Business owners tend to spend a lot of time in their businesses working on the day-to-day operations. Some can become so consumed with just running the business, they have no time to strategize and plan the future growth of their company. Entrepreneurs often don’t want to spend money on services when they can “do it themselves.” What most don’t realize is that every choice comes with an opportunity cost … what could you do with your time if you hired someone else to do the work for you? You may save money doing it yourself, but you do not make money doing it yourself.
A few areas to consider outsourcing are Accounting, Telecom Management, Website Management and Public Relations:
•Accounting, love it or hate it, is too important for your business to not have a professional team categorizing your business expenses, implementing your payroll, indicating taxes due at regulated intervals, and making sure the payables and receivables are taken care of. A good bookkeeper can handle the day-to-day accounting, a payroll company can handle payroll and proper withholdings, and a CPA is there for tax accounting; thus providing a great team that enables you to know your exact company performance at any given time.
•Telecom Management is extremely important with daily reports of cyber-terrorism and hacking scandals. Dealing with continual upgrades, maintenance and technical difficulties is frustrating and time-consuming. Technology is such an integral part of any business today, it is important to have technical support, remote monitoring, and troubleshooting to ensure your company will not be crippled because of poor data management.
•Having a website, but having no idea how to optimize it for search engines or what to post in relation to content that will boost your rankings, can mean a major waste of money if no one can find you. Most companies have a website, but ensuring they are useful, user friendly, easily laid out, and responsive is important to web browsers. As the saying goes, “You never get a second chance to make a first impression.” Building your own website may be cheap, but is your customer’s first impression of your company the one you want them to have?
•Public Relations firms help you get your message out in the competitive media landscape. Hiring a firm on a project or retainer basis means you get a concentrated PR effort when you need it. Outsourcing makes a great deal of sense when you want to integrate an entire online and offline strategy for marketing communications.
In the end, outsourcing depends on the goals and priorities you set for your company. Outsourcing some of your business needs may make the most financial sense in the long run if you turn your valuable time and attention toward growing and improving your business. When business owners stop and ask themselves, “Is this the best use of my time?” and the answer is no, think about outsourcing as an option.