The goal of every business is growth. Achieving it includes spending time and resources that not all small to medium sized business have on their hands. As a business owner or entrepreneur, it’s natural to feel the need to perform all functions and orchestrate every part of your company. Letting go of other activities in your organization means losing control over what you’ve built with your blood, sweat and tears. However, doing it all even for non-critical tasks can seriously hamper your corporate objectives to multiply and expand.
One of the solutions available to you is outsourcing. We find that more and more SMBs have been partnering with a solid outsourcing provider to address business problems. By doing the same, you can cost-efficiently augment your workforce capacity and get things done by leaps and bounds.
To help you decide whether outsourcing is ideal to you as a small to medium sized business, here are 5 questions to ask yourself.
1. Does your team lack the time needed to focus on core functions?
Like everything else, businesses has its own limits when it comes to resources. That includes time, energy and attention of you and your in-house team. It makes very good sense for you to outsource non-core or even vital yet routine functions like customer service, technical support, virtual assistance, data entry, account billing and other back office work. This way, you can free up your team from all of those time-consuming tasks that they have to deal with on regular basis. Finally, you can shift your time on complex and core activities within your business.
2. Do you need access to qualified and skilled workforce minus the recruitment and operational headaches?
All companies experience challenges with hiring and managing people no matter what industry they’re in. To minimize these problems, you can farm out tasks that doesn’t necessarily need to be done in-house. An experienced outsourcing provider can open doors for your company to gain access to a different pool of talented and qualified professionals. Apart from that, outsourcing firms will also take on the heavy load of recruitment. Last but not the least, a reliable outsourcing partner will align itself with your company goals and culture to effectively manage your outsourced team. In the end, you’re left with less things to worry about.
3. Is optimizing financial resources a priority now in your organization?
Outsourcing is an ideal solution to tap into if you need more control over your operating costs. Cost savings remain to be one of the top driving factors for companies jumping into the outsourcing wagon. The mere capability of being able to relieve yourself of capital expenses and shifting a fixed cost into a variable one can be a game changer for a company’s operating expenses. However, cost should never compromise quality. Only partner with a provider who truly understands your business and operates in that disposition.
4. Are you actively aiming to grow your company?
Every business should ideally be finding ways to multiply. In fact, most would say they aim to grow but put off high potential solutions for the organization. If your company is serious about expansion, the operating leverage and cost savings that comes with offshore outsourcing will generate the funding you need to gear up for the next level.
5. Are your internal processes clear, defined and effective?
One of the common culprits among outsourcing failures is the absence of clearly outlined and proven processes in place. Similarly, a poor job description of the role that the outsourcing firm will assume can also add up to the challenge. Here’s the thing: Transferring a broken process or poorly defined role to your outsourcing partner is setting yourself up for failure.
If you’re planning to outsource a complex process or job role, have all your ducks in a row first to yield a high success rate. For straightforward tasks, partner up with a reliable outsourcing provider to help streamline your process. The ultimate goal is to have a role or work process that’s easy to understand and duplicate.
Find out if offshore outsourcing is ideal to your business. Consult with us today.