Outsourcing Possibilities
Companies outsource to save costs, focus on core capabilities, solve capacity issues, enhance service quality, and access new talent. Here are seven areas you may want to consider outsourcing.
WHEN TO OUTSOURCE:
You're at capacity
If you’re taking on as much work as you can do, that’s great, but is a delicate balance to maintain if you get more inquiries.
You're turning down client projects
If you’re turning down work because you don’t have enough time to get it done, those are lost opportunities for your business.
You're working too many hours
If you're like most small business owners working six or seven days a week, that may be a sign that there is an opportunity to entrust some part of your business to an outside professional.
You're falling behind on work
If you have items on your to-do list that just never get checked off, or your list keeps growing even though you’re steadily working, outsourcing can help you catch up with work.
You lack training
If you lack specific expertise, it may cost you more in time to learn how to do a task than it’s worth to hire someone who can execute it immediately.
You're avoiding certain tasks
If you’re procrastinating on certain tasks, that could be a starting place for ideas on what to outsource so you don’t neglect areas of your business.
Your rate is higher than the cost to outsource
If you can charge a client $250 an hour, but it only costs you $50 an hour to pay a freelancer for a task, it may make financial sense for you to outsource that task and do client work instead.
WHAT TO OUTSOURCE:
Marketing
Outsourcing your marketing can save you time, allow you to benefit from the resources the provider uses, and can put your marketing in accordance with best practices.
Accounting
Accounting is one area where mistakes can be especially detrimental to your business, so you can reduce your risk by trusting a skilled person or service to manage your bookkeeping, taxes, and/or payroll.
3D Renderings/CAD
Freelancers can handle 3D Renderings or CAD work and many pros bill clients for the cost to produce these.
Human Resources
Outsourcing HR can help you stay in compliance with current laws. It’s a possible solution for companies who don’t yet need help from an on-site employee or it can cut costs.
IT Support
Experts say business owners should outsource IT support if they have fewer than 20 employees.
Virtual Assistant
If you have a lot of assorted administrative work, a virtual assistant can take care of research, data entry, presentation creation, email inbox management, travel booking, and scheduling.
Answering Service
Make a positive first impression with a potential client, save time by not handling initial client intake or fielding simple questions, and never miss new business calls.
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