Time management is one of the biggest challenges facing small business owners today. Running a successful business involves spinning several plates at once, and sometimes an eight-hour workday turns into a 14-hour marathon. Small business ownership shouldn’t be that stressful!
Many successful entrepreneurs attribute a positive work-life balance to outsourcing, or contracting business functions to a third party. Outsourcing allows you to focus on growing your business as you entrust operations to other companies. Let’s look at a few functions should your small business outsource.
Information technology (IT) is one of the most commonly outsourced business needs. IT support and management require a strong base of specialized knowledge that your own employees may not have. Your two main outsourcing options are a managed service provider or an on-demand IT service that can assist you with emergencies and periodic maintenance.
Though your employees are familiar with your products and services, they may not have extensive experience with cold calling and closing deals. Many small businesses opt to outsource their sales strategy to specialized firms with more expertise in effective sales. Trusting a third-party firm staffed with highly experienced sales professionals can help you bring in more business quickly!
Your company’s payroll department, if managed in-house, should be staffed with employees who are highly familiar with tax laws and financial regulations. If this is not viable, consider outsourcing your payroll to a highly-rated third-party service. Entrusting your payroll to experts can help you avoid mathematical mistakes and filing errors that could land you in hot water with the IRS.
Are you disappointed with the success rate of your company’s marketing strategy? Invest in long-term growth by using some of your startup business funding to hire an outside marketing firm. The experts can tweak and manage your marketing strategy for continuous growth while measuring the success of strategies like social media and word of mouth.
If hiring an onsite administrative assistant isn’t feasible, consider recruiting the services of a virtual assistant (VA). They can run your social media accounts, handle your email inbox, and manage the appointments on your calendar! Removing admin tasks from your plate can help you focus on the big picture: growing your business.
Which tasks should your small business outsource? If your current staff doesn’t have the knowledge or expertise necessary to handle a department, plenty of outside firms do. Outsource the functions that you can’t reliably handle on your own so you can build your business’s strengths.
Curious about the financing options that can help you pay for outsourcing? Pango Financial’s funding solutions tool has plenty of information that can shape your business’s financial future.