In addition to substantial cost savings, outsourcing also takes a lot of workload off businesses. Reduction in overhead can help a small business increase the budget for business expansion and growth, plus it frees up time to attend to the things that guarantee the continuous existence of a business. This is why small business outsourcing is a smart move. But, the question is, what functions or processes should you outsource as a small business?
According to business experts, a small business should consider outsourcing the following;
1: Content Marketing
Content marketing is one of the best ways to promote any business. Through relevant and educative contents, you will reach out to your target audience and inform them about your new products, upcoming events, promotions, deals, and the solutions they are seeking in line with your business offer.
Of course, you will definitely not sound too ‘salesy’ or you will lose the attention of your target audience. Soft selling while educating your target audience is what works best. And, the best way to save cost, save time and gain access to professional writers is through outsourcing. A report published by LinkedIn has shown that nearly 80 percent of small business owners are outsourcing content.
Also, when it comes to small business outsourcing, you should consider outsourcing your payroll. The intensity of this task can take your attention away from the core activities that promote the continuous growth and existence of your business. As you probably know, payroll goes beyond salary payouts, it also involves regulations, tax matters and more.
You should be aware that a seemingly minor error with payroll can result in tax audits at the detriment of your business. For instance, in 2014, the Internal Revenue Service (IRS) issued a fine of over $2 billion fines and levies against small businesses, due to payroll related omissions, errors, and incorrect filings.
So, instead of hiring a professional in-house to manage your payroll, you should outsource the function and save huge cost.
Keeping accurate record of your business operation is critical and must not be done haphazardly. Just like payroll, bookkeeping needs to be handled conscientiously to avoid costly mistakes. So, you should outsource bookkeeping to an expert who specializes in this aspect. Avoid juggling between tasks as this can greatly reduce productivity and result in costly mistakes.
And of course, you will be better off outsourcing book-keeping in order to save overhead cost and pay far less remuneration compared to hiring the expert in-house.
Finally, when considering small business outsourcing, you should also outsource administrative tasks that tend to consume time and corner your attention away from the core aspects of the business and its continuous growth and existence.
Daven Michaels is a New York Times Best Selling Author and CEO of premiere global outsourcing company, 123Employee. The company employs hundreds of young bright individuals on three continents. His International event, Beyond Marketing Live! Inspires entrepreneurs build & grow their business with revolutionary new theories and systems allowing them to design the business and personal lifestyle of their dreams.