Outsourcing leads to growth
Lissa Prudencio, Wealth for Women of Color
"One change that had the most impact on growing my business was the decision to outsource tasks — especially the specialized tasks that I was fully capable of doing myself.
Like many hands-on, "Type A" entrepreneurs, I've learned to be scrappy and get a lot done with little resources. But there came a point while building my business that I realized in order to actually become profitable and scale, I had to make some changes.
Over the years I've learned some skills critical to starting a self-funded small business, especially in the creator space. For example, I can film and edit videos, build websites, build marketing strategies, and track financials. While these skills are great to have, trying to do everything myself often led to burnout and lower production quality and quantity.
In the past few years, I took the leap and invested additional money from my personal savings to outsource video editing administrative work. I even hired a social media marketing strategist for a few months.
Even though I felt the temporary "hit" to my business' very small operating budget, the lightened workload enabled me to focus on growing my business. I'm now able to spend more time on critical aspects of the business that require my time and input such as building partnerships, writing content, and creating new revenue streams."
Lissa Prudencio is a personal finance creator, speaker, and business owner who started Wealth for Women of Color in 2022 to give BIPOC women a safe space to openly talk about money and building wealth.