10 Ways Outsourcing can help grow your Business
Outsourcing is when you hire outside professionals or services to take on part of your business workload. You may want to outsource part of your work because you don't have the space, you need and financial expert, you have periodic busy periods, or you need more production to get orders out on time. Here are 10 ways outsourcing can save your business time & money.
1. You won't have to take time to train employees. This will allow to spend more time working on your marketing and advertising campaign.
2. You won't have to do time-consuming tasks such as adding new equipment or learning new software to complete certain tasks.
3. You won't have to interview employee candidates. this will allow you to spend more time improving your customer service and in return you will get more repeat purchases.
4. You won't have to fill out all the employee paper work such as tax forms and payroll schedules. This will allow you to spend more time developing new products.
5. You won't have to rent extra office or work space to complete certain tasks. You can all the money you save on other business expenses.
6. You won't have to spend money on employee cost like taxes, medical, vacation time, holidays, workers' compensation, unemployment cost.
7. You can speed up your order and delivery system with the extra help. Your customers will appreciate the fast service and you'll have a higher chance that they will buy from you again.
8. You could expand your market share by becoming a middleman and offering your subcontractors products or services. This will increase your business profits and give you multiple income streams
9. You can take on extra or large orders your business couldn't handle before. This will expand your market share and you could also offer to take the work your competition can't handle.
10. You could end up receiving orders from your subcontrators. Your subcontractors may also tell other people about your business.
Articles courtesy News Canada and Simple Joe Inc. http://www.simplejoe.com/ published winter 2006. Canada's SOHO Business