing will depend on the way you’ve answered those questions.
Where to start
Companies such as Airtasker and Uber Eats have popped up in answer to the booming demand for outsourcing tasks.
Our family uses Sydney and Brisbane-based company, ‘Get You Organised’ which provides housekeeping and organisation services as well as nanny helpers that can help with childcare, running errands, and meal preparation. Potential housekeepers have been fully screened and trained so you have peace of mind when someone new comes into your home. After resisting it for so long, I now wonder why I didn’t do it sooner. It honestly is the best investment we ever made!
Important Note and Warning: This information is general in nature and should not be considered personal tax advice. We highly recommend you discuss these concepts with your accountant, property investment adviser and investment finance mortgage broker jointly to ensure any considered concepts are suitable for your personal financial situation, as one effect of the concept may negatively impact another part of your plan.