Scale Your Business By Outsourcing These Business Processes
As your business grows, you’ll start tackling problems that are further away from your primary skills, which may require you to spend time learning skills. While learning skills is always a plus, it consumes time that you can spend on more important business functions. But these new skills apply to limited yet vital functions, such as tax preparation and bookkeeping.
This is where outsourcing becomes a wise business move.
In 2018, more than a third of small businesses outsourced some of their operations. And even more plan on exploring this option in the years to come. You can join the growing number by outsourcing tasks to vendors who manage the work efficiently — eliminating all the stress you would have experienced if you tackled it.
Whether you choose to outsource your web copy writing work or the accounting aspect of your business, outsourcing helps you manage important business tasks outside of your skill set.
So, what are the functions you can outsource?
In-house attorneys are pricey. Even “newbie” attorneys require hefty salaries to pay for their law license and education. Typically, the minimum cost of hiring an in-house lawyer costs about $64,000 per year.
Most businesses, particularly start-ups and small businesses, cannot afford these salaries. If hiring an in-house legal team is out of your business’ budget, it’s best to outsource. Fortunately, there are many ways to outsource legal services. You can:
- Retain an attorney for all of your legal needs.
- Buy legal documents from trusted vendors.
- Purchase legal services a la carte via online market places.
It can take entrepreneurs years to perfect the art of driving leads and sales. But it can take just a few seconds to lose customers due to poor customer service. Instead of losing customer loyalty, hire a skilled virtual assistant. Use LinkedIn to look for recommendations through your network or use the groups feature to find people who align with your needs.
Outsourced customer service professionals can also help you focus on the channels your customers frequent. For instance, using LiveChat support can help customers find your contact information ASAP. It can also close a sale by answering a customer’s question about your services or products.
Most businesses spend a large portion of their day performing repetitive administrative tasks that are relatively easy to outsource to someone else. It’s better to outsource tedious admin tasks to companies who charge less for their time than you charge for yours.
Outsourcing your core business functions is not an option but you can outsource pieces of your core functions. All you have to do is build systems and processes for the company supporting you. For instance, if you’re a web developer, you need certain assets and information from your client before you start website coding. You’ll need their logo, web page content and preferred colors so you don’t have to spend time looking for them.
In this case, web development is your primary function. You can hire a virtual assistant to inventory and collect these items. They can put everything where you like it so you can improve your operations. Instead of hiring a part-time administrative assistant, outsource your virtual assistant to save money and time.
Here are some administrative tasks you can outsource:
- Customer service emails
- Social media management and posting
- Research and data collection
- Document organization and management
- Calendar organization and management
- Compiling reports
- Proofreading and editing
Financial Management and Bookkeeping
Failure to manage your finances and taxes result in costly interests and fees, as well as a miserable tax season. Instead of suffering from these financial blunders, outsource your bookkeeping tasks. You can send your outsourced team the data they need to organize your accounts.
Outsourcing is a lifesaver for businesses who wish to spend time on other more important business functions. If you want to outsource one or several tasks to save more money, start with your biggest challenges.