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Can Outsourcing Save a Failing Business?

If your business is in the startup world, then one thing that you will come to know, is that growth is going to be the thing that will keep your business growing. If it is growing, then it isn’t succeeding, as much as it could be anyway. Having time, money, and particular resources are going to be the things that will help your business to grow. However, when you’re starting out in business, they are likely to be things that you have very little of. But the thing is, you can do something about all of these things. With the possible help from outsourcing, you can gain time back, and in the long run, get extra money and resources. So could it help your business? Here are some reasons why small startups should think about outsourcing, to keep up with their larger counterpart companies.

Cost Saving

What are the biggest business expenses that you have? For most businesses, it is going to be staff costs. You need to be able to justify the cost of new staff, as well as calculate for things like statutory sick pay, vacation time, and things like national insurance contributions or a pension. All of those can be pretty costly when it is all added up. But someone that works freelance, or a company that you can hire to do certain things, can save you money. You don’t have to hire them for anything other than the one job, and you only pay them for the work that they do. A full-time employee gets paid for showing up, regardless of what work they get done. So outsourcing can really help you to save.

Use Specialist Skills

As a small business owner and entrepreneur, you are likely to know how to do quite a few tasks in the office. But have you ever heard the phrase ‘jack of all trades but master of none’? This can be applied for your business too. Although you may know how to do the admin, payroll, or bookkeeping, it can be more efficient to hire someone that is skilled in that particular area to do it for you. If you hired out someone that does Excel consultancy, for example, it frees your time up to do things that will actually help the business to grow, rather than having to sit there going through spreadsheets. They are likely to be quicker than you if it is their field of expertise, and will actually be precise in what they are doing.

Time Saving

In business, it does need a little money to be spent in order to make money. So if you’ve been so concerned about keeping costs low, but you’re always exhausted and never have time for the bigger things that will grow your business, like pitches and client meetings, then time needs to change. Spending a little to outsource work is a simple way to get you to save your own time and use your time more wisely. When you’re focusing on the big money tasks, why not let someone else focus on the smaller, but still necessary, tasks?

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