The Cost Benefits of Outsourcing
Some of us are strong proponents of autonomy. We opt to handle every job ourselves as opposed to outsourcing them to others. Yes, lawn care, house cleaning, cooking and tending to small-medium sized maintenance duties can be therapeutic. But for those who are thrifty and/or a DIY champion, there’s a distaste for dependency on others, particularly when one knows how and when they want something done. As we strive for absolute sovereignty, we sometimes overlook the cost benefits of outsourcing.
I, too am in favor of self-sufficiency, though at times, outsourcing jobs to others is a good thing. What if the duty is something that is achievable given one’s skill set? Should we still hire someone? Yes! When we can, we should employ others to handle small tasks for two important reasons:
1. Our Economy
2. Investing in ourselves
Pantheism and the Majesty of Commerce
Instead of replacing a light fixture or faucet head, trade money in exchange for labor. The beauty in outsourcing such tasks is this: stimulation of an economy. An unhealthy economy yields trouble. For instance, unemployment and inflation are two unwanted tourists that will likely visit any economic system under siege. For everyone in a given economy, unemployment and inflation result in long-term and immediate financial consequences, respectively.
Outsourcing small tasks isn’t the sole preventive measure to avoid an economic collapse, but it does help. For example, if there is a pesky time-consuming job you wish not to tackle, hire someone to do it. The money earned by the person you hired will go towards a number of things. Gas, utility bills, or a trip to the movies are examples of the expenditures that would transpire. Successively, the merchants of those products and services are paid and will use those funds to buy goods and services as well. Therefore the money that originated from your wallet will bounce multiple times within an economic system.
Even if the person you hired decides to deposit their earnings in savings, their bank will benefit just as the aforementioned merchants. My friend Maria likens this phenomenon to Reaganomics. I, on the other hand, have dubbed it Pantheism and the Majesty of Commerce. Simply put, Pantheism stems from the philosophy of an interconnectedness among all living things by way of a circular energy – everyone and everything that’s a part of this circle benefit from each other. An economic system is the same, as everyone within the structure profits as well. Though instead of energy, money is the fuel that keeps the engine running, hence the majesty of commerce and the emergence of a healthy economy.
The Value of Time
I must say that it is extremely helpful knowing how to tackle a few jobs at home. No one should totally depend on anyone to fix all things, nor should we try to do everything ourselves unless our circumstances tell us otherwise. I know that my time is my most valuable asset as should be the case for everyone else. As I have professed unto many people, time is incalculable and precious, so we ought to use it wisely.
Economics teaches us that when two parties engage in trade, both are better off, even if one or both participants are privileged in their corresponding resources. If mowing the lawn or changing your oil prohibits you from investing time into something of more value, then halt. Assess the opportunity cost of doing a chore vs. devoting time towards your passion. Lean towards outsourcing and trade currency in exchange for a job well done. Both you and the person you hired will be better off. As the seeker of service, you would have eliminated a task while making more time to invest in what matters to you. Also, your service provider will earn money to support both himself and the economy.
The endeavor you have elected to pour time into may not be a Cash Cow or even a Dog, but sometimes money isn’t nor should it be the coveted trophy for all accomplishments. You might think that you’re losing if you pay someone to do a job you could have done. Not necessarily. Remember that value doesn’t always have monetary worth attached to it. There is immense value in good health, a happy marriage, raising children, helping the poor and serving as a mentor. After all, some of the best things in life are free and wealth is the QUALITY of living.
Outsourcing small jobs to others isn’t a foolproof safeguard tactic for any economy, but it sure comes in handy. Remember that outsourcing small jobs could bring fertility to your economy, as illustrated above. The late Afeni Shakur once said that seeking knowledge is eternal. Never stop learning and become the jack of all trades if you wish. However, know when and how to lighten your load when needed – even Superman needs a breather.
A hidden bonus in outsourcing a job to someone is this: the money traded in exchange for service could be the means to help someone feed their children, or to stay afloat amidst rocky financial waters. Outsourcing small tasks is a creative way to make more time for what you love. If you can devote more time towards the thing(s) that’ll bring you the most value, then you have secured more wealth for yourself – even if at the expense of your wallet.
Keep on shining, everybody,