Doing your best work requires outsourcing. Entrepreneurs are ultimately can-do people — do-it-yourselfers. But this perspective can backfire sometimes. If you’re so do-it-yourself that you get slowed down in tasks that aren’t part of your expertise, or if you spend too much time on tasks that don’t directly generate income, you might be doing your business more harm than good.
What is Outsourcing?
Also known as Business Process Outsourcing (BPO) outsourcing is the process of hiring another individual or company, either domestically or internationally, to handle business activities for you. It has become a common practice among companies that allow small and medium-sized businesses to gain services and skills they would usually find hard to develop, because of either financial or manpower restrictions, or possibly a combination of both. This means you can grow your business as and when you need to, without any major investment.
Outsourcing also allows your business to focus on core competencies and, more importantly, cut costs and improve efficiency, all very much hassle-free. Business owners have realized that, over time, there are many reasons that companies, both big and small, outsource various jobs, but the most prominent advantage seems to be the fact that it saves money.
Deciding What to Outsource
Having someone else that is responsible for tasks that are beyond your expertise—and this includes tasks that you could muddle through but would take a lot of precious time—is a no-brainer.
It All Begins with Lower Costs
The majority of the individuals or companies that provide outsourcing services are able to do the work for considerably less money, as they don’t have to provide benefits to their workers, and have fewer overhead expenses to worry about, especially if they are based in a non-Western country, such as India or China.
Outsourcing also allows businesses to focus on other business issues while having the details taken care of by outside experts. A prime example of this would be knowing that telemarketing is the ideal way to get the word out in regards to a new product or service you are launching (either locally, nationally or internationally), but admitting that it’s not really your forte. This is when you can hire an outsourcing company that provides these services, whilst you concentrate on getting prepared for an influx of inquiries as a result of the campaign.
This also means that a significant amount of resources and attention that might fall on the shoulders of management professionals can be used for more important, broader issues within the company. Often times, the specialized company that handles the outsourced work is streamlined and will normally have world-class capabilities and access to new technology that a growing company simply couldn’t afford to invest in on their own. Additionally, if a company is looking to expand, outsourcing is a cost-effective way to start building foundations in other countries as well.
Some of the tasks could include, but are not limited to roles such as accounting, bookkeeping, sales and marketing, design and manufacturing, development, promotions, administrative and back office assistance, customer service, web development and much more.
Different Outsourcing Categories
Today, most freelancers or outsourcing providers will fall into one of the following categories, in regards to the services that they provide their clients. Some will even offer several of these:
- Inbound Customer Service
- Outbound Telemarketing
- Web Design & Development
- Back Office / Admin Support
- Virtual Assistant Services
- Accounting and HR Management
- Marketing & Sales Support
Outsourcing will ultimately give away some of your business tasks that can be easily managed by an independent entity, making life easier for business owners. And, along with being able to pass on these tasks to someone more experienced than yourself (or your company), you will be able save money most of time.
Just Start Now!
Regardless of what area your business you might be thinking about outsourcing, the bottom lime here is that taking part in this extremely worthwhile activity will give you the opportunity to expand your business at the same time as saving costs. Contact us here at Centennial Arts with the link below for more information!