If you’re the owner of a small business, you’re probably used to wearing a lot of different hats. Hiring an outside firm to take care of major tasks such as bookkeeping may seem out of reach with your limited resources. However, you may actually be doing yourself (and your business) a disservice.
If it doesn’t make sense to hire in-house for certain positions, you may benefit from working with contractors instead. These professionals generally have access to industry-specific tools and more time to dedicate to tasks. Without so many processes to keep track of, you can focus on your business’s core services.
What Tasks Should You Outsource?
What makes sense for your business to outsource? This involves taking an in-depth look at your company and asking some hard questions:
- What does the company do well?
- What are its weaknesses?
- Are there places you can increase efficiency or is it more cost-effective to outsource?
- Are there repetitive tasks that don’t require the company’s expertise?
How Do You Find the Right Contractors?
Once you’ve decided which processes you’re going to outsource, you need to find reliable professionals. This may involve a bit of research. Since these contractors may potentially be handling sensitive information, it’s essential that you find professionals with integrity.
If you have contacts in your industry that are already outsourcing, you may be able to get recommendations from them. You can also touch base with trade groups or professional associations.
What Should You Put in the Contract?
The contract is a vital document that should outline expectations on both sides. This includes quality and deadlines on the contractor’s end and compensation on yours. Be very clear about what you want — remember that contractors are trying to deliver a product or service to your standards, and they only have your instructions to go on.
When Should You Outsource?
You may be under the impression that you need to have a large corporation before you outsource, but this isn’t so. You should consider outsourcing when it makes sense for your company. If your in-house employees can’t handle the workload or you have employees juggling too many roles, it may be time to look outside the company for help.
While the decision of whether or not to outsource is different for every company, many businesses can benefit from considering the option. No matter the scale of your enterprise, there are ways to find external assistance.