Most entrepreneurs have great talents, but many times they think they can do it all. That can really stop business growth. By outsourcing day-to-day tasks, the business owner has more time to focus on generating income. It also saves personnel costs (payroll, taxes, social security …) and space in the work facilities.
When to outsource or outsource services?
For the SME the ideal moment is from the beginning. In addition, there may be projects in which certain tasks are necessary but it does not compensate the hiring of a qualified person on the staff. When you realize that with your current employees you cannot manage and develop the daily business in a satisfactory way, it may be time to consider outsourcing or outsourcing and stop wanting to do and control everything personally to focus on what generates value in your business.
What should you outsource?
The key is not to outsource something simply because you don’t like to do it, because it may be vital to your business. Analyze your business previously, it is logical that if you dedicate yourself to graphic design you do not outsource graphic design because this makes you different from your competition, but you can outsource tax services, website…
Repetitive tasks are usually outsourced (accounting, inventories …), or when you need highly qualified experts (finance expert instead of having a financial director in the company …) or highly specialized knowledge (i.e, technological support in the company.).
Who will give you the right service?
Before handing over the reins, make sure you work with the right partner. While technology makes it much easier than before to find reliable and capable third-party providers, the selection process remains vital. An open and clear conversation with potential contractors about these key performance metrics is essential.
For outsourcing to be successful, you must relinquish control and allow the outsourced people to do the work you hired them for. You need some confidence. If you are going to micromanage all of your outsourcing, you will lose the savings in management attention and time, which is the goal of outsourcing.
Assess the benefits and costs of outsourcing
So what can you expect to pay a contractor to free you from day-to-day tasks and allow you to focus on building a better business? It depends on the type of job you are hiring, the level of experience and location of your provider, and your own preferences.
Conclusion
Although there are risks, outsourcing ultimately offers great benefits to business owners. The process allows you to build a team of trained professionals without adding the expense of full-time employees and avoid getting bogged down with tasks that can be completed without your attention. It’s an affordable and proven strategy to grow your business without letting it take over your life.
When you outsource, you can focus your time, attention, and resources on your company’s core competencies, and spend your time setting new goals and finding ways to achieve them.