Outsourcing is a viable option for businesses. That is regardless of where they are in terms of size. For instance, a startup with a limited budget can maximize the practicality of outsourcing without needing to eat into their capital funds. Even a relatively large operation can benefit from outsourcing’s capacity to optimize system flows.
You have a couple of outsourcing options to explore. There’s inshore outsourcing where you partner with business providers within your immediate area or country of residence. There’s also offshore outsourcing, where you get the help of professionals overseas. The latter is the more cost-efficient option.
As to which tasks you can outsource, the possibilities run the gamut. Here are some of them.
Marketing experts advise businesses to spend at least 30 percent of their profit on a diverse marketing portfolio. That’s logical enough given how marketing sustains sales. However, via outsourcing, you can significantly reduce that recommended figure.
PR efforts should supplement marketing campaigns. And the best approach is to partner with a PR provider that knows your industry inside and out. For example, if you run an eye clinic, pick an eye care PR company. They should know how to get you in the good graces of the eye care industry’s stakeholders.
Keeping an IT staff under your payroll is expensive. The alternative is paying an independent IT solutions provider. You can sign up for services ranging from website maintenance to online security management. You can rest assured you’re working with experts, which you did not have to headhunt.
Speaking of headhunting, HR management is another system that can eat into your profit. That is unless you partner with an HR solutions provider that can handle your recruitment needs from job posting to training. Independent HR outfits have trained and dedicated professionals who can match you with the perfect candidate.
Unless you manage a global corporation with outposts in all seven continents, it’s impractical to have an in-house legal team within your organizational structure. You can make do of one legal counsel on a retainers basis. You’re spared from paying employee benefits and other attendant expenses while getting the legal advice you need when you need it.
There are repetitive admin tasks that you can automate. However, if automation software is beyond your financial capacity, the next best thing is outsourcing. You can hire virtual assistants who you pay by the hour. They can accomplish a range of tasks on your behalf, from scheduling appointments to sending official correspondences.
Research is vital to businesses. Regardless of what product you offer, you need to research at some point. For example, if you’re planning an overseas expansion, your decisions need to be informed by hard facts from stringent research. You do not need to hire full-time employees to do the job. Give the work to independent contractors instead.
Do you need a speech written? A poster designed? Or a video produced? All of these tasks you can outsource. And that’s by the project. Your startup does not need a creative department. That is unless you’re an advertising or production agency.
Your financial records must be in order. That way, you know the money that goes in and out. Again, this job can be done by someone offsite, not under your employee payroll. Just make sure you hire a certified accountant.
This is something you cannot outsource offshore. But surely there are cleaning service providers within your immediate vicinity. You can schedule office maintenance so that it does not distract your business operations without compromising the cleanliness of your workplace. Some businesses schedule office maintenance at nighttime. That way, your employees can focus on their job.
Outsourcing is a smart way to do business. You get more done by spending less. Plus, you and your in-house staff can zero in on systems that have the most critical impact on your business.
It’s even safe to say that outsourcing is the future for most businesses. Time will come when a skeletal office-based staff would be enough to run even a relatively large operation. That’s already happening in the e-commerce industry. Sellers maintain their sales and inventory staff, for example, while outsourcing their customer service and admin needs.
If you haven’t yet, give outsourcing a try. Rest assured that the money you invest will be aptly rewarded. And if in case the strategy does not work in your favor, there won’t be a considerable financial loss.