The truth is, outsourcing solutions come in a highly affordable manner, which is why both small and big businesses are scrambling for it. In the past, it wasn’t so, only big companies and very wealthy individuals are able to leverage outsourcing to accomplish business landmarks favorably. But, things are different today. Learn how you can afford to outsource as a small business.
Analyze the Core Mission of Your Business
Go back to your business plan to identify your core mission. In the light of that mission, analyze whether or not your present staff members are working towards that mission. Subsequently, you should sit back to identify the none-core business functions that may be inhibiting the accomplishment of your company’s core mission so that you can plan to outsource them.
The other tasks you should plan to outsource in the light of your core business mission are those that aid business growth and competitive advantage (e.g. IT) but you can’t yet afford them in-house. When you interview a couple of outsourcing providers, you are able to identify the best in terms of both skill-set and cost quotation, thereby achieving outsourcing affordability in the long run.
Come Up with an Outsourcing Budget
Small businesses are quick to conclude there’s no money for any extra project. The truth is, when you consider the huge benefits that accrue to your small business through outsourcing, you will see how important it is to consciously plan for outsourcing.
Start by identifying the tasks that need to be outsourced and create a budget for this purpose. You will be surprised that your outsourcing budget may be even bigger than the actual cost you will ultimately incur on your outsourced business tasks.
Outsource One Project at a Time
Another great way to afford outsourcing solutions is to outsource one after the other. If you need to outsource five or even two business functions, don’t do it all at a time. As a small business, outsourcing multiple business tasks at a time will be cost-intensive, especially at the startup stage.
Once the first project is at its perfect finishing line, you can look at your financial stand again before outsourcing the next task. This way, you won’t feel the financial pressure much. While outsourcing can be increasingly cost saving, it’s definitely going to put pressure on your business purse if you outsource multiple projects at once.
Interview Multiple Outsourcing Services
Do not just settle for the first outsourcing provider that comes your way. You should interview as many potential best service providers as possible before hiring. You should not just be concerned about the cost, you should consider both cost and value when you interview outsourcing solutions providers.
Finally, one of the best ways to afford outsourcing solutions is to opt for offshore outsourcing.
Daven Michaels is a New York Times Best Selling Author and CEO of the premier global outsourcing company, 123Employee. The company employs hundreds of young bright individuals on three continents. His International event, Beyond Marketing Live! Inspires entrepreneurs to build & grow their business with revolutionary new theories and systems allowing them to design the business and personal lifestyle of their dreams.
2 thoughts on “How to Afford Outsourcing Solutions as a Small Business”
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