Outsourcing is when your business hires another company (or individual) to handle some of your business activities. This allows small and medium sized businesses to have access to skills or services that they might not be able to develop in-house. For example, a small business with two or three employees may not need a full-time HR representative. That doesn’t mean the business doesn’t have HR needs. Outsourcing can fill the gap.
Grow Your Business Without a Major Investment
Outsourcing allows your business to be more efficient in less time. Sure, you could train an employee to handle your IT needs, but if you outsource the IT department, you get expert advice about your system immediately. Hiring a fulltime IT person might be way outside your budget. Your key employees can focus on their jobs, while you have the IT system that fits your needs today and can grow with you.
Outsourcing Saves Money
When you outsource, it can save you money. You aren’t paying benefits on workers who are employed by the outsourcing company. You don’t have as many overhead expenses. More employees mean more office space. Need a marketing person to help you with one campaign? Outsource your marketing department while you focus on your sales funnel to handle the leads.
Outsourcing Frees Up Your Company’s Resources
Management professionals can’t specialize in every aspect of the company. Using outsourced professionals lets your managers focus their attention and resources on broader issues. Outsourcing companies generally have more capabilities and access to new technology that is specialized for their work. A growing company just won’t have those resources.
What Tasks Can Be Outsourced?
Today, just about any business task can be outsourced. The most common include, accounting and bookkeeping, marketing, manufacturing, customer service, IT, web development and back office assistance. Instead of trying to do-it-all-yourself, consider how outsourcing could fit into your business plan.
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