Outsourcing daily tasks and processes to other firms or freelancers is becoming the norm for many small businesses. The large and successful businesses are never shy when it comes to outsourcing and that has played a major part in their growth. Most of them discovered the power of outsourcing when they were just small businesses and that resulted in remarkable growth. Services like bookkeeping, SEO, IT, manual jobs and so on can be outsourced and make the business operations to run smoothly. Kane Georgiou, owner of the top financial blog The Money Pig says, ‘Outsourcing is a key part of the running of our business. Digital businesses are using VA’s, SEO companies, freelancers etc. more and more because it allows you (the business owner) to focus on business growth and profits’.
Why Some Businesses Outsource and Others Don’t
Small businesses don’t outsource because they are trying to cut on costs and when they do, it is often because they lack the skills and resources required for those tasks. Outsourcing, in this case, becomes affordable because performing the functions in-house would require very costly resources which at the moment are all channeled towards other growth factors.
Larger businesses, on the other hand, outsource because that is the only way to reduce costs and influence even more growth. There are still other businesses who still don’t see the importance of outsourcing and they never bother. Which business are you? Whatever business you are, just take a moment and consider the benefits that come with outsourcing.
So why should you consider going this route apart from the fact that the return on your investment will be worth it? Here are the real reasons why all business owners including you must utilize the power of outsourcing.
1. Increased Competitiveness
As a business owner, you definitely want to remain relevant in the market and even become an industry leader. Every business dreams of being relevant and maintain that status in the current competitive markets and for such a business to focus on the important aspects that will help achieve that, they need plenty of time and zero diversion. Diversions come in the form of the small tasks which take a lot of time and would be better off outsourced.
2. Access To experience And Expertise
Outsourcing is an opportunity for small businesses to use skills and experience they don’t have in-house or can’t afford to hire permanently. They, therefore, seek firms with the resources and experience to get the job done to perfection. This is a convenient way of getting things done because once the project is over, the business doesn’t need to worry about keeping the skilled workers or laying them off. The terms of the work are usually clear from the beginning. Besides with outsourcing, you have the opportunity to actually hire great talent in the event that they have done a superb job and you would love to keep them in-house.
3. Reduced Costs
You are just a small business starting out and watching every expense. Contrary to the widespread belief that outsourcing is an additional expense, the truth is that outsourcing is a worthy investment and will actually save you costs. The best thing you can do for your business especially in the early stages is outsourcing the necessary services. This will because you will keep your expenses on the low side and maintain that professional vibe in every aspect of your business. Opting to do everything in-house might result in costly mistakes. Let the professionals handle the areas required at a reasonable fee and you will avoid any frustrating and costly mistakes that depict anything but professionalism in your business.
4. Attractive to Investors
If you happen to be seeking investors to fund your business whether you are pitching your ideas at the shark tank or meeting potential investors in person you will need to present that professional front. Once investors learn that you are outsourcing the necessary services to professional firms, then they will view you in a good light. They will consider you to be a very serious business owner who goes to great lengths to reduce costs and have crucial tasks done professionally.
5. Increased Performance
The reason you are outsourcing in the first place is that you lack the expertise, experience, skill, flexibility and time to do them. When you outsource to a professional firm, you are opening up yourself to better opportunities as a business and the flow of quality services that on your own you would never have achieved. Business performance will automatically go up and you will see the positive overall effect in the profits.
6. Have New and Latest Technologies Working For You
Most outsourcing firms ensure that the services they are rendering to their clients are top notch. If they need to use certain technologies to perform certain services, then they will go to great lengths to research, acquire and implement the use of such technologies for your business. Normally you might not have afforded using such technologies but your business gets access to them because you decided to outsource. Most outsourcing firms will always keep themselves updated on new technologies and want to use them to impress their clients. If you have the best technology working for your business, there is no doubt that the growth chart will steadily go up.
7. Many Hands Make Light work
You might be struggling too much on your own with the bookkeeping, marketing, customer care and dealing with all the other issues that arise. If your business is a one-man show, then it will take you years to grow and you will always be tired every day. This is where most startups fizzle out, no matter how great your idea is, if you fail to plan and know when to outsource some services, then your business is at a higher risk of failing.
Many business owners begin their startups highly motivated then it reaches a point when they want to close it down, count their losses and retire gracefully from business ownership. That doesn’t have to be you. Begin your business motivated and stay motivated from one level of growth to another. Outsource where you need to, that could actually be the motivation you are looking for in order to run your business to another impressive level of growth.
Outsourcing is an answered prayer for many small and large businesses. It is a powerful method of getting things working within a business because the impressive results cannot be hidden. They immediately become clear and all of a sudden nothing feels more attractive than the power of outsourcing.