Do you ever wonder if you should outsource some of your small business functions and which tasks should you outsource?
Many reasons exist to outsource your small business functions. Recognizing an issue exists within the business can lead to outsourcing small functions. Issues such as time management, loss of staff, and the need to invest in other areas of business growth. By recognizing the issue, this awareness is the first step toward a solution.
Focus
There are never enough hours in the day to get everything done. One day everything can be moving forward successfully, then all of sudden, an unforeseen event can rear its ugly head derailing operations overnight. Sometimes small business owners may even miss high-priority tasks that generate revenue or create growth. Time can be limiting and unpredictable.
This issue is an optimal opportunity to outsource some business functions and refocus. Choosing to work with a professional can reclaim time to focus on the strategic management of the business and invest in more important areas of operations. Refocusing on what the small business owner enjoys doing or what the small business owner is good at can provide better results for the company. By outsourcing the right tasks, the small business owner is usually able to ensure the resulting outcomes are more impactful.
Cost Savings
Bottom line is the first and most critical factor when considering alternative solutions. Growing at a pace that requires additional support, owners may not have enough room in the budget to hire a full-time employee. Salary, benefits, payroll taxes, unemployment insurance, and other expenses to cover a full-time employee can be expensive for the small business owner facing the next level of business growth or even facing seasonal growth.
By bringing in new and necessary outsourced expertise, the small business owner can add tremendous value to their business. Outsourcing is a fraction of the cost of adding employees. Outsourcing adds an expert in the business' core functions that can ensure more impactful outcomes for the small business owner. Outsourcing core business functions can save on the cost office expense and physical resources, as well as insurance coverage or other benefits.
Competitive Advantage
By outsourcing, the outsourced professional can help the small business owner compete with bigger industry competitors by bringing full-scale abilities and expertise via a fractional time commitment. This commitment can help level the playing field by enable the small business to maintain industry-based objectivity, avoid problems. and seize opportunities. The outsourced professional can also help by maintaining a professional "distance" and objectivity to help small business owners make difficulty, but often necessary personnel and operational decisions related to budget cutting or even downsizing.
A few examples of outsourced business services to consider:
Accounting and Bookkeeping - can help with compliance standards, tax payments and implications, and numbers to crunch to keep the business running smoothly.
Administrative Work - can help with virtual assistance, scheduling of appointments, and social media upkeep.
Sales - can help with setting up and executing sales processes, lead generation, sales funnels, closing deals, sales calls.
Marketing - can help with a strategic marketing plan, concepts, branding, and design, along with execution and management.
IT and Systems Management - can help with integration, security, troubleshooting, ongoing maintenance or urgent issues.
Other Services - depending on your business, services and other function that are commonly and successfully outsourced are manufacturing, shipping, logistics, fulfillment, customer service, and human resources.
Know your strengths and weaknesses, challenges, and limitations. Be aware and okay with investing in an outsourced professional to tackle tasks much more efficiently and effectively than you could independently. In general, outsourcing allows you to get more done and trust essential tasks and processes to outsourced professionals without growing your fill-time team. This keeps costs under control, increases efficiently, and frees up resources for you and your team to focus on what you enjoy!
If you are a small business growing and cannot handle to workload, you need to scale your business during seasonal boosts, you lack the expertise, or you just do not have enough time, contact Tax C.A.T.S. We specialize in accounting, bookkeeping and tax services. Checkout our website today!
Marla Holly Conner
Enrolled Agent
Tax C.A.T.S.