The simple answer to this question is; the major reason to outsource is to make more money by cutting huge cost, and it is difficult to increase profits without taking advantage of outsourcing solution. But, that’s not all, you need to keep reading to get the details.
Truth be told, outsourcing makes more sense if there’s financial sense in it. And, it’s good to know that this business solution makes so much financial sense. It’s also important to add that outsourcing will help you drive sales and ultimately boost revenue.
Having said all of that, you need to examine the areas you can enhance productivity and revenue generation ultimately using outsourcing solution. A recent study shows that one of the major challenges banging at the door of small business owners is employee management and more revenue generation.
As they hire new employees in-house, it comes with additional financial burdens such as employee health care, all of which eat deep into the profit of a small business owner.
Goals You Should Focus on with Outsourcing Solution
So, as you leverage outsourcing as a business owner, your target should be to attain three major goals;
- Growing revenue/profit
- Boosting cash flow
- Cutting down overhead and other costs that come with in-house staffing
Determining What to Outsource
- Start by Listing out Regular Tasks
List out regular tasks in your business and take a long look at the ones that have been eating deep into your valuable time. Luckily, you can find great apps that can help you see how you’re spending your time on your business tasks.
- Identify Tasks that are not Within Your Skill Range
Another great way to figure out what to outsource is to identify tasks that you or your present workforce don’t really have the skill for. It could also be tasks that you’re performing badly on.
Subsequently, you can outsource such tasks to a provider who is skillful at it. Then, you can be sure of quality outcome from such tasks, plus you will reap economy of scale benefit when you outsource such tasks.
You will now have quality time to invest in your core competencies, which are really the excelling point of any business or company. In fact, investing quality time to core competencies has been linked to huge operation costs reduction.
Now that you know why to leverage outsourcing solution, don’t delay to implement it.
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 to build & grow their business with revolutionary new theories and systems allowing them to design the business and personal lifestyle of their dreams