How to Tell Which Projects to Outsource and When

Nowadays it is almost impossible to do build a business without using outsourcing as a tool to help support its growth. Outsourcing is highly recommended in most cases, especially if you own a small business. The sooner you start with it, the better your chances for success and developing long-term business relationships will be.
It may seem a little bit difficult, but outsourcing a portion of your business has proven to be cost-effective, and with good organization you can have the time to focus on the essential parts of your company. Also, technology opens possibilities for choosing the right partner in a web of many great and talented individuals. For any specific task, you can appoint professionals from all over the world.
There are two ways to go about it, depending on your needs: strategic outsourcing with another local or offshore company, or outsourcing a single component for daily activities. Deciding when and which projects to outsource can be overwhelming, so listed below are a few guidelines that will help you make the right choice.
 


Which projects to outsource
First, you need to divide the areas of your business into those that are essential and the ones that don’t affect the business directly. Outsourcing the core of your business demands quality and puts you at a higher risk of making a mistake that you can’t afford to make. The most effective approach is outsourcing repetitive, specialized and expert tasks presented below:
  • Bookkeeping and accounting – these tasks are needed a few times a month, so if you can’t afford it full-time or just want to save some money, it’s an excellent choice.  
  • Data entry and verification
  • Customer support and receptionist
  • IT support
  • Marketing and telemarketing services – for campaigns, sales and calls.
  • Transcription and translation services
  • Administrative tasks – reservations, email correspondence, scheduling
  • Research-related tasks
  • Social Media – for promoting and marketing
  • Analyst/CFO – requires a high level of expertise
  • Shipping inventory      

 


When to outsource?
There is no right or wrong time to implement outsourcing into your business plan However, small businesses gain profit a lot quicker, but for medium and large companies benefits come in the long run. On the other hand, it is important not to rush things. Once you have established your business goals, before you take the next step and outsource the business, include the following things.

 

  • Business changes

 
Does my business need to change? Change is scary but necessary to keep up with the competition and an ever-shifting market. Don’t make radical changes on the areas of your business that are working properly. Find the problematic parts or areas you think can be improved and if you lack the correct knowledge, time, or ideas; hire a professional to help you plan further steps.
 

  • Budget

 
Start small. If you are on a tight budget, consider hiring a freelancer. Post the job position, set the price, and monitor the bidding. The price should not be higher than you can afford; there are a lot of experienced freelancers and it’s important that you carefully examine youroptions. Check their portfolio and previous work, communicate with them and for better collaboration set a milestone payment system. It keeps the arrangement flexible and allows you to follow the progress.
 

  • Hire personnel

 
Expanding the business is easier with an additional pair of hands. If you don’t have any, consider employing a personal manager. A personal manager is a counselor who provides assistance as the staff specialist. He or she motivates the employees, provides advice, assists in development and employment,works as a consultant with other departments, makes plans and organizes schedules.
The best solution for outsourcing is to slowly build your team. A methodically constructed planin collaboration with the other company members allows for fruitful outsourcing, improves the brand and cuts expenses.
 
Author Bio: Catherine is content developer who works in BackOfficePro. A talented writer by day and a good reader by night. She expresses her feeling and thoughts with the writing. She is loathe discussing herself in the third person, but can be persuaded to do so from time to time.

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