Outsourcing – A Great Tool for Business Expansion

As a small or home based business, you are more than likely doing most of the cumbersome and time-consuming tasks yourself instead of focusing on the aspects of the business that generate profits. Your employees, if any, most likely have very specific roles and duties to attend to. You may think that you have made a great cost effective business move, since you are saving a lot of money on the tasks that you are doing yourself– arguably “free of cost.” However, if you look closely, you may find that you are really short-changing yourself and also putting a huge obstacle in the path of growth for your business.

You are sabotaging your own business

Think of it this way – whatever time you spend on the non-profit generating aspects of your business, if translated into paid hours of work, you would see that you are actually costing yourself potential profits. Your talents, knowledge and time could be better engaged in many other ways; ways which can promote and expand your business to new heights.

However, if you are tied up with the day to day tasks you may be unable to concentrate on anything other than those tasks. Hence, a good deal of effort is wasted on trivial and mundane work, while that time could be better used for promoting your business and drawing in new streams of income.

Outsourcing sets you free

The best solution to free your time and bring in more profits is to outsource all the tasks that can be performed by someone else without compromising the quality of services your business provides. Make a list of all the things which could be easily outsourced. What kinds of things can be outsourced? Research, replying to correspondence, writing assignments, creating and maintaining websites, blogs, social networks etc., can all be outsourced for greater office efficiency and business expansion. Use the free time and mental space you gain from this freedom to strategize on how best to expand your business or maximize on the already established resources. Here are some of the benefits you would gain from outsourcing:

1. Get the job done by a professional or soon to be professional – When you outsource certain tasks – small or big – you should aim to hire a professional. A professional will get the job done more efficiently, therefore, actually costing you less money in the long run. Don’t be discouraged by the word professional because that does not automatically mean an added significant expense. If your budget is limited, you can contact local trade schools and community colleges to hire recent graduates or those close to graduation. Some schools can even provide your business with interns (non- paid help) or part- time assistants that are studying towards a degree in your specific field in exchange for course credits or real- life practical applications. Call around and see what is available in your area. Check online for resources as well. Freelance websites can be an invaluable tool for your business in the future.

2. Reduced overhead – When you are in charge of all the operations you tend to hire people to work under your direct supervision. This costs money and will take up a lot of your attention and effort. By outsourcing you can free up much more of your time by delegating smaller, more manageable tasks to individuals so that your constant vigilance is not needed. Ideally, you should simply give those instructions for one task at a time making the task much more manageable with minimal overseeing. Then you simply wait for the task to be completed.

3. Reduced overhead costs to your business – The first thing you can benefit from when you are outsourcing, is that you are freeing up your time to do more important things- more cost generating tasks. Making that conscience choice gives your credit repair company a huge upper hand in terms of a qualified and dedicated professional – YOU. Freeing yourself of the supportive work that is necessary but doesn’t bring in profits directly can also free up valuable resources by eliminating the need to keep longer hours, more costly employees and time lost/ wasted. Freelance professionals are exemplary because they require nothing but time and reasonable pay to fulfill the needs of your business. In other words, there is no office space, no administrative costs and no benefits required; just pay for the job and reap the rewards.

4. Increase in efficiency – Outsourcing will enable you to deliver faster and higher quality work because the work is delegated to someone with the time and expertise to complete the job expeditiously. Giving yourself time to relax and perform the true duties of your job can make your clients feel more attended to and as if they are your most important client. By compartmentalizing your credit repair business, you can speed up your business turnover rate and deliver quality services that your clients would make sure their friends and family were aware of.

As a tool for business expansion, outsourcing is an exceptionally potent tool. You need to use it as often as you can in order for your business to benefit completely. Outsourcing can allow your business to venture into new facets of business administration that were not possible or too cost restrictive previously.

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