How Outsourcing Can Take Your Small Business To The Next Level

Over the years, outsourcing has revolutionized the way many businesses do their work. Rather than trying to do all tasks in-house, companies are now seeing the benefits of hiring outside professionals.

In the early days of your small business, you probably did everything yourself. But as your company grows, you quickly realize that you can't do it all alone. That's when outsourcing comes in.

Case in point, a 2019 study by British market research firm YouGov revealed that “70% of B2B decision-makers” have “handed off key services to third parties” while only 25% have “never outsourced any part of their business”.

So let's say you’re a startup owner operating from a small office space for rent in NYC. Outsourcing allows you to hire a professional from, say, an Asian country to work for you. And you don't even have to bring the person to the US. They can work from home and still deliver the required output in a timely manner.

And that's just one of the numerous advantages of outsourcing.

As entrepreneur and Source Control author David Walsh once told Entrepreneur.com:

"Progressive entrepreneurs realize the unstoppable power of outsourcing to handle aspects of their business that are essential but simply don't make sense for them to deal with personally. Small business, augmented by a global pool of human capital, can compete directly with the biggest players in their space, and win."

If you have never previously considered tapping this valuable resource, there are many valid reasons why you actually should. Read on and we will tell you all about it!

1. Outsourcing helps you save money.

person putting money in a piggy bank

This is usually the main reason why many startups explore - and later benefit from - the idea of outsourcing. Suitable talent can be harder to find and considerably more costly in most Western countries.

This is where outsourcing comes in. You get to hire qualified and experienced professionals from different regions around the globe without breaking the bank. Just be sure to check the applicable wages from the person's country of origin. You want to offer fair, competitive salary to attract the right people.

2. You get to tap a wider pool of talents.

Assessing outsourcing sites, you’ll be pleasantly surprised by the overwhelming number of people out there who have the knowledge and skills that you need. You’ll see that workers from the Philippines, India, and Vietnam, for example, are just as proficient as their Western counterparts - and often come at a fraction of the cost. The potential savings can be immense in the long run.

3. A more streamlined process.

woman writing down notes while working

Running your own business usually means you have to handle multiple tasks at the same time. You can lighten the load by hiring remote virtual assistants who can do the payroll, write content for your website, or maintain your e-commerce website, among many other functions.

You’ll have fewer projects to handle, which leads to a less hectic schedule. This means you get to focus on matters that are more deserving of your attention.

4. Reduced risks.

It can be frustrating when employees quit after you have invested so much time and money into their training. Turnover can be a hassle but as mentioned earlier, outsourcing isn’t as expensive - which can mean risk reduction on your end.

Freelance gig workers can also make competent replacements if you have in-house employees who are, for example, on vacation or extended medical leave. You get to mitigate the difficulties of being temporarily understaffed.

5. The business operation continues while you sleep.

alarm clock beside laptop

When you hire from foreign countries, your business operation never stops because your staff members are working in different time zones. All you have to do is delegate tasks and check their progress at a time convenient to you.

As in the above-mentioned example, you can continue running your business from your office space in NYC without any worries.

Conclusion

As you can see, outsourcing can take your small business to the next level. It can help you free up your time, get better results, and even save money.

So yes, outsourcing can certainly help your business grow. Just do your best to find the right people by conducting thorough job interviews and assessing test tasks. Bear in mind that you will, of course, have to allocate time and resources to onboarding and training. That way, you can make sure that third-party providers understand their responsibilities well.

You’ll soon discover that outsourcing can make it possible to take your startup to the next level.

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