Outsourcing Basics For Startups
We’ve spoken a lot about outsourcing work before on this blog. We’ve told you about the key tasks you should think about letting go, for example.
And, why outsourcing can be so beneficial for small businesses. But, how do we go about finding third parties, and making sure they can do a job for us?
If you are a startup, then outsourcing is going to be something you do a lot. And, if you don’t have the experience, you can get your fingers burnt more often or not.
So, we thought we would give you a quick overview on how to outsource well, and get the results that you need. Let’s get started right away.
What do you outsource?
First of all, it’s important to understand what tasks you should outsource. The work you will pass on will be of a broad variety- from tasks you don’t like doing, to jobs you can’t do. It;s a good idea to write everything out and devise a list.
Start with those tasks you don’t like doing, and that eat up a lot of your time. For example, it could be filing your accounts, or writing out social media posts. Next, make a list of what you can’t do – something that your skills aren’t sharp enough in to get results, for example.
Finally, identify any other processes that occur in your business that waste your time, and take you away from what you are good at. You might see a common theme occurring here – anything that takes up your time is a good fit for outsourcing. We’re going to take a look at that now.
Time and money
Whatever line of business you are in, you should see time as equal to money. Let’s say that when you are drumming up sales for your company, you are worth £250 an hour. Let’s also say that you have a lot of paperwork to complete every time you make a sale, which takes around an hour to finish.
In effect, you are earning your company £250 one hour, but costing it £250 the next. So, why not use both hours for making the sales, while passing the admin tasks onto a virtual assistant for, say, £15 per hour.
The result? Instead of earning £250 in two hours, you are making £470. Big difference, right? So, it makes sense for you to identify all tasks that stop you making money, and pay someone else so that you can earn more.
Look for multiple benefits
There are also multiple benefits of outsourcing, and it’s something that can make it even more worthwhile.
Take your accounts, for example. Not only are you passing on tedious tasks that are using up your valuable time, but your accountant will also be looking for ways to save you money. Take a look over at the Accounting People website for more information on the various ways you can save.
It’s a similar scenario when you hire a top quality SEO service. Not only will they help you get more traffic, but they will also help you convert that traffic into customers. Yes, you will pay a little more. But, choose the right company, and you will comfortably make more than you spend.
Well, we hope that has helped you see some of the things you need to look at before you outsource.
Let us know your thoughts!