Surviving the Changing Digital Landscape in 2018

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The world is becoming a smaller and smaller place. Thanks to open borders and advances in technology, companies are able to do more business. This brings a lot of benefits, but it also presents many problems.

Many businesses are struggling to adapt to this new world. Changing expectations have created a challenging environment that businesses need to thrive in. Many are turning to digital outsourcing as a way to simplify their operations.

But what does this term mean? This article will look at what digital outsourcing is and how some companies are using it.

Let’s look at how outsourcing on the digital frontier is taking shape today.

What Is Digital Outsourcing?

Unfortunately, the term “digital outsourcing” lacks a specific clarity in its name. The individual words are simple enough. Anything “digital refers” to technology. “Outsourcing” means letting a third party handle some of your business logistics.

The term refers to the process of outsourcing digital logistics to third-party companies. This is common in many industries that are used to working across borders.

Most people who use this term refer to the digital things that can be outsourced. The truth is, any outsourced work done online can be considered digital.

The most important part of this term is the use of technology itself. While other forms use physical means, outsourcing digitally uses technology to do business.

Why Companies Outsource Digitally

For many, the benefits of digital outsourcing seem rather obvious. In some cases, it’s a better alternative to the traditional way of doing things or it’s more profitable. Yet, this isn’t the entire case: for some businesses, it’s a means of survival.

The benefits of digital apply when the business lacks the means to do the work itself. This may be due to a lack of skill, labour, or other typical challenges many companies face. Businesses that recognise this weakness will often outsource the work to others. These companies or individuals will often do a better job.

When outsourced to another country, there may also be a financial benefit. Many businesses can save money by sending the work to other countries that pay lower wages. This usually means lower costs, which saves the business more money.

Beyond these benefits, for some companies, digital outsourcing is a means of survival. Technology has changed the entrepreneurial landscape regardless of the industry. Companies that fail to adapt to these changes often fall behind.

For some small businesses, outsourcing is the only way they can remain competitive. When a rival business can produce better results, your business will have no choice but to change or to die.

The Current State of Virtual Outsourcing

The current state of digital outsourcing is somewhat of a mixed bag. This is partly due to the lack of clarity in what the term means for businesses in different industries. The term “digital” itself can mean a variety of things and look different to one business than to another.

Many businesses are outsourcing digitally, that’s pretty clear. They are turning to third-party online businesses to handle their logistical operation. For large companies, this can include sending entire digital departments overseas. This can be as effective as sending other departments over like manufacturing.

Even small businesses are getting in on the trend. For example, many realtors are using virtual assistants to handle everyday business matters. Someone halfway across the world can handle daily office matters.

Still, even though plenty of businesses are adopting this trend, many are trying to figure out how to use it. Since there is no right way to digitally outsource, there’s no manual or roadmap to help. This leaves a lot of businesses in the state of trial and error. They have to see what works for their particular business needs and logistics.

Many businesses are seeing if this outsourcing is more effective than the normal way. For some, making this determination is almost impossible without trying it out. If they are unable to use a digital outsource strategy , they can’t compare it to the traditional way.

Certain industries are also facing this issue when it comes to digital outsourcing. For some industries, how this outsourcing can apply is rather obvious. Many industries related to technology or marketing adapted to this approach.

Others are facing greater obstacles in defining how to outsource digitally. Manufacturing industries often lack the digital presence that this form of outsourcing requires. In some cases, this includes the challenge to add any new technology into the mix of the industry.

The future of outsourcing work will come down to resolving this issue for each industry. As more companies adopt the practice, more concrete trends will emerge.

Even though there is no standard definition, companies are trying to incorporate it. This alone has caused a few problems, many of which are common with all forms of outsourcing.

Current Problems with Virtual Outsourcing

Digital outsourcing is facing the same issues other forms have experienced. There is the ethical issue of paying people overseas a much smaller wage for the same type of work. Different employees in different countries work in different conditions. This often benefits the business more than the individual employee.

Outsourcing is also often critiqued for taking jobs away from the home country. Many people argue that outsourcing is harmful to the home company by creating a shortage of jobs. This leaves skilled workers out and increases competition for the positions that remain.

The digital part of this outsourcing can also lead to issues that companies need to prepare for. Anything related to technology is susceptible to failure since technology breaks. Things like computers and servers are never full proof. They may succumb to Murphy’s Law: whatever can go wrong, will.

Digital outsourcing is also creating a greater need for cyber protection. There have been several incidents that show the security of digital is questionable. The potential for hackers to derail outsourcing should be a concern for any business.

Finally, there’s a problem that is unique to smaller businesses: accessibility. While corporations usually have the funds to adopt digital outsourcing, businesses are struggling. Even if they want to, not all businesses can afford to outsource their digital needs.

This not only creates competition, but also can put small businesses behind. In other words, if they can’t compete with the big boys, their chances of success diminish. This can feed the trend of larger corporations replacing the smaller competition.

To survive small businesses either need to adopt this outsourcing or find a niche of their own. It’s not impossible for a small business to outsource. Many businesses find success outsourcing everyday operations.

A competitive advance can also help small businesses. A good niche that lacks competition from big corporation may be necessary. Unfortunately, some of these niches are hard to find.

Small businesses usually need to do more research to know what is best for them. Understanding how outsourcing works is the first step. Knowing these potential issues is also required to avoid them in the first place.

This outsourcing can offer a lot of benefits to the business and customers. Digital outsourcing may also become an exclusive strategy for those who can afford to use it.

For most small businesses on their own, it will remain a matter of trial and error.

Thinking About the Future of Virtual Outsourcing

It is hard to say where this kind of outsourcing will lead in the future. The benefits for many businesses are clear. The issues many businesses face are also present.

Time itself will help bring clarity to some of this uncertainty. As more businesses use the concept, more clarity is likely. Companies big and small will play an active role in determining the best way to use outsourcing.

For a small businesses, the biggest factor will be their willingness to try. To stay competitive, each small business will need to understand the concept. More so, they will need to think about how it applies to them.

This will need to include more research and strategy. Virtual outsourcing can be very beneficial for businesses as long as they are smart about it. To use this outsourcing, businesses can’t go in blind.

This is particularly true for businesses in non-digital industries. Tech and digital marketing businesses can usually outsource their work since it’s virtual. For traditional businesses, it’s necessary to think about what can go digital.

This isn’t necessarily a difficult thing to do. Usually, anything that happens on a computer is good for outsourcing.

Digital Outsourcing 1Surviving the Changing Digital Landscape

There are many things that small businesses can do to outsource many business needs. From virtual assistants to digital marketing firms, there are many options to explore. Sometimes, the most tricky part is going where to begin.

This is where I can help. If you want to explore how you may adopt a digital outsourcing approach to your business, get in touch with me. We can look at the potential of this form in greater detail to see how you can make it work for your business.

Going Digital, What’s in it for You?

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The IT industry changes every second of every day.

This can be scary for most businesses, people, and the general population as a whole. But it doesn’t have to be.

In fact, the IT industry has created endless opportunities for companies to thrive in the 21st-century.

Check out this staggering statistic: the global market for IT outsourcing is valued at over 280 billion US dollars.

What does this mean for our real estate investment industry?

It means that everyone else is doing it!

We need to jump onboard the digital wave of using IT outsourcing services to stay ahead of our competition.

How do we make that happen?

Simple. We begin a transitional and transformative experience within our businesses to cater to this growing market demand.

We begin a transitional and transformative experience within our businesses to cater to this growing market demand.

Many times, it’s helpful to seek some advice from an expert.

Let’s start with the basics.

Outsourcing

Outsourcing should be associated with the term delegated.

What Outsourcing IS

Many times we become overwhelmed with meeting all of our day-to-day business responsibilities. We get bogged down with having too much to get done in too little time.

Sound familiar?

This is where outsourcing can come in handy.

We don’t always need to send a project to another country, but we may decide to outsource a handful of our needs and responsibilities to another department, or in some cases, a capable third party.

An example.

A company launches a new marketing plan that has the phones ringing off the hook. The current team can’t keep up with the volume of calls, so they need to find a solution to quickly accommodate this rise in phone traffic.

Simple solution: outsource to a local call center that can take messages, answer questions, and book appointments.

Sure, some of the work may have been sent outside the company’s building, but the work wasn’t, necessarily, sent away to a far off land.

Outsourcing allows for strategic use of available resources in a way that can still maximize output and profits.

What Outsourcing is NOT

1)Outsourcing is NOT sending away our workload for it to be out-of-sight-out-of-mind.

2)Outsourcing is NOT casting our duties and responsibilities to some random person on the street.

3)Outsourcing IS delegating some of our responsibilities to a person or a team of professionals that can help us work more efficiently and effectively.

IT Outsourcing Services

IT stands for information technology, and ‘IT’ has the capacity to transform our entire company in an incredibly short amount of time.

The use of digital outsourcing, usually referred to as IT outsourcing services, has allowed companies to take full advantage of the Internet, as well as cloud-based technologies, to catapult their business into a global market.

In today’s market, the people or the companies that offer the best and most useful IT services are not always within our company’s immediate zip code.

So, the fix?

Find the best company that offers the specific IT outsourcing services that work best with our business needs.

Sometimes, these companies will be offshore or nearshore (meaning they may not be in our country). However, many of these IT outsourcing services employ a mostly remote staff that may not live in the city, state, or even country of the company we hired.

Translation: loads of talent from across the world available at our fingertips to help complete our business goals.

The purpose of IT outsourcing services is simple and direct.

Find the person or team with expert qualities and knowledge that will help our businesses stay competitive in this 21st century, tech-driven marketplace.

A common thought that many of us have: “How do we know if we need to utilize IT outsourcing services?”

That is a pretty easy answer when we ask ourselves these two questions:

  • Are we easily available and visible online?
  • Do we have technological services that increase our business efficiency and efficacy?

If the answer is ‘no’, then our company needs a digital transition and transformative experience ASAP.

IT Outsourcing ServicesDigital Transition

This phrase is pretty much what it implies: making the transition to digital.

For many of us, we already embrace this digital transition in our companies, businesses, and/or services.

  • We use social media, update our websites.
  • Interact with our customers and end-users by using blog-style writing on our sites.
  • Also, we may conduct meetings using virtual platforms such as web conferencing.

But there is still a large number of us that are hesitant to allow the age of technology to find its home within our companies.

Don’t stress.

This is quite common, as technology is always evolving. This continuous tech evolution gives us little room to actually get used to its presence before it changes, yet again.

Change can be hard for all of us.

But, it doesn’t have to be.

Do I Need to Make This Transition?

The short and simple answer – yes.

To stay current in this tech-centric century, we will be passed by our competition if we don’t embrace a digital presence in the marketplace.

Does that mean that we need to begin interviewing avatars and robots to become the face of our company? Absolutely not.

We should just begin with small steps that allow our companies and businesses to transition easily and comfortably into a digital presence.

How Can I Begin to Make This Transition?

Baby steps.

A great idea is to make a list of any types of digital or tech strategies that we use, or would like to use, to market our businesses and companies.

Here are some of the top digital additions to consider:

  1. Start using social media(Twitter, Facebook, Instagram, etc)

    • Send updates of current projects, or even links to our websites.
    • Upload pictures to accommodate all of our visual clients. This is a stellar way to lure prospective next-Gen buyers or clients that utilize this form of social media on a near-continuous basis.
  2. Focus on the company/business website

    • Make sure it’s comprehensive and easy to use and understand.
    • Highlight our services.
    • Include an easy method of contact.
    • Consider using one of the many reputable IT outsourcing services that can offer web design at reasonable prices.
  3. Try using web conferencing platforms to conduct meetings

    • These virtual meetings can save quite a bit of time.
    • Skype, WebEx, Adobe Connect, and even apps like FaceTime are great options.
  4. Think about adding a Chat Now feature to the website

    • This is a widely popular option due to the growing desire for clients to have an immediate response.
    • This is, also, a great way to create a sale or entice a new client.
    • Consider using one of the many IT outsourcing services that can make this feature available and functional on our sites.

Now that we have an idea of how to begin our transition, let’s look at how we can implement and begin a full digital transformation.

Digital Transformation

Let’s talk digital facelift.

We’ve worked on getting an idea of how to transition our business and/or services to a more digital platform. Our next step should be deciding how to begin our transformation to a largely digital presence.

Unless we have the hacker skills of a true diehard techie, chances are that we’ll want to use the expert skills from various IT outsourcing services to meet the evolving needs of a true digital transformation.

Ways that a digital transformation will benefit our company/business:

  • Integrate our services, processes, and activities
  • Mine and utilize important industry data to drive decisions and results
  • Incorporate automation
  • Provide real-time support and feedback for clients
  • Utilize innovative technology to track potential clients
  • Increase our digital traffic and visibility

If any or all of these benefits seem overwhelming or confusing, this is where IT outsourcing services could really help us to delegate our business plans.

Put Them Together and What Have We Got?

Becoming a company or business that offers true digital services to a growing demographic of tech-reliant clients and customers will immediately impact our bottom-line.

Meeting our clients and customers in a booming digital environment will ensure that we stay with or ahead of our competition, as well as cater to the tech-driven global marketplace that is conquering the world.

A strong digital transition and transformation experience will provide us the valuable niche needed to adapt to a truly digital generation.

What’s in It for Us?

Plain and simple: efficiency and effectivity.

Allowing a digital transition and transformation experience to broadly widen the scope of our company, business, and/or service will immediately enhance profits.

Just picture these situations:

  • Virtual walkthroughs for potential home buyers
  • Opportunities for potential clients to contact us immediately using a chat option on our website
  • Ability to upload videos and pictures from our mobile devices to our website instantly
  • Instant opportunities to update our current and/or potential clients about real estate opportunities using social media

Undergoing a digital transition and transformation experience within our business will have monumental impacts on the growth of our company.

Allowing IT outsourcing services to become a part of our business plan to get us into this digital age of commerce will be a decision we won’t ever regret.

Need a bit of guidance? Let me know how I can help.

Digital, What the F$%# is Digital?

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Digital Transformation Definition

What  is digital outsourcing and digital transformation? If you’re asking yourself that question right now, keep reading. I’ve got the answers you’re looking for.

Yep Digital Outsourcing (IT Outsourcings new name, Sometimes it’s more convenient to have someone else do the work for you.

Consider the pyramids. While the Egyptians, of course, paid no one, they outsourced the building of the pyramids to foreign slaves.

Thanks to globalisation we can outsource tasks to workers and companies for less money and time than we would spend if we tried to do those tasks ourselves.

And along with outsourcing comes the need for digital transformation. If you’re in the real estate sector, “going digital” isn’t always easy. Especially if you’ve been in analogue mode for a long time.

What Is Digital Outsourcing?

Essentially, the goal of IT outsourcing is to provide the best possible tech to your organisation at the lowest possible cost.

This is a fluid dynamic because technology is constantly evolving and changing.

Sometimes digital outsourcing has nothing to do with adopting cheaper technology and has everything to do with relying on outside help through technology.

Enter cloud management software as digital outsourcing.

Imagine being able to take a more laissez-faire approach to real estate investing. Does this scare you a little?

The idea of remote investing is a scary idea for some. But it comes with its advantages.

Cloud Management Software Makes You Mobile

What if you could move your whole real estate investment business online?

If you run a large enough business, you have to pay for expensive in-house networks and IT professionals.

With cloud computing, you can completely eliminate that overhead for your business.

And at the same time, you will free yourself from that inevitable ball and chain: your desk.

When all of your management software is online, you’re mobile. You can be where you want to be and still access the information you need.

And with digital outsourcing, any digital platform is available. Choose the platform that’s comfortable.

If it’s a laptop, you have a connection. If that means a smartphone or tablet, you’re even more mobile.

Cloud Management Software Makes You More Efficient

The power of cloud management software lies in efficiency.

Imagine if you could access your rent data, payment data, marketing information, construction report, metrics and data any place anytime.

How much more efficient would your life be?

You’ll be able to manage multiple deals and transactions at once.

Digital Outsourcing Through The Remote Workforce

Not only is your management software online, your workforce is online as well.

As of two years ago, only 23% of workers reported working remotely. But the remote workforce is constantly growing. And more workers today consider remote work more desirable than local work.

Why is this a good thing for you?

Outsourcing your secretarial work and management work will decrease overhead.

If you move online completely, you too can work from home. Digital outsourcing means not paying rent on your own office building.

And if you don’t run a large real estate investment business, you might still benefit from digital outsourcing.

Imagine having a workforce at your fingertips for less money than you would spend on local employees.

How much more work could you accomplish?

Digital OutsourcingWhat Is Digital Transformation?

If you’re looking to radically improve your performance, a digital transformation is the place to start.

Digital transformation is the use of technology for exactly that, performance improvement.

One of the greatest ways to digitally transform your real estate investing business is through digital outsourcing.

And we’ve talked plenty about digital outsourcing. But what are some other ways you can transform your real estate business digitally?

Process Automation

If you run a larger investment business, certain tasks tie up your employees’ time.

Processes like HR, document creation and printing, and many secretarial processes are burdensome.

Why not let a computer do the work for you and your employees?

The menial tasks of an office environment no longer need to be a heavy weight on your worker’s shoulders.

Software automation can transform your business into a machine of its own. And your workers can focus on the real tasks of management and investment.

Digital Performance Management

With a digital transformation, you not longer have to rely on assumptions.

Real-time data is now possible through technologies like the Internet of Things. You can monitor your investment properties in real-time and see construction data as things progress.

Manage employees and management companies better after a digital transformation. Gain detailed information on each and keep tabs on the work being done.

Your decisions can be more strategic and collaborative. And you could possibly know about future investment opportunities faster.

Modified Business Models

If you think it’s about changing how you do technology, think again. Digital transformation is less about the technology and more about how you do business.

When going full digital, it’s now possible to invest remotely with less risk.

And while some investors prefer to operate locally, remote investing can be a wise choice.

You might be able to invest smarter with the ability to invest remotely.

In 2008, the financial crises caused most of the real estate market to go bust. But some areas of the world remained stable despite circumstances.

If you can find locations where real estate remains stable through tough markets, then your investments can be more secure.

With remote investing, you can apply the maxim, “don’t put all your eggs in one basket.”

If locally your investments go south, you can always count on your other investments to keep you afloat.

You can also make your investments go further while remote investing.

For example, if you live in Melbourne and invest in Spokane, Washington, you’ll be able to invest in more properties.

Transforming your business digitally will allow you to do this and more with your investment opportunities.

Conclusion: Transform Your Business

With a full digital transformation definition, your real estate investment business will look completely different.

If you’re looking for a real transformation, consider building digital equity right now.  Matthew T Barton