Outsourcing certain departments in your small business to outside firms can seem only possible for large corporations, but this isn’t the case. Multiple services can allow other entities to handle without having to expand your full-time workforce.
Accounting is one of the first services that a young business should most definitely outsource. Unless you have lots of financial experience, handling your small business accounting on your own can be very difficult, and hiring an in-house accounting department can be very costly in terms of both infrastructure and staffing.
Hiring an independent business accountant can be an inexpensive and efficient decision, as competent hires can often handle the books of multiple businesses without you having to pay them as full-time employees. Independent accountants can also process books on time as your small firm won’t have the myriad of financial transactions incurred by a large corporation.
According to the Small Business Administration (SBA), most small businesses report spending between $1,000-$5,000 per year on all accounting expenses. The SBA also reports that 71% of all small businesses outsource some aspect of their accounting tasks, so it is a popular option for entrepreneurs.
The internet has made hiring virtual assistance (VA) more convenient for both firms and employees. It has expanded the talent pool for hiring managers, but it has also made work more convenient for employees.
This can be incredibly beneficial with busy entrepreneurs who just need someone to manage their company’s communications, scheduling, and social media posting. A virtual assistant who is a master at social media advertising can be an invaluable way to get your firm’s name out in the world.
Various contractor platforms allow access to virtual assistants of every level. You can pay as little as $10 per hour for more basic assistance. This would mostly involve checking your business emails and keeping your schedule tight while you get down to business. More expensive VA’s can charge between $30-$70 per hour if they have specialist industry knowledge or offer additional services such as marketing management.
Because most customer service is done over phone or e-mail, firms can outsource their customer service department to save on the large office space you would otherwise be spending on a call center or physical desk attendants. Most modern customers prefer this method that leaves their house, so it won’t be an inconvenience for either party.
Most entrepreneurs report saving money when they outsource their customer service, but this comes at a cost. Business owners should be very careful with the firm they side with, as there is now a disconnect with the customers you are trying to help.
You need to make sure that you give a strict direction as to how you want your customer care handled by any given firm. You are ultimately handing your company’s reputation over to an outside firm.
While cost-effective, you as the decision-maker need to be very sure that the company you are hiring is able and committed to providing your consumers with the care that is in alignment with your company values.
Outsourcing tasks is a more advanced step in planning your small company, but it is not out of reach for even single-employee companies. From accounting to hiring an assistant, the internet has made sure that there are options for firms of every size and shape.
No matter what structural advice you need for your entrepreneurial vision, Global Resources has the answer for you.