Could you benefit by freeing up more hours of your day? In the beginning many small business owners wear multiple hats, probably including payroll, marketing, product development, and many others. Lately, you may find that you just can’t do it all, you can’t be in two places at once, and you just need some help. Then the question becomes, should you do something in-house or outsource? You may think of outsourcing tasks as something that big businesses do, but small and medium-sized businesses can also benefit from outsourcing some of their workloads. Here are some of the key benefits to outsourcing.
Does your staff have the required resources and skill level needed to handle a particular task? Many business owners tend to think it will be faster and cheaper for them to handle tasks themselves, tasks that sometimes range from bookkeeping to administrative work. The truth is, trying to do everything yourself, particularly if it’s outside of your skill-set, can result in much higher expenses, costs that eventually must be passed on to customers. There are professionals out there who can accomplish what you want in a way that saves you both time and money. Don’t spend the majority of your time, or your staff’s time, on efforts that aren’t core business-building activities. If payroll isn’t a core business-building activity, outsource it to someone else.
Does outsource mean “overseas?”A global economy means that outsourcing tasks can be done through overseas companies. However, companies can also outsource tasks to companies that are local, perhaps a business that is down the street or at least within state or national boundaries.
Hiring and training staff is expensive. If you need help with a process or project that is temporary, that requires expertise that isn’t already available on staff or detracts from your core business functions, outsourcing those tasks can reduce labor costs. When you delegate tasks that can be performed elsewhere more economically, you reduce your labor costs, allowing your employees to focus on their work. Quite often, by outsourcing specific tasks, you can take advantage of that provider’s economy of scale, giving yourself a competitive advantage. With Safeguard’s online marketing services we can show you how email marketing can be as easy as 1-2-3 with the right service.
Reducing labor isn’t the only cost-saving measure for outsourcing; businesses can also control their capital costs. When a business outsources tasks, they are converting a fixed cost to a variable cost. Big companies often employ their own in-house support services, services that smaller businesses just can’t afford. Outsourcing tasks gives small and medium-sized businesses access to the same expertise that the large companies already enjoy. Suddenly a business can find itself with more available capital that could be put to use for other revenue-producing activities.
Further, outsourcing tasks is a way in which businesses can reduce their risks. Business can change rapidly, and, by outsourcing tasks, you eliminate risks in those areas, leaving it to the experts instead.
Focus On Your Core Business
As your business grows and you get busier, you may find yourself pulled in more directions. There will come the point where you will have to make a decision about where to focus your energy, and that focus needs to be on your core business, spending time on the things that will continue to move your business forward. Think strategically about what you aren’t good at, what you don’t have time for, and what you need help with. Rather than struggling to piece together a brochure that doesn’t capture your attention, outsource that task to a design studio that has the expertise to make your brand stand out.
What tasks could you outsource? Many small businesses outsource tasks like payroll, accounting, distribution, and marketing. When you stop spending your time in areas that aren’t core business-building activities for your company, you have the opportunity to seize other opportunities and start new projects. Shift your focus towards the work that serves your customers and let our experts help with the rest.
Outsourcing isn’t just for big businesses. Your local Safeguard advisor will work with you to identify the products and services that will make managing and marketing your business easier and more effective. Contact us today to get started.
- Small and medium-sized businesses can benefit from outsourcing some of their workloads.
- Outsourcing tasks will help improve efficiency, control costs, and allow you to focus on your core business.
- Many small businesses outsource tasks like payroll, accounting, distribution, and marketing.
- You can outsource tasks to Safeguard with the help of your local advisor.