Could Outsourcing Benefit Your Business?

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When you run a small business, you’ll quickly find that you have a lot of decision making on your hands. No matter what area of your business you decide to focus on, you’re going to have to spend a fair amount of time mulling over your options, whittling them down and settling on the one that will best benefit your company and your brand.

Nothing will have one straightforward option – instead, you’ll have to figure out what works and is most profitable! One area of your business where you’ll have to make some serious decisions is staffing and recruitment. There are a number of different staffing options out there for any business, so you’re going to have to know which you’re looking for before you’ll be able to get the right staff on board.

The most common options right now are outsourcing (generally to freelancers or agencies) or employing staff (bringing contracted staff in-house). Both of these options come with their own perks, as well as unique drawbacks. So, you need to put thought into the process. For now, let’s focus on outsourcing. Here’s some information that could guide you in the right direction.

What Is Outsourcing?

Outsourcing is a common business practice that involves handing over work that your company needs to be completed out to a third party. This third party will ensure that the work gets done on your behalf.

Most often, this third party will be a freelancer or an agency (who will have plenty of freelancers on their books and act as a middle person between you and them). If you’re having trouble finding a freelancer but don’t want the added cost of using an agency, you can make use of specialist sites like Snupit.

Why Outsource Work?

If you have a one-off project that needs specialist knowledge, expertise or skills to complete, but don’t have sufficient work to take on a permanent member of staff in the area, outsourcing could be ideal for you. This will ensure that one off or short term projects get completed to a high standard without the commitment to paying a salary on your part.

Instead, you pay for the one job and that’s that! Alternatively, a particular job like manufacturing may need highly expensive, specialist equipment or machinery to carry out. If you don’t want to invest in this, you can outsource to a company that does have this equipment and can manufacture your goods with it. This can reduce operating costs for your business.

Commonly Outsourced Jobs

Some of the most commonly outsourced jobs tend to include

  • Graphic design
  • Copywriting
  • Product photography
  • Accounting
  • IT Support
  • Manufacturing

Remember, there’s no “right” option when it comes to staffing. What’s best for another business might not be best for your business. Hopefully, the above information has helped you to get to grips with outsourcing at least!

About the author

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Like Minds is a global thought leadership platform delivering world class events on business development, knowledge and insight aimed at entrepreneurs and business leaders to engage, stimulate and empower them to become global businesses of the future. We also offer a bespoke service for corporate clients and training programmes under the Like Minds U brand. For more information please email bespoke@wearelikeminds.com