For small businesses, any reduction in overhead allows you to shift more of your revenue toward operational growth, while at the same time freeing up your valuable time. Outsourcing can provide added risk management, operational expense control, and continuity, while also improving your work/life balance.
Outsourcing Your Business
Every small business can use a helping hand — but not all can afford to hire full-time employees for every function or project. Outsourcing is a cost-effective way to manage your time; you can eliminate time-consuming daily operations so you can focus on growing your business. Here are some basic tasks you should consider outsourcing:
Content marketing is an effective tool to connect with and educate your target audience without coming across as being “salesy.” While the goal is to generate leads, content marketing nurtures your business relationships and improves your chances of closing a sale. In the 2016 Gartner Marketing Organizational Design and Strategy Survey, 19% of surveyed marketing leaders reported having an executive in charge of their content marketing, but your small business may not have the budget for a dedicated full-time employee. A virtual assistant can tackle producing and distributing your content marketing on an as-needed basis.
According to research from the American Psychological Association, multitasking or trying to juggle multiple projects simultaneously can result in a 40% drop in productivity. Your projects will typically take longer to complete and come with an increase in your overall stress levels. When it comes to handling your business finances, you don’t have a lot of room for mistakes. Outsourcing your bookkeeping and other back-office tasks to Cloud Friday will let you keep your focus on important day-to-day operations.
Payroll involves more than simply calculating your employee hours and salary payouts. It also involves knowledge of numerous requirements, deadlines, tax laws, and regulations. Errors in payroll can have serious consequences – mistakes, omissions and improper filings resulted in more than 2 billion in IRS fines for small businesses in 2014. One payroll filing mistake can trigger tax audit costing your business thousands of dollars. Rather than tackling your own payroll or hiring a full-time accountant, outsource the task to an expert.
Scheduling and Administrative Tasks
Running your business efficiently means knowing how and when to delegate. It’s easy to get overloaded attempting to perform dozens of small tasks that require taking your focus off the core process of growing your business. When you outsource administrative tasks you only pay for the hours the tasks are being handled, eliminating the need for you to be wasting time on appointment-setting, responding to emails, managing social media accounts, and other repetitive tasks. By outsourcing your office work you can dedicate your time to your product or service instead of being saddled with busy work.
Outsource Your Weaknesses
As a small business owner, there are a lot of areas where outsourcing to Cloud Friday can help relieve stress. Not sure where to start? Take a good look at your processes, your team, and the regular day-to-day operation of your business. Identify the areas where you and your team tend to struggle, and determine whether the cost of bringing on a full-time hire or outsourcing would be more cost-effective.