Outsourcing Can Help Small Business
When interviewing business owners one of my favourite things to do right at the start is play the crystal ball game. Huh? We role play a scenario where the owner is given a crystal ball and allowed to ask for 3 tactical wishes to help in their business. Sorry, no give me a Billion dollars or a flatter stomach! That’s not the point of this exercise. After we get past the What is this guy on? look the answers are almost always the same.
- More Time
- More Help
- Make this (entrepreneurship) not so hard
Role playing brings a little fun into the interview but on a deeper level it cuts to the chase to uncover the owners true pain points in their business. Yes, entrepreneurship is this hard. No your competitor going gang busters is not without issues of their own. No one gets a twenty-fifth hour in their day. You’re not special. You’re not Superman. And no, you don’t need to be alone in this.
Avoiding Business Overwhelm
In competitive industries, any business, not just small or medium business can quickly become overwhelmed by tough economic conditions. Do you think Tesla has a fast lane to easy street? Just ask Elon Musk! The goal for any company is to manage its overhead and operational costs to improve production and profitability. This means careful management of expenses and investing in independent services or outsourcing instead of hiring permanent staff. If you are looking to develop your small business, grow your brand and control unnecessary costs, the following strategies for outsourcing could be of immense value for you.
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3 Key Areas to Consider Outsourcing :
Your small business could be the envy of most medium to large companies with an efficient, reliable and exceptional approach to managing its finances. I have seen many small business run flat-out better and more efficiently than multi-million dollar enterprises and government. Competitors have in-house auditors and financial departments, but outsourcing bookkeeping, accounting and payroll operations provides your enterprise flexibility and affordability.
A failure to stay on top of tax submissions and expenses could have a severe impact on small business. This is a very real problem for many. Case in point leads us to a small plumbing business having run for a few years. The owners found themselves inundated with overdrafts, outstanding credit, and sales tax charges. To put it mildly, they were going under and fast! An inability to afford an in-house financial management team led to the outsourcing of their accounting services. With limited time to dedicate to its monetary matters and the threat of foreclosure, the independent consultants could mange the firms professional finances and create fiscal stability.
Through outsourcing, the owners managed to save the plumbing firm. Their specific case, if you were curious is no way unique.
– Media Marketing
Has your business ever struggled to expand, create brand awareness or launch advertising campaigns? If so, then it’s time to step out-of-the-way and take the initiative to outsource your media marketing. The right online strategy delivered by an independent media agency provides tools to develop appealing websites, social media and mobile applications to reach your consumers.
More people now use the internet than ever before. As a result, if you fail to have an effective online presence, your business will suffer. Chances are very good that it already is. A key point here is that regardless of whether you act on this or not, your competitors are already adapting to technology and changes in consumer requirements. You need to do the same.
By outsourcing your promotional strategies, your business benefits from a marketing agency’s experience plus their innovative and professional approach. The upcoming enterprise can continuously save as costs on staff training and correcting failed marketing attempts can be avoided.
Maybe it’s time to put your marketing on auto pilot and focus on running your business.
For smaller companies, the option to focus on its main production and organizational processes can help achieve goals faster. Administrative tasks can take an unnecessary amount of time to complete. Ask yourself, do I really need to be the one doing this filing right now? Where could my time be better spent? Managing employee schedules, filing and similar front office tasks are best-managed by an experienced outsourced team.
Outsourcing some administrative duties provides your business with more free time to focus on production, services and sales. Your new enterprise simply can’t afford the stretched costs of hiring. In-house, permanent staff come with salaries, employee benefits and insurance that all need to be covered. Why not take advantage of outsourcing some administrative tasks? Doing so wins in two ways. You will be saving financially and gaining the skills, experience, knowledge and support of a professional team. What’s not to like from that offer?
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Why Outsource as a Small Business ?
Simply stated; to make things easier and you more productive in all the right places. Your new enterprise and brand Whether you need help in the financial department or you are struggling with a successful media campaign, discover just which solutions your independent team of accountants, IT experts or administrative personnel can offer.
Don’t be afraid to move forward with an outsourced team (even in part) as it could change your business for the better.
Thanks for reading!
Also published on Medium.