How You Can Use Outsourcing to Grow Your Business

While there is a common misconception that outsourcing is only for large businesses that have massive streams of revenue and workflow required to make outsourcing worthwhile, it should not be discounted that small business can also benefit from outsourcing non-revenue-generating tasks. When these types of tasks are outsourced to other companies or countries, small businesses can avoid having to recruit more in-house staff, save money by outsourcing for less money than what it takes to get them done in-house, and they can improve the overall performance of their team. With less non-revenue-generating tasks to focus on, small businesses can turn their attention towards amplifying profit margins.

How to Choose Which Tasks to Farm Out?

In order to determine which tasks can be outsourced, you must know what your business’ strengths and values are and identify your core competencies and capabilities as a company. If you are a small business that focuses on product design, you should not outsource design activities, or any work done by your internal design talent. Generally, the type of tasks that you want to outsource will fall into three general categories, specialized knowledge, highly repetitive tasks, and areas that require executive expertise (top talent).

4 Areas of Your Business You Can Outsource

• Customer Care. Almost all companies need customer support in some way or another but would find that renting out an entire office building for customer support employees a drain on resources. If you outsource call-based customer support to a company that already has this infrastructure in place with the right management process, hiring process, and training capabilities, then you can save money. However, make sure that you have a flexible contract if you go this route.
• Highly Skilled Talent. If your business requires certified and degreed individuals, using offshore talent is going to net you the expertise that you need at a much lower cost. Someone who is hired from another country is more than likely going to cost less than hiring someone in-house and ensuring that they are properly trained and retained. Plus, you can access a larger pool of industry experts!
• Payroll & Taxes. Unless you are an accountant, when taxes and payroll duties come around, you are probably not very thrilled at needing to sit down and wade through all the paperwork. Payroll is one of the most commonly outsourced tasks as you can save a small bundle in getting another company to handle it who only handle payroll. Not only will they do it right, but they will have the facilities setup to get it done efficiently. The same goes for taxes, although you may not save as much here, you can avoid the nasty yearly headache of slogging through deduction decisions.
• Administrative Duties. Things like answering emails, making phone calls, and setting up appointments take up a lot of time. By using a virtual assistant to handle these tasks, you can focus more on the tasks that generate profit and growth and less on the tasks that suck up all your time.

In order to make outsourcing effective, you must have clear goals that will be specific about your intentions. If you are trying to cut overhead or trying to free up resources for a specific project, then outsource the workloads related to those areas. Other than this, define what your idea of success is and decide on which metrics and benchmarks are key performance indicators of your success goal; as these will be used to see the benefit that outsourcing is providing you. For instance, if you are outsourcing creative design work, the turnaround time and the invoice amounts will be critical in determining if you are on the right track towards success.

Outsourcing can prove beneficial to any kind of business. Most of the time Outsourcing partners tell us that finding a right provider is the most important job in IT Outsourcing Services and to that we say, your search ends here. If you want to grow Your Business, feel free to contact us now.