In 2021, there is not a one-size-fits-all approach to owning and operating a business. Guest Author Ed Carter details the value of outsourcing and why it may be a better option in today's society.
No small business can excel at everything. Instead of relying solely on your internal resources, outsourcing work to freelancers and independent contractors can help you optimize your business and reach your goals. Strategic outsourcing will allow you to leverage the expertise of outside professionals and services providers. Here’s how you can use outsourcing to achieve your business goals, brought to you below by Texas Innovators (TXi).
Support Your Contractors
To get the most out of your outsourcing efforts, do what you can to support your freelancers. As Business 2 Community explains, it’s important to acknowledge that freelancers are very different from employees. They’re not working for you, but with you! Provide them with the tools they need to complete their work but be careful to avoid micromanaging them. The best thing you can do is provide straightforward instructions, set clear deadlines, and maintain an open line of communication.
Your freelancers will work best if they understand the goals and values of your business. For example, if you are hiring someone to help with branding or marketing, they will need information about your brand voice, tone, messaging, and other important details. A well-designed logo is a key element of branding. Your logo will set you apart from the competition and build a strong first impression with customers. If you don’t yet have one, you can use a free logo maker to create one in just a few minutes!
Outsource to Reduce Costs
Many business owners outsource work to reduce costs. Turning to freelancers and service providers can save you from hiring full-time staff and the various expenses that come with employees. When you hire contractors, you avoid paying payroll taxes, workers’ comp, unemployment insurance, pensions, health insurance, vacation time, and other benefits. This will free up cash for growth projects! With more working capital available, you can finally invest in business projects that will help you meet your sales and marketing goals.
Free Up More Time for Core Business Tasks
Not only will outsourcing save you money, but time as well. Strategically outsourcing routine and repetitive tasks will give you more time to focus on core business tasks. If your internal team is spending a lot of time fielding customer service calls, bookkeeping, managing inventory, or posting on social media, outsource all of these tasks so you can work on projects that will drive you closer to your goals. For example, you could use your newfound time to attend networking events, hunt down new leads, build brand partnerships, improve your sales funnel, research your competition, or open new sales channels!
The Disadvantages of Outsourcing
While it’s clear that outsourcing has many advantages, there are also a few drawbacks. For one, you will lose some control over how your business tasks are performed. As long as you hire experienced freelancers with a strong track record, this shouldn’t be too much of a problem.
You also have to be careful about being ripped off. Freelancing has exploded in popularity in recent years, and there are many people out there trying to make a quick buck by taking advantage of small business owners who don’t know any better. Read contracts carefully to avoid issues. Consider also hiring freelancers based on referrals instead of weeding through applicants on freelance job boards.
Hiring great freelancers will help you mitigate many of the disadvantages of outsourcing. Take some time to learn how to find and spot high-quality contractors. Most importantly, be prepared to pay for quality work. If you set your budget too low, you will only attract inexperienced freelancers who may not have the skills you need.
Strategic outsourcing is a great way to give your business a competitive advantage, save time, reduce costs, and access top talent that will take your business to the top. In other words, outsourcing will help you achieve your sales and marketing goals!
About Ed Carter
Ed is a guest author for Texas Innovators who specializes in financial literacy for adults with disabilities and parents raising children with disabilities.
Currently, Ed runs his own site called ablefutures.org which incorporates articles, blogs, resource links, and more information that is free to those with disabilities.
Over the years, I’ve worked with clients of all ages, backgrounds, and incomes. About 10 years into my career, I saw a need for financial planners who specialize in helping individuals and families living with disabilities. Regardless of their nature or how long they’ve affected someone, physical and mental limitations often cause stress and confusion when it comes to financial planning. Many people are unaware of just how many options they have when it comes to financial assistance and planning, so it’s an honor to offer my experience and change people’s lives for the better.
Now that I’m retired, I’m committed to continuing my services, even though I work on a broader scale than when I was working 9 to 5. I now spend my free time writing financial literacy articles for people to share on their blogs, collecting resource links for people to share on their websites, and collaborating with like-minded folks who want to make a difference.