You’ve probably heard all manner of things about outsourcing – both good and bad. And, you’re wondering if it is indeed a business strategy you should try out. Well, there’s always the good and bad side of virtually everything in life, or can you point to one thing that does not have disadvantages in addition to its advantages? The truth is, the benefits of outsourcing solutions far outweigh whatever disadvantages you may have read or heard about. So, you should give outsourcing a chance.
So, Why Should You Give Outsourcing a Chance?
The slogan “Never Say Never” has played out now and again with companies and businesses that I know when it comes to using outsourcing solutions. I’ve heard business owners and even big companies saying they are better off hiring employees in-house. But, they end up using outsourcing services providers.
You are probably wondering why?
• It Could be the Sole and Best Remedy When you’re Running out of Budget
You don’t have to wander far. The reason is simple and glaring; those companies and businesses that felt they are buoyant enough to always hire full-time experts eventually figured out that outsourcing can be the sole and best remedy when they are running out of budget but still needs to hire professionals for specific tasks.
• Your Competitors are Leveraging Outsourcing Solutions to Outdo You
You’re probably wondering why your competitors can afford to sell their products at a difference that may ruin your own profit if you attempt to offer the same price. Yet, they are growing and expanding when you expected they will soon phase out of business the way they are discounting price.
No, they won’t phase out of business. They are saving more on the high cost of hiring full-time employees by leveraging outsourcing. Subsequently, the huge savings enable them to plow back a substantial part of their profit into growing their business. Even when they offer a lower price to customers, it doesn’t affect such companies in any way. Instead, they attract more customers as a result and achieve a high rate of turnover.
• It’s a Great Way to Reduce Expenses on Business Equipments
For instance, if a production company outsources the assembling of parts to another company, it will bypass the heavy expenses that come with purchasing machines and other types of equipment for parts assembling. This is because the company that the task is outsourced to will accomplish the task using their own pieces of equipment and tools.
However, you should do a proper cost and benefit analysis to be sure you are on the winning side. Numerous other reasons you should give outsourcing solutions a chance include cheaper access to expertise, faster delivery of products to the market, and reduced overhead cost.
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