As a business owner, you are effectively the person responsible for keeping all the plates spinning without dropping a single one. This is a tough ask, especially for the person who is also trying to figure out where to take the business next and how to keep up with the competition.
For small businesses, the obvious answer is to outsource, but what most big businesses don’t realise is that this is probably the best solution for them too. The world of business is becoming gradually more and more specialised so it makes less sense to bring in all kinds of industry professionals under one roof. Instead, you should be looking to create symbiotic relationships with lots of specialists to get the best results for your business and even offer them some of your own skills. This way, you can streamline your practices and do more of the things you are good at.
Can I Outsource Business Processes?
The first place to start is by outsourcing the business processes you aren’t specialists in. Accounting, HR and IT are the most common processes to be outsourced and many businesses benefit from great advice as well. However, you should look at your company structure and see if there are any other areas that you might like to outsource.
One example might be identity checking. Many businesses rely on their customers providing proof of identity to ensure that their work is legal (think online casinos who need to check ages, passport checks by transport companies and high risk transactions). Outsourcing this check to a business like https://www.jumio.com/trusted-identity/netverify will offer your peace of mind as well as reduce your workload.
Can I Outsource Client Work?
These days you can outsource almost anything and you would be surprised how many businesses offer their clients services that are in fact provided by another company at a preferential rate. Working together with another company, you can share resources and give your clients a much better service than you would have managed alone.
Marketing and advertising and both industries where this practice has long been established and since customers are interested in results, they will be impressed that you can offer so much. This is why there are now so many freelancers working in this business who can take their highly specialised skills between businesses and offer some really fantastic work.
What If I Can’t Pay for Outsourcing?
Way back in the introduction, the words ‘symbiotic relationship’ should have stood out. Many businesses choose to work together and provide preferential rates where there is a good exchange to be made. This means that outsourcing might not be as expensive as it sounds. If your business offers web design and consultancy and your accountants need just that, you should make a deal to trade skills.
While we are so used to spending and earning, bartering is still alive and well in the business world and if you know your worth, then you should be able to make some excellent deals that benefit you both. In fact, the phrase what goes around comes around should be a good guideline here. You never know if by doing one person a favour someone else will see what you have achieved and want to engage your business as a result.