Three Ways Your Small Business Could Outsource Without Compromising Quality
Small businesses face a lot of challenges. A startup often operates for several years before it begins turning a profit, requiring substantial investment on the part of its owners. The profit margin, even when a small business is doing well, is a lot lower than what large corporations typically experience. So it’s no surprise that many business owners are looking for ways to save money.
Outsourcing is one way companies can cut costs from overhead without negatively impacting the quality of services or products provided to their clients. It’s often difficult, though, for businesses to realize what they could potentially be moving out of the company so that they can concentrate more on their core business. Here are three services your business could easily be outsourcing.
1. Payroll Services
According to the IRS, about 40% of small businesses end up incurring about $850 every year in tax penalties. Much of this is a result of payroll error. Figuring out payroll isn’t anyone’s favorite task, and if you’re spending several hours at the end of each week trying to figure it out, there’s an easier way to handle it. Outsourcing your payroll speeds up your payroll services, increases accuracy, reduces the costs associated with managing payroll, and can give you better insight into payroll-related tax laws.
2. IT Outsourcing
There are a wide range of benefits businesses can experience when they outsource their IT support services. When you’re a small business, keeping even one or two IT techs on staff can be a big cost. And even then, they can’t manage your data around the clock. Potential services provided by a business IT solutions company can include VoIP, supply chain management, software, security and more. If you’re not specifically in the business of IT support services, why bother spending so much of your time, energy and money on them?
3. Outsource Your Marketing
Most of us are secretly convinced we’re good at two things without practice: business marketing, and investing in the stockmarket. Most people only find out after losing hundreds of dollars that these are skills requiring years of training. Many small businesses are now outsourcing at least part of their marketing campaigns, especially when it comes to social media. Right now, about 25% of businesses outsource at least some of their social media interactions.
Would you consider outsourcing IT work, marketing, or payroll? Let us know in the comments.