Outsourcing: Six Ways It Can Help Your Business Thrive

Outsourcing can be defined several ways, but allow me to share what Investopedia has to say:

Outsourcing is the business practice of hiring a party outside a company to perform services and create goods that traditionally were performed in-house by the company’s own employees and staff.

Source: Investopedia

And I have been a blessed beneficiary of this business practice called outsourcing for the past fourteen years. Outsourcing made me the WAHM that I am now.

The practice of taking a piece of your business outside the four walls of your office and letting someone else run an element of it is an idea that may still be foreign to you as a business owner. But those who have embraced it have extremely benefited on it and thrived with it. I know this, because I have an inside scoop in at least a few businesses that hired me as their virtual assistant.

Outsourcing is one of the best ways you can manage your business, especially now that we are in the middle of a pandemic. Outsourcing may even be the best way to keep your business running without the worry of additional overhead expenses.

So how do you outsource?

Hire independent contractors who will provide the expertise you need without worrying about office space, office equipment, and other operational expenses that go with running a company. These independent contractors can be a virtual assistant, a graphic designer, a social media manager, or even manufacturers of products you sell.

Let’s look at six ways hiring these independent contractors can support your business and enhance the way that you do things.

Focus on your business

When you are able to delegate tasks, you can focus on your core activities. Like strategizing on how to grow your business. You won’t have to worry about the menial and repetitive tasks that would usually take your time away from what you do best.

Low cost to operate

With outsourcing, you can keep the costs to operate your business low. You only pay for actual hours rendered by the independent contractor without the need to pay for holidays and benefits of regular employees. Independent contractors come with specific expertise or niches, so you can be assured that you have the best people to work for you without spending for their training.

They also come with their own equipment and they take care of maintenance of those equipment. They also work from their own workspace so you don’t have to worry about electricity, water and internet bills.

Paying them is a breeze, too. You can get contractors from different countries and use only one platform to pay them. Platforms abound, but one platform that comes to mind is Cloudpay payroll service.

Whatever money you save from operations can then be utilized for your business upgrades or expansion.

Maintain operational control

With outsourcing, you can maintain operational control by clearly enumerating expectations. Tasks are identified and deadlines are set. You hire the contractor with the expertise that you need, so there are no learning curves. They hit the ground running and you sit back and watch them get the job done.

Identifying talented workers can be difficult, and you also have to think about how you will pay them. Your remote workers could be from different countries, which is a problem when it comes to running payroll. To keep your workers motivated, you may want to open a foreign currency account online that will enable them to receive money in their local denomination. Paying your remote workers online is efficient, and it’s more affordable than using traditional payment methods.

No interruptions

Employees are entitled to benefits. They can take their vacation leave, or even maternity leave at the time that you need them most. And because they’re human, then can also get sick. What happens when an employee does not show up for work?

With independent contractors, you are assured of uninterrupted productivity. If they need to be away from work, they will ensure that there is someone to take over the task. That is part of their contract. They take care of getting their replacement when they know that they can’t can’t do it themselves. And you won’t even have to spend for the replacement’s training. In short, outsourcing offers excellent continuity for your business.

They are your partners

Most independent contractors are business owners, too. Like I am. So they understand the challenges of running a business. Some, like me, would even treat your business as their own, so they will make sure that you thrive. They are sincerely interested in helping you achieve your goals. Because they know that your success will mean their success, too.

More freedom

Earlier I mentioned that outsourcing can allow you to focus on your business. On the other hand, it also allows you more freedom to enjoy life. Having a virtual assistant, for example, will get you more organized. Imagine not having to wade through your inbox everyday. Let your virtual assistant do it for you. Imagine not having to worry about being late to a meeting. Or missing someone’s birthday. A virtual assistant can efficiently manage your calendar for you. Not having to worry about little things give you more time to spend with your family. When you have someone else to do what you could have been doing, you gain time. And that time is yours to use.

Outsourcing can change the way that you do business. And it’s important that you look into it as a way to keep yours going. A pandemic shouldn’t stop your business operations. Outsourcing can help you to keep going even when you are working from home.

So, take a look at how you can outsource some elements of your business. You just might realize that you’re better off not doing most of what you’re presently doing.

In need of an independent contractor? Check out the video below.