In today’s competitive world it is important to focus on your strengths. One way to do this is to outsource your way to business success by stepping up and admitting to yourself what you don’t excel at. The best asset any business owner can have is surrounding themselves with the “right” people. If you can do that you are on your way to outsourcing your way to business success.
Take a look at our top reasons why outsourcing is the key to business success:
Outsourcing comes with cost advantages
The first benefit to outsourcing is, of course, cost advantages. By eliminating the costs of an employee salary, superannuation, insurances and workers compensation, you can save thousands of dollars each year by outsourcing similar work to a contractor. Whilst it makes sense to hire employees for many roles, hiring a contractor to take care of the specialised or more sporadic work means you don’t need to keep someone on staff. Plus, by choosing a contractor over an employee it means you don’t have to provide a workspace for them, or office equipment. At SOI, our virtual receptionist services are a perfect example of how outsourcing your phone answering puts serious money back in your pocket. Rather than paying a receptionist salary (Minimum $50,000 + superannuation per year), you could have your phones professionally answered from just $70 per month. It also removes the need for any complicated telecommunication systems.
Outsourcing transcends geographical restrictions
When you outsource to a contractor who isn’t expected to sit next to you in an office, it means you can hire from anywhere. This allows you to pick and choose the best person for the job, rather than being limited to the candidates in your area, or choose the most cost-effective option (whichever is the priority).
Outsourcing allows you to focus on growth
By outsourcing specific types of work to contractors and freelancers, it means you as a business owner can spend time working “on” your business rather than simply “in” it. It frees up your time and energies to build your brand and invest time into growth strategies, whilst your business continues to tick over. Many of our Virtual Booking clients enjoy having their phones answered and calendars managed while they either spend meaningful business development time with clients or spend time working on their business (uninterrupted).
Outsourcing minimises risk in your business
This is something often not considered; by sharing the risk and responsibilities of a project with a contractor, you are both ultimately responsible for the end result. This means, when you take on a highly skilled contractor to complete a project with you, you are both driven to maintain the best possible outcome, rather than relying on an internal employee who may not be as competent in a particular area and leaves all the risk with your business. The contractor’s reputation is also at risk; therefore they may work harder to resolve issues.
Outsourcing increases in-house productivity
Even if you decide to outsource only a few types of jobs and hire the rest of your workforce as employees, doing so will improve the overall efficiency of your internal team. For example, our Virtual Receptionist clients are able to enjoy an uninterrupted work day to stay focused on the job at hand. Take a look at one of our case studies where SOI was able to help a client regain $100,000 in lost capacity in one year. This is because their employees weren’t constantly answering a ringing phone (they left that to us!).
Thinking about making the jump to outsourcing?
Freelancers and contractors are now a common part of looking at new ways to do business. They’re a great way to have an edge against other competitors. Not only do contractors offer cost-savings to businesses, but they allow businesses to offer specialised services, increase in-house productivity and provide a better quality of work.
At SOI we can assist with serviced office space, meeting rooms and hot desks which can support business owners and their contractors when they require it. It’s a great way to break into the outsourcing area. We also offer virtual business solutions to help ensure efficiency in your workplace. Please contact us today to discuss how we can help.
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