7 Areas Modern Small Businesses Should Look at for Outsourcing Opportunities
Employee salaries are expensive, as many small business owners know. Unfortunately, you can't run a great business without a team of great people. What is fortunate is that you don't have to hire full-time employees for every function in your business. Outsourcing work is a great way to get specialists to do specific tasks without spending too much, leaving you free to spend capital on growth and innovation. The problem you face is figuring out which jobs should be outsourced. Here are some ideas for areas to consider for outsourcing.
- Generating Leads - An inability to generate leads is one of the leading causes of small business death. If you can't attract customers, you can't generate revenue. Without revenue, you face a quick but painful failure. In-house lead generation can be done, but you'll likely get more value for your money if you hire quality lead generation experts.
- Inventory Management - Not everything about being a small business owner is exciting. There's a lot of paperwork to handle, especially in inventory management. Unfortunately, it's one of the most important tasks on your plate. Nothing kills a company quite like stolen equipment and not knowing how much is left for sale. This often results in losses and unfulfilled purchases. Let a fulfillment and inventory service do this for you.
- Conversion - Most of the people who go to your website aren't ready to give you their money, at least not yet. Getting them through the door is one thing. Closing the sale is another. Your leads won't matter if your salespeople or website can't close the door. This is often where conversion specialists, such as people who boost your brand through content marketing, come into play. Increasing your conversion rates isn't something you can just do. It requires a lot of study and testing, two things you may not have the time for. Instead of spending late nights at the office and recruiting anyone who'll say yes to the cause, get an expert. This will leave your time free for more other pressing concerns.
- Financials - Unless you have the appropriate training, you probably shouldn't handle the company's financials yourself. It's like representing yourself in court - you have enough to worry about as it is, and you need specific education to do it properly. Mishandling your money can easily end with you in debt because you accidentally spent too much. While hiring a full time chief financial officer is likely beyond your budget, you can hire a part-time CFO to manage your cash flow and financial strategy.
- Customer Support Representatives - It doesn't take a lot for a customer to ditch your small business. Poor customer service is often the culprit. People have come to expect that things can go wrong with what they buy, but they've also come to expect great response and aid from the seller. If you can't provide that, you'll never create a strong consumer base. Unfortunately, customer support teams are expensive. That's why you should outsource it. A virtual assistant who knows your industry is ideal, but you can also opt to hire a whole team from a business process outsourcing company if you want to future-proof your company.
- Personal Assistance - You'll likely be swamped from the start of your entrepreneurial journey. There's a lot to do, and there's always more coming down the pipeline. Before you know it, you're out of people you can delegate to, and you still have a fat to-do list screaming for attention. It's time to look for more help. Personal assistants can help ease the load. However, you won't always need them. You can hire virtual personal assistants as you need them, keeping costs low and your productivity high.
- Content Creation - One of the first problems you'll need to solve involves penetrating the market. More often than not, content creation plays a huge role in that. Content creation and marketing lets you not only develop a social presence, but it can also expand your reach and generate leads by establishing you as a helpful authority in the industry. Unfortunately, not everyone is a gifted writer or content creator. Even if someone in-house was actually a good writer, they'll likely have to commit a lot of their time to it. Full-time writers and creators can get expensive, and you won't even need them all the time. Working with a content writing service is much more affordable, and you can control costs by buying only what you need.
These are far from the only jobs that your small business should outsource, but it's a great start. If you're wondering what else you could outsource, think about an important task. If it doesn't need to be done in-house due to industry secrets or because you'll always want someone in the office for it, it's often better to outsource it.
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