When starting a new business, various start-up costs can be a massive headache and consume most of the planned budget. Depending on what type of service or brand the business is offering, new businesses tend to focus too much energy on departments and investments that it could outsource to a third party. Outsourcing is where an in-house or internal function of the business is contracted to a third party to perform. The result is that the business can save money delegating responsibilities to a third-party business. This is especially advantageous for new businesses. Here are five elements a new business can outsource.
1. Why Keep Your Own Books When Someone Else Can?
Although new businesses may seem hesitant to not have accounting departments in-house, there is no reason why a small business should waste staffing resources and time keeping their own books. Many businesses are focused on payroll and bookkeeping services for companies. Contracting with these businesses can help a start-up save time and money with their accounting departments.
2. Old School Marketing and Social Media Marketing Can Be Done by Someone Else
Marketing strategies and departments can consume a large portion of a budget, especially for a new business trying to capture new customers. However, creative investments, staffing and resources needed to implement marketing campaigns through conventional mediums or social media are very costly. Entire marketing firms, particularly focused on social media, help businesses with their marketing strategies. Those businesses are fully staffed with creative personnel so a start-up does not need to waste time with an advertising or marketing department.
3. Your Assistant Can Be in Another Timezone
Like it or not, administrative overhead can cost new businesses huge amounts. Secretaries, personal assistants and other staffing personnel are important to complete tasks ranging from scheduling to in-house and external business communications. However, thanks to telecommuting technology, many of these administrative services, thought to always be an in-house activity, can be outsourced to firms specializing on virtual administrative tasks. Now, a new business can have their secretaries be workers found across the country or world who can organize schedules, make and answer phone calls, coordinate mailings and maintain electronic databases from the comfort of the worker’s home or at the outsourced company’s location.
4. Human Resources Without the Department
Hiring new workers for the start-up can be a daunting task. Luckily, there are new outsourced firms that specialize in focusing on the best workers to meet the recruitment needs of start-ups. With a good profile of what kind of worker the start-up needs, outsourced human resources companies can implement numerous recruitment and hiring strategies to find the start-up the most highly qualified workers.
5. Getting a Web Presence Thanks to a Third-Party
The cost of creating, maintaining and securing the business website, especially if the website has e-commerce functions, can be costly and stressful. A start-up can ask numerous web development firms to create and maintain beautifully designed websites for the start-up while also providing very important cyber security measures.
There Is Enough Stress With New Businesses
A new business comes with great hopes, but also stress for entrepreneurs. Many in-house services an entrepreneur might think he or she needs can be outsourced to a third party to develop. When the owners and managers feel confident enough they can handle the overhead and staffing, they can take control over these outsourced duties. However, some outsourced firms are such experts when it comes to in-house business services, older businesses may want to stick with those firms they contracted with when they were a start-up.