Taking advice from the best in Australia: Mark McRae
This article is all about putting a face on a very successful business that has its headquarters in Australia, but managed to spread all across Malaysia, the Philippines, South Africa, the USA, and India. One man to rule them all: Mark McRae. His secret: Outsourcing.
Mark McRae is one of the Sunshine Coast entrepreneurs in Australia, has owned and managed more than 30 successful businesses, generating $280 million in offline and online sales. And all of that was done while balancing a family life that includes a wife and three children. His story is inspiring for all young entrepreneurs that desire to be successful on today’s business market.
McRae’s present business is Eagle & Cross Marketing Pty Ltd, a company that lives and depends on a key strategy : outsourcing. As per him, we are advised that almost 80% of tasks can be outsourced. And given his profit, we should take his word for granted!
“Realistically 80% of the tasks in most businesses can be outsourced. If you have a member of staff that uses a computer as the main part of their job, the job can probably be outsourced,” he said.
McRae gives five helpful tips in outsourcing:
1. Focus on your business’ strengths and outsource your weaknesses ;
2. Have a process in place before outsourcing any task or operation ;
3. Assess contractors or outsourcing partners thoroughly by reviewing feedback ;
4. Set clear and measurable objectives ;
5. Evaluate your service provider’s performance against these objectives ;
“Outsourcing can give you access to a dizzying array of highly skilled professionals from all over the world,” Mc Rae added. “With new technology, work is no longer a place, it’s a function, which can be performed anywhere at any time. For example, to produce a professional documentary, I hired a script writer in the USA, film crew from Canada, post-production team in Croatia and editor in Serbia.”
Outsourcing is pure economics – if a certain European product is manufactured in USA that does not make it un-European. Still – we have to keep in mind that this option should be used as an operational strategy and not necessarily as a cost reduction tactic. If we focus only on the money, we may take a wrong turn.
Outsourcing can be a bliss for small companies that desire to raise the bar and compete globally and successfully survive in today’s economy!