Is Outsourcing The Right Option For Your Business?

For business owners, especially of new companies, time is the most valuable asset. When you are working from dawn until dusk, attempting to keep on top of things, it can seem impossible. From growing your customer base to perfecting your social media, finding time for everything can be hard.

Rushing from one task to another can often mean that you aren't able to put in as much effort as you should. This means that it will take you longer to build up your business, as you don’t have enough time to focus properly.

Many business owners swear that their success is due to outsourcing tasks. You see, to grow a successful business, having enough time to complete things is crucial. You may not be keen on the idea of outsourcing, especially if you only have a small budget. However, if you want to be successful, it’s worth considering. Believe it or not, many outsourcing companies are much more affordable than you would think, so try not to stress about the cost.

There are plenty of options when it comes to outsourcing, so it’s up to you what you choose to do. To help you decide whether outsourcing is right for you, we have created a guide to everything that you need to know:

Is now the right time to outsource?

The first thing to ask yourself is whether you are in the right place to outsource. While, regardless of how new or old your company is, outsourcing has many benefits. It's also important to take the cost of it into account, among other factors. Sending tasks off to other firms to complete can have many benefits, but only if it's the right time for your business.

A crucial factor to take into account is your current workforce. If you already have a good team in place, you may not need to outsource. However, even if you have in-house staff, you may still need to outsource some items.

For example, if you have a couple of new projects to deal with, but don’t have the staff to focus on them, outsourcing is a great option. While you could hire a new team member, there’s the time, cost and effort this would take to account for. Whereas by outsourcing the task, all you have to do is find the perfect company.

Are you able to let go of all control?

Many business owners struggle when it comes to letting go and trusting someone else to complete projects. Don’t make the mistake of thinking that you are the only one who can complete the work well, as that’s not the case. If you choose a reputable company, they should be just as qualified to complete projects as you are. In some cases, you will even find that these companies do a better job than you do.

Ask yourself, do you want your business to grow? If the answer is yes, then you need to start delegating, instead of trying to do everything yourself. Of course, when it comes to choosing a company to send your work out to, choosing the right one is crucial. While technology and social media make finding suitable companies easier, it’s important to vet each one. You will feel much happier about outsourcing if you do lots of research beforehand.

What should you outsource?

The chances are that without realizing it, you’re already outsourcing a few tasks. For example, most companies outsource pre-employment checks, including criminal record checks. Today, you can outsource just about anything. From payroll and administration to marketing and human resources, almost anything can be outsourced. However, just because almost any task can be sent to another company, that doesn’t mean that it should be.

What you choose to outsource is up to you - it will depend on what your company’s needs are. If, for example, you are a new business, then the chances are that you may need to outsource a few different tasks, as you won’t have many staff.

Don’t make the mistake of outsourcing the jobs that you don’t want to do. It’s important that the most crucial things are always completed by you or your in-house team. Before choosing tasks to send off to other companies, look and your strengths and weaknesses and use them to make a decision.

For instance, if you are a small business taking on your first few employees, the chances are that you don’t have on-site employment law advice. Instead of hiring professionals to work on-site, your best option is to outsource this.

Are you willing to work closely with another company?

If you decide to hire another company to complete a task for you, such as your website design, it’s important to work closely with them. You might be handing over the reins, but it’s important to realize that you will still need to work with them.

Does the idea of working closely with another company not appeal to you? If so, outsourcing might not be the right option for you, as you will need to communicate constantly and share ideas.

Do the benefits make it worthwhile?

Although outsourcing can have some negatives, the benefits tend to outweigh them. However, before you start outsourcing, it’s important to work out whether, in your case, the benefits are worthwhile.

A major benefit of outsourcing is the fact that you can build up a team of skilled professional to call upon, without having to employ them. Plus, by outsourcing tasks, you can ensure that all the important things are taken care of, without having to deal with them yourself. This should give you the time that you need to grow your business and expand your customer base.

Outsourcing is proven to be a great way to boost success in the business industry. However, it’s important to realize that it may not be the right option for every company. Before you decide to outsource, make sure to take the factors above, into account. If you do decide to send projects off to another company, always ensure that you opt for a reputable one.