Small Business Outsourcing: Take Off Some Hats
Every small-business CEO wears many hats. Productivity experts will tell you that there’s a price to be paid for multitasking: a 40% drop in productivity and an increase in errors. And that translates into real money. Globally, multitasking costs an estimated $450 billion in reduced productivity every year.
Changing the equation means changing the amount of multitasking you do and outsourcing some of those “hats.” Of course there are costs associated with outsourcing too, and they have to be weighed against your lost productivity. Renzo Costarella, writing in Medium, has done the math for us and found that most small business owners can profit from outsourcing these four tasks:
- Accounting – While full-service accounting firms can be pricey, you can save time and money by outsourcing part of your accounting, like the time-consuming task of payroll. Conserve your time for other bookkeeping tasks such as billing, which can often be automated to save even more time.
- Marketing – No one knows your business better than you, but getting the word out takes a lot of daily time and attention. Outsource the less “hard sell” activities, particularly digital (online) marketing, so you have time to act on the leads generated by your marketing activities.
- Customer Support – Whether you’re selling simple pet rocks or complicated IT, customers will have questions and will want a quick response. Costarella recommends finding a customer support firm that gives you scalable options, and gives your customers options for communication channels, from phone to email to live chat.
- Human Resources and Recruiting – Getting the right team is vital to your success, but reading hundreds of resumes to find the perfect candidate is a time vacuum. Farm out the vetting process to a recruiting firm, and spend your time evaluating the finalists.
As your business grows, you may find that some of these tasks need to move in-house. That transition will present another challenge: Where to find office space for additional workstations? Before your staff has to start sharing desks and chairs, look into condensing your storage space with compact high-density mobile shelving or vertical carousel storage. These space-efficient storage systems can give you as much as 50% extra floor space, compared to traditional storage – plenty of room to increase your headcount without increasing your real estate costs. When your need for outsourcing ends, you’ll already be prepared to take your business to the next level.
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