Should Your Small Business Consider Outsourcing?
When we think of outsourcing work, we usually think of big businesses who can afford it. But, the truth is that outsourcing can be an effective approach to sustaining a successful small business. When we talk about outsourcing, we mean contracting or partnering with other business to complete different aspects of your work. If you’re looking to cut costs, become more efficient, or make more time for other “big picture” items, outsourcing might be a good option for your small business. Here are some popular ways to outsource and benefits that you might see as an outcome.
Make Time for “Visionary” Thinking
Day to day tasks of maintaining a small business can take up a lot of time. For a small business owner, time is precious no matter if you have a small team or if you’re the sole employee. Outsourcing tedious and consistent work helps make time for long-term strategy and visionary thinking. What we mean by this is that the more time you free up, the more time you have to spend on growing your business. Where do you see your business going in the next three to five years? Do you want to expand your business but don’t have the time? This is where outsourcing can become an integral part of your business’ success.
Produce Better Work
When we outsource work, we have the opportunity to work with people who specialize in whatever it is that we’re asking them to do. Whether it’s graphic design or accounts payable, chances are we will choose to outsource the work we have experienced the least. Sometimes it’s better to outsource the design of your new website rather than spending the time to figure it out yourself.
Cut Your Costs
Allocating where your funds are going and where your revenue is coming from is a crucial part of running a business. If funds are tight, or maybe you’re just being smarter about your capital, outsourcing is a good option. When small businesses choose to outsource, they’re eliminating the need to hire and train an employee for a specific task or area of work. This way, funds are freed up and now available to use in different areas like expansion and investment.
Okay, okay we’re ready to outsource. Now what?
If you’ve decided that outsourcing is the right choice for your small business, here are some areas to consider to outsource:
IT is such a specialized field that it can be difficult and time consuming to learn yourself. IT includes a lot of different areas like maintaining your website, upgrading and maintaining your security, hardware and software.
Tired of balancing your own books? Or, maybe tax season got the best of you this year. Whatever the reason, you’re not alone when it comes to outsourcing accounting needs, in fact, many small businesses choose to outsource accounting.
Social Media and Marketing
Maintaining your social media accounts can be very time-consuming. Social media platforms and marketing techniques can also be confusing for those who are unfamiliar with them. There are many outside contractors who specialize in maintaining your social media handles, marketing strategy, blog writing, and web-design/ content. If you’re spending too much of your time keeping up with Facebook, and not enough time strategizing, it may be wise to outsource.
What’s been your best outsourcing move?