Find an Outsourcing Company & Watch Your Business Grow
Surviving today’s business environment has become more challenging than ever. If you are a small business owner, it is highly unlikely that you possess all the skills necessary to build your company, grow your business and dominate your marketplace. Using an outsourcing company is one way for companies to manage uncertainty and ground their business in any environment – bull or bear.
What is Outsourcing?
Outsourcing can be defined as the strategic use of outside resources to perform business functions traditionally managed by internal staff.
Using an outsource company will help reduce costs and gain efficiencies by leveraging the talent, technology, and expertise of third party vendors.
Common Business Functions for Outsource
- Order fulfillment
- Information Technology
- Web design/development/maintenance
- Sales/business development
- Human Resources/payroll/benefits
- Customer relationship management
As a marketing outsourcing company, I call upon small to mid-sized companies with limited or no marketing resources. The people that I come into contact with are primarily CEO's and Marketing Directors, whom by nature, are very smart individuals. Often I’m asked, "why should I outsource when I already have a marketing department?" The answer is: you can, but do you really want to? Would it be cost effective?
For example, you have a great idea - but don’t have the necessary resources or expertise to make it happen – right now.
Should you wait? Add staff? Re-prioritize your workload? Experience tells us that the earlier your concept hits the streets, the sooner you can begin generating revenue. The time required to hire and train staff may be out of the question in order to meet your market goals.
Benefits to Hiring a Outsourcing Company
Companies of all sizes struggle with escalating costs of full-time employees. Hidden behind paychecks are less visible costs. Not often considered in the decision to outsource include: hiring, training, administration, benefits, absenteeism, workspace and equipment. By some estimates, employee expenses account for up to 70% of a company’s overall revenue. In addition to providing sizable financial advantages, outsourcing’s other advantages are:
1. Expertise: Harness the talent technology and expertise of niche providers and leverage best practices. Expert sources who might carry too large a price tag to employ full-time, can fit into nearly any budget on a project-by-project or as needed basis.
2. Management: Focus on the core aspects of your business and leave the worries of non-core activities to someone else without having to commit additional managers or your time to manage a project. Outsourcing companies have their own management.
3. Personnel Flexibility: Hire specialists without being obligated to keep them on when they are not needed. It is easier to terminate an outsourced relationship than to layoff full-time personnel.
4. Capital Conservation: Concentrate financial resources on core business activities vs. investing capital in overhead, such as: office space, computers, etc.
5. Time Savings: Don’t reinvent the wheel. Someone, somewhere has done it before or developed an easy solution – why not use it?
How to Choose an Outsource Company
When you hire an outsourcing company, you are essentially choosing a partner for your business. The vendor should work in harmony with your business and have the same type of work ethic and dedication to success.
Outsourcing is no longer about cutting costs and saving money. It is about how to do things quicker, more efficiently, getting to the market faster than your competitors, maximizing workforce flexibility and gaining access to highly qualified employees. Outsourcing is becoming one of the most significant business trends of this decade.
Lisa A. Maini is the Founder and President of myMarketingManager.com.