Welcome to Episode #144 of the Digible Dudes podcast, hosted by David Staley and Reid Wicoff. In this session, we dive deep into the world of insourcing versus outsourcing in business operations and how this dynamic develops as you scale.
Gone are the days of a simple debate. This discussion has taken on extra dimensions in the business world. From real estate to marketing, we explore the benefits and drawbacks of this approach for you.
We begin by reflecting on the year that was 2020, which has undoubtedly shaped the landscape of in-sourcing versus outsourcing decisions. The emergence of third-party management companies and their ability to add revenue sources has had a profound impact.
We shed light on the value of professional services and resource allocation in executive hiring. Specialized insights like tax strategies can yield substantial cost savings, making it crucial to consider the benefits of bringing in outside providers.
As we navigate these decisions, we also explore the influence of technology on the industry and its implications for third-party management companies.
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(01:16) Insourcing vs. outsourcing: what is better?
(03:27) Has your perspective changed on outsourcing?
(07:07) Jim Collins: The Hedgehog Concept
(09:25) When to outsource versus outsource?
(11:41) 4 principles on insource vs. outsourcing
(13:11) Is outsourcing a trend right now?
(18:50) The use cases of third party management
(24:00) Jim Collins: Fire bullets then cannonballs
(30:00) Making better decisions with data
(34:12) Putting your time into recruitment
(37:30) Maintenance & SEO services
(43:30) Hybrid between insource vs. outsource
(50:33) Investing into new technology