Running and operating a business requires a ton of time and resources. As a business owner, you have the responsibility of ensuring that everything is done to your client’s schedule and specifications — and with impeccable customer service. But how about getting it all right when your business is expanding, or when you have more personnel to train, or when you still need to complete daily maintenance tasks? With every growing business, there comes a time to evaluate what can be done in-house and what can be outsourced in order to use time and resources more efficiently. There are signs that every business owner should look out for to determine whether to outsource, so let’s look at five major ones.
1. Your Employees Are Incapable Of Handling Specific Tasks
You may have a staff of hardworking, talented employees, but not everyone is a jack-of-all-trades. As your business grows, there may be tasks such as IT, web design, accounting, etc, that need to be handled by an expert. Even if the task has been handled in-house up to that point, the more you grow, the more work they will have. For example, getting hit with a Quickbooks error code 6000 and not being able to handle it for hours, even days might slow down productivity and jeopardize customer service. So unless they have the time, energy, and willingness to learn a new skill, then it might be a good idea to hire a professional.
2. Your Budget Is Getting Tighter
For many tasks and skills, outsourcing can be a lot less expensive than hiring an in-house employee. When you outsource, you don’t have to incur expenses such as sick leaves, work insurance, paid vacations, taxes, and pensions. Moreover, having an in-house employee requires additional costs such as office supplies and computers. So if your budget is getting tighter due to hiring expenses, then maybe it’s time to look outside hiring full-time employees and see what independent contractors have to offer.
3. Your Progress Is Slow Due To Routine Tasks
If your company’s progress and growth have been stagnant for some time now, then it may be due to overload. Your accounting department, for example, might be too busy handling everyday routine tasks such as bookkeeping that they can’t come up with building new processes, training programs, etc. The solution may lie in outsourcing certain tasks for certain departments. This will give you time to focus on strategy and growth that can propel the business forward.
4. Your Employees Aren’t Providing Stimulating Ideas
If you’ve been in the industry for a long time but your business doesn’t seem to be making much of a breakthrough, then your team may have run out of groundbreaking ideas. This isn’t uncommon, so instead of firing your entire staff, try incorporating a breath of fresh air. Outsourcing some marketing and branding problems to an agency could be exactly what your company needs to reach the next level. A fresh pair of eyes is always beneficial, and they may offer new directions that your company can follow in order to expand. Moreover, they will not be shackled with the prevailing organizational culture that could be the cause of some of the stagnation your business is experiencing.
5. Your Business Is Growing Too Fast
If your business is rapidly growing, then it’s about time you considered outsourcing some inhibit growth, as it actually slows down productivity and efficiency. The best option is to look at company services that are routine and unstrategic and outsource them. For example, if you can decide to outsource your accounting services, you can start by focusing on areas such as bookkeeping and taxation, leaving the strategic, internal issues of forecasting and budgeting to your staff.