Starting a new business, is a drain on your investment monies i.e. ‘working capital’ so using it wisely will be your first priority. Doing every job yourself at the outset of your startup especially while revenue is non existent or very low is doable however it’s not sustainable if you want your business to grow. It’s not ‘rocket science’, more common sense insofar as If you as the owner is ‘everything to everyone’ you’re working hard in the business but not ‘working on the business’ which is essential for planning its path to success. So to save on staffing costs businesses consider outsourcing. Today, it’s acceptable to do it and thus it has become second nature to most businesses to outsource more and insource less.
A good outsourcing plan offers the following benefits:
- Frees up more time
- Gives continuity
- Offers operational expense control
- Supports Risk management
- Time management that gives you a better work-life balance
So what Top 5 areas of a business are typically outsourced?
A clean workplace is a given in today’s environment. Not to mention it better for your health and that of your workers. Filthy offices are said to make us sick. Plus a clean and de-cluttered workplace can reduce stress and improve productivity. Outsourcing office cleaning to a reliable company like Simpo Commercial Cleaning Company who are now famous around Sydney, Australia if you’re based here makes sense. Outsourcing cleaning was the first area of a business to get the ‘tick’ of approval for using a third party.
Outsourcing payroll management is also a popular area and recommended for business of all sizes including startups. Using experts in the field who understand complicated business and tax laws is clearly beneficial to any business keen to avoid errors. A simple mistake made in the salary for example could trigger unwanted tax audits that may cost your business dearly with a fine. Companies like Wagepoint and Intuit are successful in the field of payrolling.
It is essential to have a record of every financial transaction in your business. Bookkeeping and keeping your accounts in order is often ignored by inefficient businesses. There are many advantages for using a third party to manage the business’ accounting and financial reporting. Do your research in this area as hiring a dedicated accountant to do the lot could be more expensive than outsourcing some of the tasks to a booking keeping administrator. That’s a fact.
Repetitive tasks like scheduling work or setting an appointment could seem small. In most cases, these small tasks take more time than expected. Consider hiring an online virtual assistant or a company that offers admin service. When you hire someone, you pay hourly rates, making it relatively cheaper than having an employee. Give importance to your core processes and outsource simple tasks that anyone can handle.
Marketing in general is an area that is being increasingly outsourced mainly due to it’s diversification into offline and online disciplines. Building a strong profile with website via your blog and social media websites needs expertise in digital marketing strategies like content and SEO. However it is time-consuming and time wasting if you don’t know what you’re doing. Outsource your content creation for your blog as well as hire a digital marketing company to help you with all online marketing needs. Get your marketing strategy honed and campaigns templated. A lot of business is generated from new content however you need the data capture processes in place to capture the interest and convert it into sales revenue.