Every business on a path to growth will often find itself at the crossroads of wanting to expand and keeping down costs. If you’re growing a team or building a startup but find it difficult to scale, perhaps it’s time to take a long hard look to see what has been holding you back. Ask yourself these questions: Do you feel overwhelmed with minor repetitive tasks? Are you missing out on important roles and responsibilities? Have you been juggling too many roles at work and unable to focus on what you need to do? If you answer “Yes” to all of these questions, perhaps it’s high time you considered outsourcing some of your business processes.
Many business owners are apprehensive about the idea of outsourcing. Just because you’re a hands-on type of entrepreneur does not mean you can’t be in control of your outsourced team whether they be employed onshore or offshore. Technology has come a long way to provide business owners with management tools and software so they can be in full control of their remote teams.
One of the most common mistakes of small business entrepreneurs is wearing too many hats. Fact is, trying to do everything on your own keeps you from actually being productive. Getting sucked into a rabbit hole of tasks eventually can lead to stress, business mismanagement, and eventually, burnout. Outsourcing and building a cost-efficient virtual workforce lets your business thrive and grow much faster without spending
too much on office space, equipment, and extra overhead expenses that would be needed if you were to expand in-house/on-site staff. But how does a growing company determine it is time to outsource and which tasks are best suited for outsourcing?
1. You can’t keep up with the demand
When sales start to pour in, this only means more orders for products or services. Which is good, but can you supply the demand? The pressure of getting orders out quickly starts to build and this is where you start to question if you are properly staffed to handle the sudden surge in demand. Hiring new in-house staff and acquiring new equipment spells expenses you may also not be ready to cough up at the time. Outsourcing some key roles can free up valuable time and space you may need to use to accommodate a busy period for the company.
2. Employees Doing Multiple and Ambiguous Roles
This is not an uncommon practice for small businesses. Some employees don’t mind doing the extra work for extra pay but most often an overworked staff is a recipe for disaster. Most times, productivity goals are met but the quality of work suffers due to countless errors. While you may be hesitant to outsource some tasks, doing this gives your team the bandwidth it needs to focus on tasks that are getting you orders and happy satisfied customers.
3. You’re On A Tight Budget
Money is always a good indicator of what you can or can’t do. Having an in-house staff can be expensive to maintain. Aside from salaries and benefits, there is also the need to procure office equipment, furniture, and office supplies. On top of this, rent can put a big strain on your budget along with monthly utility bills. Outsourcing tasks to a remote workforce can cut down operating costs. The unpredictability of the economy has seen many companies turning to offshore outsourcing. Outsourcing reduces overhead costs by as much as 50% and allows entrepreneurs to redirect their resources to increasing productivity and prioritizing revenue-generating projects.
4. Can’t Find The Right Talent
While there may be many skilled professionals who can do a particular job you require within your location, outsourcing covers boundless territories and time zones. You have the ability to get access to global talent from skilled professionals located in a different country that already has the required equipment and tools for the job.
You may choose to hire a virtual assistant with a specialized skill, or someone willing to do repetitive and mundane tasks. It is highly advisable to outsource such tasks to individual freelancers or a third party outsourcing vendor who has everything you need under one roof. Third party service providers can offer a whole team at your disposal where you don’t even have to do the tedious task of screening and hiring or providing the office workspace. This makes a lot of sense to do for a growing company with limited resources. It can allow you to focus on the core competencies you need to grow your business instead of getting lost in the daily chaos of a role that does not really drive your productivity goals.
A clear example of this is customer experience(CX) or customer care. If this is not your main business offering, it is best to outsource this function. Outsourced customer support service has proven to be more effective for business mainly because there are certain strategies, systems, and equipment that may be needed to develop this area of your business. Customer service is a crucial part of growing a company, but it takes time and money to develop customer experience strategies. Call centers have boomed mainly for this reason among B2C companies. But you don’t have to be a large company or a B2C business to outsource CX. You can start with just one remote virtual customer service representative and grow from there as the need arises.
5. Crunched For Time and Deadlines
Time is of the essence to achieve growth and productivity. A lot of times, entrepreneurs get stuck handling transactional tasks instead of strategic work. Business leaders who are caught up juggling administrative tasks are basically just the same as being in player-coach mode. Drawing up crucial and winning business strategies needs focused time and attention. Getting caught up with looming deadlines can take away the time you need to conjure strategies that will get your business to surpass your productivity goals and margins. Determine which tasks you can hand over to an outsourced team so you can focus on meaningful work.
Business growth is always a welcomed goal. But you need to take a few steps back to see if you’re ready to take the big leap. Scaling your business can be a costly move but it can be done with cost-efficient solutions. Outsourcing and offshoring offer companies the opportunity to grow and manage projects effectively. The right time to explore and venture into outsourcing is often based on the needs of your business. But the ultimate goal is always to tap the capacity of the company to be flexible and keep operational costs low. After reading this article, do you think you’re ready to take the next step to grow your business? Connect with EVS today. Our virtual staffing solutions might just be what you need to help pave the way for your goals.