Scale; Turn Your 3$ Into Gold- Without Touching it

[Lagron]

I do not know how many of our members have employees but if your business will/can have employees in different parts of the world while still being efficient/profitable you should read on. All others... TLDR? Or just read because you can and its free information, other than the time it takes you to finish reading.

Okay, so we have all read the Millionaire Fastlane and we all know that scale is one of the commandments.

But how would most things be scaled? People on these forums have noted that they will work harder, develop new websites/marketing efforts etc., while all that is good, and important I feel as though it would nice to give insight on what I see scale as.

There are basically 2 strategies for scaling a business and making it profitable.
The fact that you need to build a system and hire an employee at the lowest cost possible to work on the system you have in place. It is one thing to hire cheaper employees but if you really don't have a system in place than I would call it an inefficiency.

And we all know- to be more efficient, leads to lower costs and at times greater profitability.

Its the system and having it written down that makes the greatest GREATEST difference between working 24 hours a day 7 days a week, not making money and not having the business work without our intervention.

I love being able to tell people to do something, give them the knowledge to do it, and then just sit there playing with a calculator or excel sheet analyzing the profit I gain if I can help an employee make that 1 more sale a month. (Yes I sit there playing with a calculator, call me weird.)

I know I have a "perfect" business, when I can leave for a few weeks and come back to find that things are still in order to only leave again and come back a month later. (I don't do this, not because I can't but because I actually like coming to the office figuring new things out).

But the point is, without a system in place, you will not be able to scale your business to the extent where you can just disappear for periods throughout the year. I started a company years ago in High School, and just let it drift there on its own, doing nothing every year and still being able to use my PayPal business debit card to fun my life and its costs.

Many people want to go ahead and hire employees for the business, but wouldn't it be great if you can hire employees at only 3$ an hour, without a great difference in efficiency?

You may not be able to find employees in the USA for 3$ an hour but if your business allows it how can you go about hiring employees in other countries

Let us say you hire 10 good workers in the USA at perhaps $5.5k a month per person. That is basically 55K$ a month just for employees, and 660k$ a year on salary. Don't forget an office, utilities etc. Close to 700K$ a year, probably more?

Now some simple math- hire 10 people overseas, in a low cost country like Bangledesh for 3$ an hour...that is $ 480.00 a month a person, or 4.8k$ a month for 10 employees...YES IM OUTSOURCING JOBS. Do you see the margin I just presented you with?

That is either spend 4.8K$ a month or 55K$... Hmm I see a savings of $ 51,200 just on salary per month. YIKES that is as much as if not more than the average USA wage and you can save that for yourself in just a month!

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So now you are saying- okay I need to outsource jobs. Can you? Does it seem viable for you to do so? I don't know your business, but I know this- if your employees DO NOT NEED to be near you when working for you, you can make it work, with what I am going to be sharing here.

For now, I have to get going, I will be back to continue this.

 

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[fastattack03]

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[strong]

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[SlavaRybalka]

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[LightHouse]

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[randomnumber314]

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