In a competitive marketplace, we’re all striving to differentiate our businesses, stay ahead of the competition, communicate our brand values and continuously bring new customers on board. Keeping a small business afloat past it’s first year can feel like a constant balancing act as you navigate the tightrope of trying to grow your operations and markets before you have adequate capital or cashflow.
It’s a chicken and egg scenario – you need to grow in order to attract more customers, but you need more customers in order to grow. It’s a conundrum that has seen many a promising business leader flounder – but there could be an answer staring you in the face. Outsourcing is a strategy that has been used for a couple of decades as a way for companies to trim costs while not compromising on their plans for growth. In the context of escalating wage bills and a highly competitive global marketplace, it makes a lot of sense.
Get Back To Business
You got into business to make a difference and do what you love. So if outsourcing services and tasks allow you to pull back refocus on your core mission and values. It’s a matter of efficiency to concentrate on what you’re good at first and foremost – after all, that’s what will get the profits rolling in. Whether it’s creating digital products, coaching clients or making and marketing a really great product, you should be doing that. Other tasks, like managing your business finances or building your website could be better managed elsewhere. Just think how much time you could save with Managed IT Services alone – time that you could invest better in other areas.
Save On Hiring Costs
One of the single biggest expenses in any operation is the cost of hiring and training new staff. This can be especially acute for fledgling companies whose fortunes can often be volatile. Work may come in waves, leaving you needing to hire temporary staff at great expense – and transient workers often don’t perform to the high standards you need your business to achieve. Outsourcing changes the high fixed costs of the staffing into variable costs which can fluctuate to match the capacity of your projects. If you work in an industry that is seasonally driven, it can be the saving grace.
Find New Resources
Instead of onboarding an employee of your own, you can tap into a whole range of expertise from another network when choosing to outsource. For example, marketing expertise from a full-service agency or knowing exactly how tax works for small business when working with accountants. Your business gets the net benefit of this without having to pay a full-time wage and employee benefits – plus the breadth of knowledge outsourcers can bring will be much greater as well. And if they can’t solve your problem? They’re likely to have access to a wider network of specialists who can. As they focus solely on one area they are likely to be more in tune with industry best practice and be on top of constantly developing their own skillset to make themselves more marketable.