Starting a business is as exciting as it is exhausting. Newer business owners often fill roles as salespeople, bookkeepers, and IT technicians when beginning revenue streams can’t sustain a full staff. While this saves on wages, you may become a bottleneck to your business growth if you try to do everything independently. There are only so many hours in a day and only so much one person can handle.
To avoid hiring permanent team members, many CEOs opt to outsource various tasks. If it makes more financial sense, you can outsource entire positions, easing workload and saving costs while ensuring these individuals complete assignments urgently and professionally.
1. Digital Marketing
You may not need an entire marketing team drumming up brand awareness. An outsourced digital marketing expert can expand company visibility by reaching out to customers and potential clients with targeted social media and email campaigns. You can also engage a digital sales team to operationalize the entire sales ecosystem from initial contact to order placement and loyalty enhancement strategies.
Since marketing and sales are like bread and butter, strategic marketing teams have the expertise and structure to implement innovative solutions. With their finger on the pulse of online marketing trends, they can best understand target audience priorities and how best to cash in on these interests.
2. IT Services
Few businesses today operate without computerized systems. Your business may rely on point-of-sale, computer-controlled floor management, accounting, and payroll systems in addition to workstations. There’s always a day when phone lines act up or printers go haywire.
While you may be able to fix the odd paper jam, you may not have the expertise or the time to deal with all your tech issues. Contracting an outsourced IT team helps you leverage expert tech advice to improve your internal systems and improve business infrastructure.
3. Customer Service
You must prioritize the customer experience to thrive. If completing tedious tasks stretches you thin, you cannot tend to your growing customer base. Outsourcing communication with existing customers will ensure clients always have a listening ear for complaints and updates on upcoming products without paying someone a salary and benefits. You still need to interface with valued and loyal clientele. However, hiring customer service contractors reduces your brand leadership productivity time, allowing you to focus on moving your business forward.
4. Administrative Duties
If you’re going to achieve your business objectives, you can’t spend all day fielding phone calls, filing documents, and tracking office inventory. Crucial as these tasks are, they shouldn’t take up a large share of your time when you need to prospect for new clients and source more affordable suppliers. Consider hiring a phone answering service and incorporating time-saving document organization software to save time and money.
5. Human Resources
Even in small enterprises, you still need an office that can organize employee records, complete payroll duties, and help recruit others when the need arises. Outsourcing HR functions allow you to take care of all these tasks at a fraction of the cost of hiring an entire department.
Bookkeeping understandably seems to be the most mundane part of owning a business; updating ledgers and filing receipts are not exactly exciting activities. However, keeping track of the numbers is essential for every business to stay functional. Accountants help you keep track of your income and expenditure according as well as your tax obligations following generally accepted accounting principles (GAAP).
7. Chief Financial Officer Responsibilities
The chief financial officer may sound like a role reserved for Fortune 500 companies. However, even smaller businesses need strategic financial management, oversight on bookkeeping, and profitability projections. You can hire someone to handle this highly specialized role without forking out tens of thousands of dollars every month.
Outsourced CFO services for small businesses help set your enterprise on the path to growth while ensuring it has the structure to remain profitable for the long haul.
Let Go and Grow
After surmounting obstacles to get your startup off the ground, it is tempting to go it alone. Why should you trust anyone who doesn’t understand your business to handle its affairs? Allowing trained experts to lend input will ensure your company expands more rapidly and enjoys longevity.