Business Process Outsourcing, or BPO, refers to the process of contracting standard business functions to be handled by a party outside of the company.
What is an example of business process outsourcing?
Business process outsourcing (BPO) is the practice of contracting a specific work process or processes to an external service provider. The services can include payroll, accounting, telemarketing, data recording, social media marketing, customer support, and more
Many businesses, from small startups to large companies, opt to outsource processes, as new and innovative services are increasingly available in today’s ever-changing, highly competitive business climate.
Broadly speaking, companies adopt BPO practices in the two main areas of back-office and front office operations. Back office BPO refers to a company contracting its core business support operations such as accounting, payment processing, IT services, human resources, regulatory compliance, and quality assurance to outside professionals who ensure the business runs smoothly.
Business process outsourcing is on the climb, evidenced by the fact that in 2017, the estimated global market size of outsourced services was 88.9 billion U.S. dollars, which was up $12 billion from the previous year.
Business process outsourcing (BPO) is a method of subcontracting various business-related operations to third-party vendors. Although BPO originally applied solely to manufacturing entities, such as soft drink manufacturers that outsourced large segments of their supply chains, BPO now applies to the outsourcing of services as well. BPO is deemed "offshore outsourcing" if the contract is sent to another country where there is political stability, lower labor costs, and/or tax savings.
Why is a Single Operated Newsletter the new way to create financial freedom online?
1 – You can create a subscription base without becoming a social media influencer.
2 – You can control the platform something you can not do with YouTube, Facebook, and yes, even Instagram.
3 – You can get paid directly for the content provided to your readers. This eliminates the possibility of getting knocked off the big platforms.
Many people, often older, are still having trouble believing and accepting that a person of average intelligence can generate a salary on their own through a Single Operated Newsletter.
This is where PaidLetter comes in with their CENTS model.
What is the CENTS model?
Popularized by MJ DeMarco, writer of “The Millionaire Fastlane,” the C.E.N.T.S. approach to entrepreneurship means:
C – Control – to create true financial freedom you must control the “product”.
E – Entry – or more properly put: “create a barrier to entry”. This is sometimes called a moat!
N – Need – You must create the content that your readers will eagerly pay to access.
T – Time – As Tim Ferriss so aptly described in The 4-Hour Workweek you must find a muse that will allow you to separate your time from your income.
S – Scale – Many physical product entrepreneurs are learning hard lessons about the complexity of importing, warehousing, and shipping. And the high costs associated with them.
Single Operated Newsletter DIY platforms
The current list of Single Operated Newsletter delivery platforms is small but growing each year. Although they give you a mechanism for sending the emails they don’t give you the insight and proven process to know what to send (like PaidLetter.Com does).