Filed under: Small business

“It’s common for business owners to want to manage everything,” said Fabio Rosati, who is the CEO of Elance, which is a web-based system to help businesses find, hire, and manage professionals. “But it’s now getting easier to outsource no-core functions, which is what bigger companies are doing.”

Basically, outsourcing can be cheaper and mean higher quality (do you really need to understand payroll?). More importantly, you will have more time to focus on the things you do best, which should help to grow your business.

So what are some of the things you can do?

Time audit: As a result, it’s a good idea to do a “time audit.” That is, where is most of your time being spent? And can some of these activities be offloaded — leaving you more time to make money?

Find qualified people: No doubt, there are many people who want your business — but, of course, they’ve varying levels of quality.

To deal with this, you might want to seek out prospects from your own network, such as by sending out an email to trusted friends or perhaps use your LinkedIn network.

Another approach is to use on the internet platforms, such as eLance or RentaCoder.com (to hire programmers). These sites usually have community rankings of the service providers.

Baby Steps: Outsourcing can be tricky so be careful. “I suggest starting small,” said Rosati. “Also, make sure you spend time defining the scope of the project. And since the communication is likely not to be face-to-face, make sure the communication is clear.”

Think out-of-the-box: Just about anything can be outsourced.

Look at Jonathan Fleming, who is a real estate agent. He outsources: sales letters, his blog, and his customer database. “The capability to have a corporation of people working for me without people on my day payroll is astonishing,” he said. “You have your army when you need them.”

Interestingly, Timothy Ferris wrote a book on this topic, The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich. His virtual assistants help him with scheduling, reading his email and even online dating.

Tom Taulli is the author of various books, including The Complete M&A Handbook. He also operates DealProfiles.com.

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Filed under: Next big thing, Small business

I’m a big fan of LinkedIn, which is a social network for professionals. In fact, the service has helped me get sources for some of my stories.

But competition is starting to emerge, the latest comes from Hoover’s, a part of Dun & Bradstreet (NYSE: DNB). Hoover’s has acquired Visible Path, which develops an enetrprise-class social networking platform.

So what makes Hoover’s Connect different? Essentially, it’s a LinkedIn for individual companies and the system integrates with Microsoft (NASDAQ: MSFT)’s Outlook and other products.

Perhaps the biggest key, however, is privacy. After all, if you are a major executive (who has the power of the checkbook), do you want your contact information freely available?

Hoover’s can also leverage its massive base of business customers. For example, it is possible to use the system to develop referral paths for various companies, making it to make it easier to make a connection. Actually, according to a study from the University of Chicago and University of North Carolina business schools, it is 16 times more likely to get a response from a trusted source versus a cold call.

Tom Taulli is the author of various books, including The Complete M&A Handbook. He also operates DealProfiles.com.

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Filed under: Good news, Internet, Google (GOOG), Amazon.com (AMZN), Next big thing, Small business

Often, startups will issue a stuffy press release when announcing their venture rounds. But in the case of Etsy - an on the web platform to buy and sell handmade goods - there’s actually a detailed blog post from the co-founder Robert Kalin, which even includes a video.

In all, the company raised $27 million in a venture round. The investors include Union Square Ventures, Hubert Burda Media and Accel Partners. In fact, Accel Partners’ Jim Breyer is taking a board seat (keep in mind that he invested in Facebook in the early stages).

Kalin goes into lots of detail on the “use of proceeds.” Etsy is going to invest about $5 million in hardware and servers, and there will be massive improvements in the payment processing system, which is on par with Amazon.com’s (NASDAQ: AMZN). Oh, and the company wants to provide Google-like (NASDAQ: GOOG) search functionality.

Even without such things, Etsy is getting lots of traction. The community has more than 650,000 members and there are more than 120,000 sellers.

And as seen with its funding press release - which is one of the most transparent I’ve ever seen — Etsy certainly takes the concept of “community” very seriously.

Tom Taulli is the author of various books, including The Complete M&A Handbook. He also operates DealProfiles.com.

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From Gaping Void 

Tags: Cartoon Thursdays

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Filed under: Estates

I don’t describe too many homes as romantic but looking at the pictures for this one, that’s the word that first sprung to mind. Now this could be because I’ve certain romantic associations with Nob Hill in San Francisco (and specifically with the Nob Hill Inn) but I think it’s the home. This stately home was built in 1915 in the flourishy Beaux Arts style. It has four bedrooms and has a beautifully extravagant redesign by interior designer Paul Wiseman that relies on a palette of creams and whites with rich golden tones. The home has private offices, a wine cellar and a “pentroom” on the roof terrace that offers beautiful San Francisco views. It is listed at $7.9 million.

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Filed under: Estates

Ever wondered which neighborhoods are experiencing the most growth and are the most lucrative in terms of real estate investing? Forbes has compiled a list of the top five neighborhoods that have grown above and beyond the rest. Whether the growth is due to a dramatic drop in crime or rezoning and infrastructure development, here are the top five and their percentage of growth since 1990 which make the rest of our hometowns look measly on the investment scale.

• Miami Beach (City Center) in Miami, Florida — 1532% growth
• Ohio and Westgate Avenues in Los Angeles, California — 3081% growth
  
• Rosslyn/Highlands in Washington, D.C. — 566% growth
  
• Riverside Drive and 149th Streets in New York City, New York — 4391% growth
• Grove and Webster Streets in San Francisco, California — 522% growth

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Filed under: Estates, Sports

More proof that Nascar is massive business comes in the plans for a luxury residential tower in Concord, North Carolina near the Lowe’s Motor Speedway. The Arcadian will include penthouses, corporate suites and one-, two-, and three-bedroom units as well as a parking garage,conference rooms, a putting green, theater, fitness center, terrace pool, concierge services, shops and a signature restaurant. According to a report in the Charlotte Observer, buyers have sign contracts on 30 units since sales began in late November. The goal is to have the building ready no later than fall 2012 but that depends on sales. One Charlotte, the 40-story luxury building planned for downtown Charlotte, which we covered last Might, has now been delayed. The tower will have 13 stories with 151 units priced from $395,000 to $3 million.

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Filed under: Estates

This home is so stereotypically Martha’s Vineyard you can practically smell the salt water. The new shingled home is in the Cow Bay area of Edgartown the main town on the small island off the coast of Cape Cod. You don’t get ocean views with this one but you get water views of Sengekontacket Pond. The home also has access to private association beaches of Cow Bay on the eastern shore of Martha’s Vineyard. The five-bedroom home is either very staged or decorated by someone with a keen love of the preppy. Check out the living room complete with model sailboat and the quilt with the nautical flags. There are also two master suites with private bathrooms. The home is on a little over two acres and has a heated inground pool. Pools surrounded by grass don’t exactly light my fire but this is probably just a place to rinse off since you’ve got the ocean so nearby. It is listed at $6.5 million.

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