Estimated reading time: 4 minutes
When business owners are first getting their business off the ground it’s common for them to feel extremely overwhelmed. New business owners often feel like they have to take on every single task themselves and don’t always ask for help. However, all business owners (both new and seasoned) have help available to them when they outsource some of their work.
Outsourcing is the practice of using outside people or companies to handle work normally performed by an employee in the company. Outsourcing allows entrepreneurs to focus on growing the business and lets tasks like payroll processing, accounting and administrative duties be given to someone else.
Here are 5 main reasons that outsourcing is a smart move for small businesses..
1. Saves time
The saying “time is money and money is time” is true. Business owners who are great at their business but weak at other tasks can save themselves a lot of time by outsourcing their work.
For example, if you are not great at graphic design, outsourcing logos and other graphic work to a freelance graphic designer will free up your time for projects that you are more skilled to handle (your logo will also look better). This will save you a lot of time and allow you to work on more important tasks in your business..
2. Reduce operating costs
Reducing your overhead may not be the only reason to outsource, but it’s certainly a major factor. Business owners can save a ton of money by hiring freelancers on an as-needed basis for an agreed upon rate. And because they’re contractors and not full-time employees, there’s no health insurance, dental, sick leave or paid time off. When the contractor completes his or her project, you don’t have to continue paying them. This will save you thousands of dollars a year.
Outsourcing can also make your business more attractive to investors, since you’re able to pump more capital directly into revenue-producing activities..
3. Improve company focus
Business owners can get caught up in the day-to-day activities it takes to run the business such as accounting and bookkeeping. But, by outsourcing non-core functions, a small business owner can focus on what they know best and grow the company.
Outsourcing can help your business to shift its focus from peripheral activities toward work that serves the companies goals. This means more time to dissect what marketing messages are working and which are not and adjust accordingly. It also gives you time to address customer complaints, improving your image and gaining more customers as a result.
This could also look like freeing yourself up to make much needed tech or office upgrades, to stay competitive and present a polished, professional image to the public..
4. Access to freelancers with various skill levels
Business owners looking to outsource have endless options when choosing a candidate to take on the work and aren’t limited by zip code or time zone because it’s all done virtually. So, hire the web designer from Russia or the marketing guru living 3,000 miles away.
How do you find these freelancers? Thankfully, various freelancing websites make it very easy for business owners to find eligible candidates with entry level to senior level skill sets.
The most popular freelancing sites include Fivver and Upwork. Both allow freelancers to bid on your job. You then have the freedom to view their profile and qualifications, and interview those most qualified. These sites also provide business owners with a secure way to pay for services and legal clout should issues arise.
As an added bonus, these sites also include things time trackers with screenshot capabilities to ensure your freelancer is actually doing their job, as well as different payment methods.
Access to hundreds of potential freelancers, business owners are able to keep projects on budget by picking a candidate with the right skills and compensation requirements.
5. Ability to start new projects quickly
With outsourcing, business owners will have the ability to start new projects quickly. Handling projects in-house could take weeks or months to hire the right people, train them, and provide the support they need. For some positions this may be preferred, but many can be outsourced so you can get started on that new project quickly.
With outsourcing, you’ll be able to find experts that can start on the project right away. This will save the business money and time and give it the ability to grow quickly.
The benefits of outsourcing are too good to pass up, which is why it’s the best option for a grow company. Take some of the weight off your shoulders, save money and open yourself up to talent from around the world. Unleash your business’s potential with outsourcing
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