How Outsourcing Can Help Small Businesses Keep Up

How Outsourcing Can Help Small Businesses Keep Up

Did you know that nearly 60% of companies are outsourcing tasks to cut costs? Many small companies are falling behind.

They don’t have the ability to afford in-house specialists to keep up. This is due to fast pace technology making business more competitive. Outsourcing is the main key you might be missing for your company to thrive.

Today, IT and other professionals are very expensive to hire. Leaving small businesses in the dust if they can’t afford them.

The benefits of outsourcing are countless. You can outsource mundane tasks so your in-house team can focus on essential assignments that require time and effort. Outsourcing offers both big and small companies significant money-saving opportunities and the ability to stay ahead of the game.

Three Types of Outsourcing

There are three main types of outsourcing. There are many types of jobs and ways to outsource. The key is to find what is best for your company and your needs.

Outsourcing Professionals

This is the most common type of outsourcing. Many small companies cannot afford to outsource expensive specialists. This includes specialists in accounting, administrative, and legal work.

In most cases, you don’t need an in-house full-time professional to do these jobs. You can outsource work to a company or professional when necessary.

Outsourcing IT Experts

Not only are in-house IT experts costly, but they aren’t necessary all the time. The majority of the work they do can be done from anywhere.

Why not hire remotely a professional that has the expertise in the latest technologies.

From app development, system administration, and software design to maintaining your website. You can find less expensive IT experts around the globe that are a fraction of the price of hiring locally.

Outsourcing Copywriters and Marketers

When it comes to marketing, many small businesses turn to their in-house employees. Creating text and design for pamphlets, websites, social media, and blogs.

There is a lot more that goes into creating a quality marketing campaign than just writing text.

Today, with proper content, a company can go far. Outsourcing professionals in the field can help boost their image and put them in the limelight

Outsourcing Benefits and Risks

Did you know that 47% of companies choose to outsource work to reduce capacity issues? Paying for office space costs a lot more than hiring a freelance professional.

Benefits of Outsourcing

1. More specialized talent. – As a small company, it’s not always possible to hire professional talent. They tend to be costly to hire in-house. With outsourcing, you have access to professionals around the globe at a lower cost, depending on your specific needs.

2. Save Money. – A company may spend $1,252 per new employee training alone. This doesn’t include additional costs of office space and expenses such as sick pay, pension, and others. Also, you have more access to professionals with more experience and knowledge that cost less on average.

3. More transfer of knowledge. – A strong team made of experienced experts can cover everything across the board to keep your company up to date.

4. Higher performance. – Most outsourced professionals work per-project basis. Focusing only on the task at hand without distractions that an in-house employee may have. As a result, they deliver work faster and of a much higher quality.

5. Reduce expenditures on new technology. – Technology is always changing. The moment a company finally has the funds to invest, new technology is on the rise. By hiring experts already using the latest technology, the company doesn’t have to train in-house employees to implement it.

6. Improve in-house productivity. – Allow your employees to focus on the crucial tasks. Keep your business moving forward by outsourcing mundane tasks such as data entry.

Drawbacks of Outsourcing

As with everything else, there are always drawbacks. If you pay close attention, do your research whom you outsource to, and always read the fine print, you should be fine.

1. Loss of control. – If you assign work to an outsourcing company or freelancer, be aware. Without controlling the results, you may find yourself worse off than before. Outsourcing requires a bit of organization and work on your side to maintain quality and move forward.

2. Hidden costs. – If you choose to outsource work to a company, be diligent about what you are signing up for. There is often a small print that may incur more costs than hiring in-house. Always review the contracts carefully. Make sure you are aware of what you are paying for and which added costs might come up.

3. Security risk. – If what you plan to outsource requires sharing personal customer or employee data, it could pose a risk. Always consider what type of work you plan on outsourcing and hire trusted companies and freelancers.

4. Time difference. – Many outsourcing companies and freelancers may be working in a different time zone. This might make it challenging to sync with your schedules. However, with good time management, there are always ways around it.

5. Language barriers. – Remember that many outsourcing companies and freelancers are not native English speakers. This could pose a problem with the language barrier. However, if you do your research well, you can find fantastic professionals with perfect English.

6. Moral dilemmas. – One of the moral dilemmas may be denying someone from your team an opportunity to grow by outsourcing work. The possibility of stumping the growth of your community by not working with a local talent agency. Another issue is that some consumers frown upon outsourcing.

Bottom Line

In essence, the benefits of outsourcing for small businesses outweigh the drawbacks. This is because you need to keep up with the big guys if you wish to grow as a company. The best way is by having experts on your team that many small businesses can only afford in-house.

A small business requires a dream team to advance and keep up. Outsource as much as possible by finding companies, or freelancers on sites like PeopleByTheHour and UpWork. Even small businesses could build a dream team,save money, and keep up with the latest changes in technology.

Which tasks you feel could be outsourced in your company?

 Question: Would you outsource to give your in-house team more time to focus on important tasks? Share your thoughts in the comments below.

Hristina Nikolovska is the appointed Community Manager at WhatToBecome. Using her extensive background in digital marketing, as well as her social media and public relations experience, Hristina’s passion is helping others stay organized through clear communication and pushing for the realization of projects of every sort.

Stress Coping Strategies for Business Owners

Yoon Answers Reader’s Question:

 “How do I cope with the stress of being a small business owner in this terrible economy?”

     –Harry Robbins, Austin, Texas

Answer: Harry, you can’t change the economy, but you can change the way you respond to the stress. Strategies and tactics are only one component of your success. The other 50% is greatly impacted by your mental frame of mind. Here are 3 quick tips on keeping a positive mental frame of mind in this negative economic slump.

1. Change how you think. What you think affects how you feel. How you feel affects how you behave. In today’s tough economic conditions you want to be careful your business decisions are not simply emotional reactions to the stress you are experiencing. Before you can give yourself new, stress reducing thoughts that energize you need to first be keenly aware of all your old, stress inducing thoughts that immobilize.

2. Change your results by changing your questions. Before brainstorming for all of the answers first try brainstorming for all of the questions. The right question can open the door for coming up with the right strategies for your business to navigate through the stress. Stress is often from not being able to see your way out. The right questions will help you see the light at the end of the tunnel.

3. Find trusted sounding boards. One effective way to clarify your thoughts is to speak them out loud to someone you trust and respect. But, most small business owners are isolated and often do not have a designated sounding board who will listen and help evaluate the quality of your thoughts. Target candidates you can ask to be on your advisory board. Seek out a mastermind group. Hire a business coach. Collaborate with others.

Many people are familiar with the popular law of attraction theory. But, in order to be a positive attraction you need tools to help you cope and manage those negative worries, stress and anxiety that naturally sweep in during difficult and challenging situations.

QUESTION: What are your best stress coping strategies as a business owner? Please share your thoughts in the comment box below.

About Yoon Cannon: Top business coach Yoon Cannon has helped thousands of small business owners, entrepreneurs, coaches, consultants and sales teams achieve dramatic results in growing your business. Over the past 20 years Yoon has started 4 successful companies and sold 3 of them. She offers fresh insights as a seasoned business growth expert. Yoon delivers proven process for your sales, marketing and management development.  Grab free valuable gifts and resources at http://www.ParamountBusinessCoach.com  To book Yoon to speak at your next event email: [email protected] To schedule a complimentary business coaching consultation call (215) 292-4947. 

 

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