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Posted by: Biz Bang Boom on 03/05/2017

5 Reasons To Consider Outsourcing

5 Reasons To Consider Outsourcing

A dilemma that many small business owners face is the issue of when to hire a new employee. As your business grows, so too does your workload and that of your current staff. A person can only handle so much, after all. And when an employee ends up with too much on her plate, it’s only a matter of time before she decides she’s had enough and turns in her notice of resignation.

Hiring additional employees, unfortunately, can be very expensive. Good help doesn’t come cheap. And for many small businesses, an extra salary and benefits to pay can really stretch their resources thin. What’s a person to do?

Good news: There are many common business tasks that can be easily outsourced. Thanks to the internet, it’s now possible to find an endless supply of talented professionals who are eager to work on your projects for surprisingly little money.

Before you take on an additional employee, consider the following benefits of outsourcing. It just might save you a lot of money and time.

Save Money With Geographic Arbitrage 

Geographic arbitrage is a fancy term for hiring people who live in countries with lower wages and cost of living to do tasks that would cost much more in your home country. It’s a big world, and you can easily find skilled help for very little money. Just a few examples include people living in the Philippines, India, Bangladesh, and many other places.

 It’s very easy to find these workers. A variety of websites now exist that specialize in connecting people needing tasks done with freelancers who are eager to do the work. These include Guru, Upwork, Freelancer, Fiverr, and others.

 Only Pay For The Work You Need 

If you hire an employee, you need to make sure you have enough work to keep that person busy. What do you do if you run out of things for your new hire to do one day? If you agreed to a certain salary when you hired that person, you still have to pay him, work or no work.

By outsourcing certain tasks, you only have to pay for the work you need when you actually need it. You also don’t have to pay any benefits or unemployment insurance. The savings can really add up fast.

Access To Specialized Skills

Most small businesses don’t have people on staff who specialize in web design, copywriting, social media marketing, transcription, online reputation management, and so many other things. One truly great thing about using freelance professionals is that you can hire people who specialize in particular tasks. In other words, you can hire people who are really good at what they do instead of using a Jack of all trades.

Most of the websites that connect freelancers with those who need work done give you the option to review samples of their work and read reviews from previous customers. Some even give you the ability to sort freelancers so the highest rated are listed first. This lets you easily find the best and most talented individuals for the job.

Free Up Internal Resources 

Is your top sales person also the guy who does your payroll, maintains your website, and takes out the trash? If so, hiring freelancers to take care of your payroll and your website can free him to concentrate on what he does best – sales. He may still have to take out the trash.

Freeing up personnel to do what they do best increases workplace efficiency. A sales rep can make more sales. An engineer can work on more projects. A bookkeeper can record more transactions. By outsourcing some tasks, your staff can accomplish more. This can result in more business and increased revenue.

Peace Of Mind 

Having a steady flow of business is a good thing, but it’s always possible to have too much of a good thing. If you suddenly find yourself in the position of having more business than you could possibly handle, what do you do? Panic? Work all through the weekend?

If you suddenly find yourself with more work than you can handle, you may be able to outsource some of it to freelancers. This will ensure you can deliver what you promised on time, keep your customers happy, and keep your sanity.

Getting Started 

Without a doubt, outsourcing is a great way for small businesses to save big on labor and accomplish more with fewer internal resources. If outsourcing sounds like something you’d like to try, you could always test the waters by outsourcing one task to see how it goes. If everything works out, you could then outsource more tasks.

Outsourcing is affordable and easy to do. It’s a great way to grow your business without adding additional employees. It could very well be the solution you’ve been looking for to take your business to the next level.

Cyrus Vanover is a small business owner based in Nashville, Tennessee. He outsources various tasks on a regular basis.

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