Outsourcing is definitely the way of the future, especially when it comes to running small businesses and startups. It provides operational expense control, business stability, industry specific expertise, and risk management. But most importantly, outsourcing means you can dedicate your time to more important things like product development, optimization, and expansion.
So it’s high time you ditch the “I can do it myself” attitude and seriously consider outsourcing some tasks. Here are four services every small business should outsource that will inspire business growth and improve product quality.
While we can all agree that trademark registration is a crucial process for small businesses that want to make it big, it’s not a something that you should open a permanent position for in the office. In fact, you’ll only ever need to trademark something once or twice. As a result, hiring an in-house trademark expert is not really a position you need to fill. And there is little sense in becoming a trademark pro when there is no long-term need for it.
The smartest alternative – in terms of cost and efficiency – is to outsource this service. Outsourcing trademark registration gives you the best of both worlds. Firstly, you get access to trademark professionals who will do all the paperwork for you and make sure your brand is protected from copycats. Secondly, you save the money and time it will take you to become a trademark pro yourself. This allows you to focus on continuously improving your core business products and services. Essentially, outsourcing trademark services means you get the result you want but minus the hassle, money, and time you would otherwise need.
Accounting & Finance
All of your accounting and bookkeeping tasks can be managed by an outside service. Yet, most small businesses try to keep their accounting and finances in-house. This can actually do you more harm than good. In fact, many small businesses usually end up paying penalties as a result of late or incorrect filings and payments. This is typically the result of lack of experience, expertise, and team members.
While hiring one or two people full-time to overlook your finances gives you basic cover, outsourcing these tasks part-time means you have an entire team working to meet deadlines and correctly fill in all paperwork. Essentially, outsourcing these services decreases costs and increases tax compliance, thereby saving you time and money in the long haul.
Managing human resources tasks like recruitment, payroll, benefits, and miscellaneous administrative tasks can be quite complex. Not to mention, it’s quite time-consuming to administer these tasks while simultaneously making sure you comply with employment laws. Wouldn’t you rather have someone else worrying about these technicalities and instead focus on perfecting your product and customer care? Outsourcing your human resources department is a smart move for small businesses that are tight on time and budget. Additionally, this will ensure you cut down on employee turnover rates and improve the quality of potential hires. This will in turn benefit your business immensely.
Legal services are another process that every small business should outsource. The main reason is that you won’t even need these kinds of services on a daily basis. Plus, having a legal advisor in your employment is very expensive. Therefore, it doesn’t make much sense to provide a regular salary for a legal advisor or lawyer. Surely, you can think of a better way to spend this money. By outsourcing all your legal services, you only need to pay for the services you need, whenever you need them.
A Successful Business Growth Strategy
Whether you want to admit it or not external help is essential when building a sustainable brand. The best selection tactic is to outsource the processes you struggle with most, like trademark registration, accounting, or human resources. Also, weigh in the difference in costs between a full-time hire and outsourcing. This in itself could help you decide what’s best for you.
Need an extra hand turning your idea into a super successful business? Contact us to find out how we can help you set the foundations for your brand.