Update on Outsourcing
I thought you may be interested in how we are getting on with outsourcing our bookkeeping work to India!
Actually it is going well after a shaky start. Our first bookkeepers were not very good but we have now changed to another company who are friendly, efficient, contactable and all for a fraction of what we would pay in Australia. We just collate the information and upload it to a FTP site. Easy!!
Despite it working out for us, I would not really recommend you try outsourcing. I don’t want blood on my hands!!
Outsourcing to India
What is Outsourcing??
” Outsourcing” is all about farming your work out to have it done cheaper overseas. It’s a good way of avoiding the high prices charged for western services (e.g accountants, PA’s etc). In fact I believe that the Indians, being very entrepreneurial, will do just about anything to ‘make it happen’!
Timothy Ferriss discusses outsourcing your life in his book “The 4-Hour Workweek“. His is a very entertaining story told by his friend, AJ, involving a PA called “Honey.” I’ll let you read it for yourselves at his blog above.
Needless to say, we just had to try this method! The photo on the left shows our Indian Accounting Team in Bangalore! (Yes, our trip to India was a ‘business trip’!!) They do all our bookeeping and tax returns too. They seem to know what they’re doing and are certainly a lot cheaper than their USA and Australian counterparts.
One friend tried ‘outsourcing’ his web design business but quality control was an issue. Another friend has an Indian do a lot of groundwork for his real estate investing business and has found him very efficient. So, some are good and some not so good.
Also, you would’ve all seen the Commonwealth Games fiasco. Remember, India is different and it is a third world country. You can put up with the craziness when you’re there on holiday, but you don’t want those hassles when you are doing business.
If you want to try outsourcing your own life, see what Tim Ferriss has to say.
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