Starting your own business is never an easy task. There are a lot of things to take into consideration. You also have to be prepared for any setbacks that come your way. You have big dreams and success is the only way to achieve them. However, starting something from scratch with limited capital is something more than someone can handle. Being a startup company, you are having a hard time choosing between focusing on your core functions or having your in-house team established. Someone suggests that you try outsourcing your non-core functions, but you are a bit hesitant as you are not well-informed about the industry. You also have some concerns if it will actually help you grow your business or be your downfall.
There is also the matter of choosing the right outsourcing partner. Starting your own company and trusting someone else to take care of some of your processes will be a leap of faith. And simply wanting to cut costs is not enough to convince you to jump in ahead.
Here are some reasons that might convince you:
Outsourcing saves you money on staff
Hiring in-house staff is still essential in helping you grow your business. However, hiring a large in-house staff will cost you more than you like especially when you are just starting. Offshoring outsourcing will save you almost 70% of labour costs.
Outsourcing ensures your business tasks are handled by a specialist
Outsourcing your non-core functions is going to be handled by a specialist. You don’t have to worry about having them trained to handle daily tasks that you may otherwise be wasting on unreliable hires.
Outsourcing saves you time
As they say, time is gold. That, of course, is true. The time you spend on worrying about your non-core tasks will let you spend them on your main objective. Outsourcing will let you be free to improve your business core and it’s growth.
Outsourcing allows your business to expand its offering.
Having outsourced some of your business processes will now allow you not only improve your current field of expertise but also expand your reach.
Now you have sufficient reasons to consider outsourcing, despite that, you are not sure about what are the certain tasks you can actually outsource. And will it in the long run really be advantageous to you?
Some tasks you can leave at the hands of your offshoring provider are:
- Insurance Functions. You can let your outsourcing providers handle underwriting assistance that is trained and knowledgeable with general insurance.
- Finance Functions. Payroll processing and bookkeeping are some finance functions you can trust your outsourcing partner with.
- IT and Tech Services. Let’s admit it, IT functions are a lot harder to build an in-house team at the start of your business. Hiring an offshore staff to take care of your IT functions until you are stable enough is an enormous help.
- Sales and Marketing. This includes generating leads, managing your social media, and laying the footprints of your business across the World Wide Web and in real-time.
- Back Office services. Data entry, HR and recruitment services, and customer support services. These tasks are mundane enough and you probably won’t need an in-house team for this right at the bat.
Now that you are a bit more open about outsourcing some of your business processes you only have to choose the right outsourcing provider. You have to remember that too good to be true is probably too good to be true. Look for options and compare them. It doesn’t hurt to research about offshoring providers and what they have to offer. Ask about their processes and their cost structure. A reliable offshoring outsourcing partner will offer you transparency above all. Transparency will let you know all about what is included and not included in your transactions. It is easy to say that there will be no markups and added fees, and while trust is essential in a working relationship, it is also important that it is backed up with proof.
Virtual Colony is an offshoring outsourcing provider that offers transparency and no markup fees. The company has a simple cost structure that provides top-notch service. You can be assured that they will provide you with an offshore staff that is the right fit for your business needs. Starting up just got easier with an outsourcing partner you can trust.
*Sources
