Every new business wants to be a success. It seems that it’s easy to think of an idea and get it rolling from the comfort of your own home, but when it comes to bringing that business into the spotlight and away from the second bedroom in the home, that’s where it gets complex. Your new startup isn’t going to be the easiest thing to run, with some tasks being too difficult to manage with your own skillset. If you are going to start a company, you cannot just focus on your strengths. You must focus on your weaknesses, so that you can drive your business in the right way.
Business owners who refuse to see their own weaknesses will not succeed in their new venture; it’s just a fact. Business owners who recognise where they are not strong are the ones who will go far, as they will easily recognise how to solve a problem that they personally cannot. Outsourcing is one of the biggest problem solvers for most business owners, and those who embrace outsourcing as a legitimate part of their business plan will be the ones who thrive.
There are so many reasons a business should look at outsourcing some of their day to day tasks. Some of those reasons include freeing up managers and business leaders so that their time is better spent on furthering their business instead of spending time on mundane tasks. These activities are income-generating ones that need that business brain to focus on them and so outsourcing becomes a vital part of the business cycle. Recognising where you lack as a business leader means you can find the experts who DO know what they’re talking about, and you can divert business funds to those experts. This type of investment is extremely smart, as you are not only collaborating with an outside company and learning how to manage those relationships, you are getting the best for your business in return.
Accessing expert talent with outsourcing will not only increase the effectiveness of your business, but the efficiency of how you run it. Companies that you outsource to can offer a different perspective, the latest technology in their field that you wouldn’t have access to and creative solutions that are beyond your own remit. All of this will eventually increase your company’s cash flow and decrease your expenses. Outsourcing means you are not paying a full time employee in your own company and you can save money that way. You also invest in less risk, as outsourced employees are often freelance and therefore are responsible for their own tax. There are six specific business areas that you can outsource to, and we’ve listed them for you below along with the reasons that you should look at outsourcing as the next business solution for each area. Some people may ask whether it’s the right expense for your company, but the real question with outsourcing is: can you afford not to?
Administration. There is nothing more mundane for a business owner than focusing on paperwork. Companies across the globe employee administrative teams for all those tasks that income generators do not wish to focus on. You can outsource everything when it comes to administration, from virtual receptionists like these ones, to data entry and typing. Hiring a freelancer to work at home on data entry or typing for your business means you can save money on office costs. While these tasks are vital for your company to continue running, they are not what makes your business its bread and butter; these are just the padding and the legalities you need to have running in the background to keep the business compliant. Outsourcing these tasks takes them out of your hands and means less time on tasks that do not interest you or your company’s bottom line.
Customer Service. Think about all the large corporations out there that run your TV service and internet service. When you call them with a problem, are you dealing with the CEO of the company or are you dealing with a customer call centre? Customer services is vital for the continued success of a company, but if you are spending more time on sales and leads and not enough time on improving your business and heading to your business goals, are you really making progress? Outsourcing your lead generation and customer service to an internal sales force can make the difference in the time you are spending on your business. You may not have the closing skills required that a talented salesperson will have, so utilising those skills and using your strengths elsewhere makes outsourcing valuable to your company.
Accounting. One of the biggest business activities is accounting. It’s not just about paying your staff, but your suppliers, your clients and your bills! There are people out there who specifically learn all about accounting and finance, and make their living out of it. A smart business practice is to bring in an external accounts team to manage those finances for you. It’s a good business decision, to utilise the expertise of a finance team rather than trying to do it all yourself. You can save so much money, time and headaches simply by outsourcing your payroll processing.
Marketing. The birth of the internet and the growth of technology has meant that marketing budgets are expanding for a lot of businesses. Using a Digital Agency for your marketing requirements can make a huge difference to the way your company is presented to the world, as you are hiring experts who live and breathe marketing techniques that your company needs to thrive. Effective marketing will make the difference between whether your company has a good image to the customers you want to attract or not. You can rely on an outside marketing company to put your business needs first; after all, if you do well, so do they! This kind of collaboration can mean that continued profit in the future will happen.
All companies in the present market rely on technology to keep them afloat. No company can thrive without an effective business website and it can be very expensive to handle IT practices inhouse. A business owner is limited in their IT knowledge, unless of course the whole nature of your business is computers and IT! Either way, you will still need an expert team on hand to keep your data and intellectual property intact and secure, and that’s where outsourcing can come in handy.
Human Resources. When you hire employees, you would usually seek legal advice on how to write contracts and manage employee benefits. This is where an outsourced HR team can be so valuable for your business. You can go so much further with your company if you are asking the right people for help. Human resources professionals are also far more up to date on the latest practices and laws in employment than you will be, meaning that they can manage your employee administration better than you can.
It’s time now to start searching for the best outsourcing teams for each of these sectors, so that you can get the best for your cash. You want your business to thrive, so look at the places you are most lacking and maximise your profit in those areas. There’s no need to hold yourself back as a business by piling all the work on top of yourself. Get it outsourced and watch the profits fly in.