When you read business blogs online, almost all of them are tuned into the idea that outsourcing could be a significant key to unlocking the door of success. While there’s some truth in this, the reality is that there are a number of factors that either prevent you from using an outsourced partner or when it could cause more trouble than it’s worth.
As with most things in business, timing is critical when it comes to outsourcing. I’ve covered plenty of outsourcing posts in the past, and it can be valuable – but knowing when to push the button is probably the most important part of the process. With this in mind, here are some ideas which should help you reveal the right time to outsource – let’s take a closer look.
When you can pay for it
OK, so first things first – do you have the money? While outsourcing is recommended as a cost-effective way of getting things done, there are a few caveats. If you don’t have any money, for example, don’t borrow to pay for additional services – it could lead to big trouble. Instead, focus on growing your business enough first, to warrant using a third party to help at a later stage.
When you lack the time
One of the most popular reasons for outsourcing is when a company owner simply doesn’t have the time to put aside for particular tasks. There are plenty to choose from, of course, from basic filing to call answering – all of them are necessary for business but take you away from the money-making tasks you need to do. If you are finding your time with customers is reduced due to this type of task, outsource it.
When you need expertise
As a business owner, you will be something of a Jack of All Trades. Unfortunately, this will only take you so far – the simple truth is that you also need expertise. Take your IT systems, for example. As a small business owner, it’s unlikely you will have the spare cash to build an in-house IT team, but it is an important part of your business.
So in this case, you might find a third party who offers an expert service, and maybe even the chance to work with a Virtual CIO. Not only will this save you a lot of time, but you can also build successful partnerships in many different areas.
When you’re ready to grow
When you start to grow a business it can be incredibly tempting to go all out and bring in some full-time employees. After all, you are going places now, right? Well, maybe. But the truth is that success is not guaranteed. And there is every chance that your business doesn’t hit the heights you think it might, leaving you with no sales and 4-5 extra staff on your books – who all need paying.
Instead, consider outsourcing. Not only will you be able to get real expertise, but once you have proved your worth as a company – and your growth isn’t just a flash in the pan – you can then start thinking about full-time workers. Good luck!