Five Things Small and Medium-Sized Businesses Can Outsource

 

Why you should outsource civil engineers?

Before we get right down to it and discuss the five things small and medium-sized businesses should outsource, let’s take a quick look at the differences between SMBs and large corporations. It should be clear to anyone how small- and medium-sized businesses differ from big businesses and large corporations. The most obvious aspects include—of course—the size of the business, the legal structure of the business, business financing, and market niche, among many others.

But this article will not dwell on those differences nor take a closer look at each of them. What this post will focus on, as mentioned, are five things that small- and medium-sized businesses can outsource.

We can focus a bit here, however, on the financing of the business in that for a startup, small business, or medium-sized business, any reduction in overhead costs obviously frees up resources to help focus on organizational growth. One way this can be done is through outsourcing.

Now, you may think, “Outsourcing is not for my company, it’s more suited for big corporations.” Nothing could be further from the truth. While it’s true that larger companies have more financial flexibility when it comes to outsourcing tasks—or even entire departments for that matter—startups or SMBs, if they play their cards right, can make outsourcing work for them. One way of doing this is picking and choosing the right positions to outsource. Without further ado, here are five things that small- and medium-sized businesses can outsource.

1. Payroll

This is one of the most obvious things that an SMB can outsource, and for good reason. Not only is payroll one of the most tedious but most important part of a business, it can also be one of its most challenging—there are a lot of numerous requirements, regulations and tax laws that you need to be highly familiar with. And one simple mistake with your payroll may result in tax audits and can cost your company thousands or even hundreds of thousands of dollars.

So instead of handling your own company’s payroll, or paying for a huge overhead of a team of full-time in-house accountants, why not consider outsourcing? A reputable and reliable outsourcing provider who has years of experience will, for sure, be familiar with the tax laws and regulations of the company they will be servicing, so you don’t have to worry about that aspect. Outsourcing providers who specialize in payroll services will help you avoid costly mistakes associated with payroll and will save you time and money.

2. Bookkeeping

Again, another no-brainer. This company function nowadays is best outsourced. Why? Similar to payroll, bookkeeping is painstaking and time-consuming. Not to mention the fact that everything about a company’s books should be of utmost confidentiality.

Indeed, there are a few things that should be more private in a company than its books or internal records. This is information that you as a small- or medium-sized business owner should keep confidential and secure. And looking for a bookkeeper that you can trust can be a challenge. In fact, hiring an in-house bookkeeper, most of the time, won’t be in your best interests. Why? Would you honestly want to hire a local bookkeeper who knows your company’s financial health? So the answer here is to—obviously, for peace of mind—outsource your bookkeeping.

3. Content marketing

Online content marketing, in this Internet age, should not be overlooked by a company, especially by startups and SMBs. For fledgeling companies, it’s a must to educate your target audience about your brand with easy-to-digest content without getting too “sales-y.” This is the value of content marketing, but small- and medium-sized companies might not have the money and resources to hire a dedicated team of in-house content marketers. The answer is outsourcing. You can start by tapping a single writer. You can always outsource more positions for your content marketing as the business grows.

4. Lead Generation

Another company function that’s ideal for outsourcing is lead generation. This is because while other departments are best suited to be filled in with local in-house positions, lead generation is unique. A good lead-generation specialist who is Google AdWords certified can do his or her job well and generate good-quality leads for your company, regardless of industry, no matter the location.

5. Administrative Tasks

Ever heard of virtual assistants? The past few years they’ve been the rage because virtual assistants—if hired through a reputable outsourcing company—can do a thorough job when it comes to taking care of your scheduling and administrative tasks. When you hire a virtual assistant, you pay only for the hours wherein admin tasks are handled. Imagine eliminating wasted hours spent on setting up appointments, replying to emails, and other repetitive tasks. These are the five things small and medium businesses should outsource. So what are you waiting for?

 


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Outsourcing Can Do Much More Than Save You Money

 

Outsourcing can do much more than save you money.

How? Before we answer that question, let’s take a closer look at outsourcing first. Outsourcing started as a way to save businesses money. But nowadays even though companies turn to outsourcing mainly as a cost-cutting measure, it’s really way more than that. Outsourcing can help you tap into a global workforce, thus deepening your pool of workers; it can help you minimize risk by giving your company more flexibility; it can help you focus more on what’s important for the business and leave the (relatively) non-pressing (but still important) tasks in the capable hands of other professionals; it can boost employee morale (really!); and last but not the least, it can help your company grow. Let’s take a more in-depth look at each of the points discussed above.

It Can Help You Tap into a Global Workforce.

Deepening your pool of workers is always a good thing, especially in the long run. And what’s a better way of adding to your company’s talent pool than tapping into a global workforce of experienced and skilled professionals? Let’s be realistic here—yes, a company should be proud of hiring local, home-grown talent, but in this age of globalization, how can you compete with other businesses that have the forward-thinking mindset—not to mention, audacity—of hiring world-class professionals all over the world? And besides, for specialized positions requiring even more specialized skill sets, your business would be hard put to find experienced and capable professionals who can get the job done; so why subject your HR and recruitment department to all that stress when outsourcing can readily solve your problem?

It Can Help You Minimize Risk and Give your Company Increased Flexibility.

Reducing risk here means exerting control over your company. After all, having control means you can determine the fate and the future of your business instead of being helpless at the hands of external factors. But being in control here doesn’t mean being hands-on with everything from helping pick out the tiles in the washroom to choosing the brand of coffee served in the pantry. Rather, it means being there when you need to make important decisions; like which client to prioritize, for instance, or which departments need more focus. Flexibility here means you being able to call the shots, anytime, on pressing concerns thanks to an outsourced team of employees that will allow you to focus more on growing the company.

It Can Help You Focus on the More Important Aspects of the Business.

It goes without saying that every department in your company contributes to the overall success of the business. But honestly speaking, not all of the departments contribute to growing the company; that is your job as CEO or owner of the organization and the job of a small inner circle of people you trust that you hired to focus on the core business itself. Outsourcing, needless to say, frees you up as well as the top management in your company to focus on more important aspects of the business.

It Can Help Boost Employee Morale.

A common belief is that outsourcing can lower employee morale because in-house hires might feel insecure or might believe that their jobs are not safe and can be easily outsourced. The flipside to this is that outsourcing can actually help boost employee morale especially if the positions outsourced frees up your in-house employees to focus on what they are hired to do; this means they are not forced to do any extraneous tasks that are outside their core competencies. The result? A boost in employee morale, of course.

It Can Help Your Company Grow.

This is the most obvious advantage when you think about what outsourcing can do for you aside from saving you money. Step back, take a deep breath, and consider the benefits that we just outlined above: tapping into a global workforce, minimizing risk and giving your company increased flexibility, helping you focus on the more important aspects of your business, and helping you boost employee morale. All of these, when taken together, results in helping you grow your company. In this day and age, the formula—or ingredients, if you will—for a successful organization now includes a stable pool of global workers, a confident group of in-house employees, and a focused team of senior executives that can zoom in on the core business. The bottom line is, outsourcing should not be viewed anymore as a maintenance strategy for corporations but a growth strategy instead, especially for smaller businesses, start-ups, and medium-sized companies. Are you still wondering how outsourcing can do much more than help you save money?

 


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