Feeling Overwhelmed? Here’s Why Outsourcing May Be the Solution

 “The time I save by outsourcing can be turned into productive work hours that generate more value for my business. More importantly, it vastly improves my quality of life.”

As a business owner or executive, life moves fast and so do you.

Back to back meetings, endless emails, non-stop travel, and late nights spent on impending projects may be the norm. If you’re burning the candle at both ends and feeling overwhelmed, you aren’t alone. Driven by today’s always-plugged-in environments and unrealistic expectations, it’s not surprising that nearly 50 percent of American workers say they feel burned out, according to a 2018 report from Comparably. As a business leader, stress and burnout can be very real challenges—but fortunately, they don’t have to be.

For many women, there’s a taboo associated with outsourcing.

It’s not uncommon to feel that outsourcing personal projects, such as those around the house, is extravagant. The Superwoman complex may loom large: “I should be able to handle cooking for my family” or “I need to find time to clean this place up”, for example. In reality, your time is extremely valuable. Farming out tedious tasks at work and at home to free up time for more important things can be a smart investment.  

Feeling Overwhelmed? Here’s Why Outsourcing May Be the Solution

What should you outsource? 

These days, almost any odd job can be outsourced at a reasonable price, thanks to marketplaces like TaskRabbit and Upwork, virtual assistant sites, and even word of mouth. The key is to identify the tasks that you consider the most undesirable and that can be outsourced at a rate that works in your budget. If you converted your salary into an hourly figure, you’d be likely to find that offloading the dreaded housework to a maid service that charges the equivalent of $30 per hour is very reasonable. In the workplace, ridding yourself of the drudgery of creating client invoices by outsourcing the task to a virtual assistant at $20 per hour may be well worth it. And that’s not to mention the benefits you stand to gain in terms of reduced stress and regained sanity.  

Here are just a few examples of the many local outsourcing options available that can make your life easier:

  • Personal concierge: Because you have more mundane tasks to complete than there are hours in the day, personal concierge services exist to lighten your load. Whether it’s waiting for the repairperson, picking up the dry cleaning, preparing for a party, or taking the dog to the groomer, these companies handle the errands and tasks that interfere with your busy schedule. Peace of Mind ConciergeMade Easy Concierge and OrganizingCapitol Concierge and All Around Town Concierge are among the many personal concierge companies that cater to area residents.
  • Daily money management: As personal financial matters grow more complicated, it becomes increasingly difficult to find time to focus on the everyday tasks of money management. Daily money managers offer services to ensure nothing falls through the cracks, including necessities like paying monthly bills, assisting with tax records, and balancing checkbooks. The American Association of Daily Money Managers (AADMM) maintains a national directory of qualified, vetted professionals.
  • Grocery shopping and delivery: Create your shopping list online, pay a small delivery fee (usually about $10), and your order magically appears at your door in no time. In the Baltimore-Washington area, Peapod and InstaCart are popular grocery delivery services.

There’s no shortage of tasks you can choose to outsource.

From the most mundane personal chore to a complex web development project, there’s someone out there who can remove the responsibility from your plate. A carefully curated outsourcing plan can be a financially prudent way to regain the balance in your life. FAI Wealth Management’s team of highly credentialed, compassionate financial planners has the resources and depth of experience to help you develop an effective personal outsourcing strategy.

If you're seeking proactive expertise and caring, individualized financial guidance, give us a call at 410-715-9200 or email me, Lyn Dippel, at ldippel@faiwealth.com.

About FAI Wealth Management, Inc.: Located in Columbia, Maryland, FAI focuses on helping clients create the financial future they desire by protecting their wealth, making the most of their assets, and planning for life's uncertainties. The firm combines fee-only, fiduciary-driven guidance with highly personalized, consultative financial planning and investment services that enable individuals, families, and businesses to navigate complex life transitions. Founded in 1987, FAI currently manages more than $350 million in client assets nationwide. For more information about FAI Wealth Management, please visit the website at https://www.faiwealth.com or call 410.715.9200.

 

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