New to BFS? Please click here to get started. See you in the comments soon!

Not Enough Time in the Day? 4 Signs It’s Time for Your Company to Outsource

This post may contain affiliate links.

Today’s global market presents a lot of pressure to succeed and be the most effective organization possible. This is to be achieved through lowering operational expenses while maintaining high quality service and learning to keep the balance. As a business owner, it’s your job to oversee all of these processes and see that they are completed on time for your clients. If your business is successful, there will eventually come a point where there will be more work than time to complete it.

While this is normal for any business, if you can’t seem to get ahead of these busy periods, you may want to consider outsourcing some of the work. Outsourcing can be a couple of different things depending on what it is that your business does.

Let’s take a closer look at some signs that you need to start outsourcing tasks at your place of business.

A Certain Task is Highly Specialized

Consider for a moment what it is that your organization actually does—whether it’s tech, retail, construction, or some other kind of business. No matter what field you’re in, there’s a high chance that you’re eventually going to have to call for a specialist at some point. For example, a startup may be full of knowledgeable salespeople, but doesn’t have anyone on their staff that can manage their books, so they outsource their accounting.

Nobody Wants to Do the Task

In all the world, there are probably only a handful of people who enjoy every aspect of their job. However, that doesn’t mean you should outsource the stuff you don’t want to do, just because you don’t want to do it. You should weigh the strengths and weaknesses of your staff and their ability to perform the task successfully. You aren’t going to want to outsource something that is central to your business model; it’s especially important for smaller companies to focus on their core competencies while they are growing.

For example, a fledgling tech company that is filled with programmers will likely feel more comfortable in front of a computer screen coding than they would trying to manage a marketing campaign.

Hiring a New Employee Wouldn’t Be Cost-Effective

One of the main things keeping small businesses from hiring the appropriate personnel full-time is the cost. Many outsourcing companies will give you a lump-sum bill (the total cost of labor, completion of the task, and any other fees) which may seem intimidating at first. However, when you compare it to the cost of employing an in-house person over the course of a year—salary, health insurance, vision, dental, payroll taxes, etc.—it begins to make sense.

Not many business strategies can be as cost-effective as outsourcing, save for maybe comparing professional liability insurance quotes and buying one, but that also depends on your industry and the services you offer.

The Task is Only Temporary

Many retail businesses don’t have a need to hire an IT person because they only need someone to routinely check on their servers and carryout data backups once or twice a month. It wouldn’t make sense to hire someone to do that job full-time as there isn’t a need and it would be a waste of company resources. Contractors and consulting companies will only charge you for the services provided, which will give you the most for the money you spend. This also applies to any single-serve projects, like designing a website, inventory, or yearly taxes.

Outsourcing isn’t a one-size-fits-all solution to business, but it just might be the solution your company needs to fill in gaps and stay afloat.

FYI:  I worked at a dead end cubicle job from 2005-2011 for about $30,000 per year.  I went self-employed in July 2011 and make between $70,000-$90,000 through blogging, professional pet sitting, hubby's reffing, and our rental home.  If you’d like to start your own site (link to my free step-by-step guide), I highly suggest checking out Bluehost (my referral link with a nice discount for you, PLUS a free custom header banner from me!).  Please contact me any time at budgetingfunstuff*at*gmail*dot*com with questions or just to brainstorm! I’d love to help!
Be Sociable, Share!
Memorial Day
5 ways for millennials to improve their finances quickly