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Outsourcing: Should Your Small Business Be Doing It?

Outsourcing is popular among small businesses looking to reduce workloads and boost productivity. Letting someone else take care of the tasks overwhelming you and your team can provide many benefits, but there are also risks involved in the process.

Is it time for your company to embrace outsourcing as a way to handle some of the time-consuming work you do each day?

The Budget Benefit

Small businesses often don’t have the money to set up multiple departments or train numerous employees for specific types of work. Outsourcing costs less because you instantly acquire a team of experts needing no additional training. They’re not part of your regular payroll, and you don’t have to purchase new office furniture or supplies to accommodate them.

Being More Efficient

Time is a precious commodity for small business owners. You only have so many hours in a day to get things done and a limited number of employees to whom tasks may be delegated. When you outsource some of the work, everyone has more time to focus on their jobs instead of being interrupted by menial tasks throughout the day. Staying focused makes you more efficient and can prove to be quite profitable over time.

Smarter Marketing

Between content creation, SEO, social media, designing PPC campaigns and tracking analytics, marketing can be a full-time job by itself. The task becomes more difficult if you and your team lack the skills to create attention-grabbing campaigns. Putting someone else in charge of navigating the marketing maze brings top talent to your company and opens doors to new sales opportunities.

Making Sure They Meet Your Standards

Jennifer Gretson of Groom and Style has worked with clothing companies that outsourced some of their functions. Gretson points out that many people outsource to the cheapest providers, which can be a serious mistake. Some firms may not offer the quality solutions you need.

“Some are better than others, but if you do end up doing so well that you’re actually designing all of your own clothes and outsourcing the work from elsewhere, make sure that you’re outsourcing from the right place. This can make or break your business.”

Crunching Numbers

How many hours per week do you spend on accounting tasks? If you’re like many small business owners, you’re either swamped with balancing the books, processing payroll and handling invoices, or you scramble like crazy at the end of the day to find enough time for even the simplest bookkeeping.

Relieve the stress of this crazy cycle by employing accounts payable services and an experienced accountant. These professionals can easily help you stay on top of even the most complicated business math.

Weighing Pros and Cons

Although outsourcing can be a boon to small business owners, it’s not without its downsides. Partnering with third parties can mean sharing sensitive information. This opens your data up to compromise if proper security measures aren’t followed. The processes you outsource are out of your hands, meaning your reputation for reliability and consistency is no longer under your complete control. Should a partner fail to deliver or go out of business, you could be left scrambling to pick up the pieces.

To successfully leverage outsourcing for your business, choose which tasks to entrust to third parties and which are best handled by in-house staff. Create a balance between the two for maximum benefits, and investigate all potential partners to ensure you only work with reputable companies. With the freedom smart outsourcing brings, you can invest the time necessary to make your business thrive.