No business owner should try to handle every daily business function alone. On the other hand, getting all the necessary work done by hiring permanent staff is expensive. Further, depending on the business stage or size, some functions may only need intermittent manpower. The answer: outsourcing. That is simply the concept of contracting with third-party providers to accomplish specific business functions.
Benefits of Outsourcing
Outsourcing offers these impressive benefits:
- It frees-up time for the business owner to focus on mission-essential activities.
- It enables a business to be more efficient by employing specialized resources, thus making the business more productive.
- It provides a way to access quality talent and resources otherwise unavailable in-house.
- It can control costs—you only pay for the time and services that you need.
- It offers a competitive advantage with knowledge and skills that may not be resident inside the organization.
What Functions Can You Consider Outsourcing?
- Administrative and routine repetitive tasks
- Research activities
- Accounting services including bookkeeping, payroll, taxes, and accounting
- Some writing and marketing needs
- IT management functions
- Customer support needs
How to Successfully Start Outsourcing Tasks
Here’s how to successfully start outsourcing tasks:
- Start by carefully determining your needs. What staff and what skills do you have available and what can be done more effectively and efficiently off-site?
- Determine how you want to work with other parties.
- Find the contract services that are fully qualified to deliver the work that you need. Seek them out through reputable sources. Make sure their approach and experience are a fit for you.
- Define the terms of service, including service schedule, prices, and means of payment, with a written contract. Define the terms of work ownership up-front.
Avoid These Outsourcing Mistakes
- Failing to provide guidance
- Failing to provide measurement
- Going all-in too quickly
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