3 Mission-Critical Tasks Your Small Business Should Outsource
by Arina Smith Small Business 26 January 2018
Growth takes time, effort, and resources, things that a small, understaffed business may have in limited supply. The plain truth is that no one can do everything, and while an entrepreneur and his or her core team may put in long hours each day, there may not be enough hours in the day to take care of everything that needs to get done.
If you find yourself in this dilemma: where you feel the urgency of growth, but don’t have enough time or talent to complete all your projects in time, let alone drum up new business, it may be time to rethink how you’re running your business. Here’s the thing: the day your small business stops growing, it’s starting to stagnate. Eventually, all it takes is one or two financial emergencies to put your business at risk of closing its doors.
The only way to develop new products, improve your services, and take care of paperwork, meeting payroll, and proactively market your business is to get some help. While the idea of hiring part or full- time employees may not be a realistic option right now, you can outsource many mission-critical business functions.
Let’s take a look at 3 areas where you should try to forge successful outsourcing partnerships:
1. Outsource bookkeeping and accounting:
Even if you happen to be good at managing your own finances with the aid of the right software, as a business owner, you simply don’t have the time. The assistance of highly efficient CPA services will force you to stop multitasking. In reality, there’s is no such thing as multitasking. It’s really just task-switching. And if you do it long enough, you tend to get scattered. When you work on too many projects at the same time, your performance in each one will drop as your stress levels rise. You can only juggle so many balls up in the air before you begin getting fatigued and start dropping a few. Task-switching is not a sustainable solution for responsible financial stewardship.
Besides helping you keep your books straight, an accounting firm can also help you with payroll. Payroll is not a simple task. You’re not simply calculating hours employees worked and distributing income. You also have to take into account government labor law regulations and tax codes. Should you begin to make mistakes—like not paying employees on time, accidentally underpaying them, omitting compliance with certain regulations, or improperly filing taxes, then you risk a tax audit, which can result in some heavy business fines.
2. Outsource your inbound and outbound calls:
If you have a small team, you are slowing down your business by asking them to handle all your sales and customer service calls. It is much more cost-effective to outsource your inbound and outbound calls to a call-center. Call centers based in the Philippines, in particular, have developed a reputation for providing low-cost, high-quality call center services. When dedicated call center agents manage your large volume of calls on your behalf, you will free up your employees time so that they can focus on other business tasks that you need to get caught up on.
3. Outsource your content marketing:
Your business needs consistent content development to nurture relationships with prospects and customers. Although it’s an important aspect of your marketing, it does take time to write blog posts, stay up-to-date on social media posting, and regularly create YouTube videos for your channel. When you’re short on time, it’s difficult to be consistent. The interval between your blog posting gets longer and your hastily done YouTube videos begin to attract negative comments. Why not find talented freelancers to help you build your brand through content marketing? Even if you still want to pen your own blogs or show up in person on your YouTube videos, they can do much of the research of your themes.
Focus on What You Do Best
By outsourcing these three business functions, you will free up your business capital, begin focusing on what you and your team does best, and get experts to handle some of your most complex tasks. This extra flexibility in your schedule will make it much easier to give your business a chance to flourish.