You’re a startup. You’re all revved up and ready to conquer the market. You’re going steady, and full of great ideas. You’d like to make your mark.
You’re an established operation. You’re looking to expand. You’re struggling to keep up. Then the pandemic hits all of us.
Whether you’re just beginning to get your feet wet or you’re all up to your neck in business, you’d eventually have to make this decision. Why? In our connected world, you cannot afford to be disconnected. Everyone’s into it. The younger set would probably equate this to “FOMO.” In business, “missing out” carries with it a tangible value — in dollars and cents.
The key is to focus on your core functions and delegate the rest to third-party suppliers who specialize in these non-core functions (bookkeeping and inventory for instance).
Streamlining your business process reaps its necessary gains when you outsource:
1) Access skilled expertise
2) Reduce overhead
3) Increase efficiency
4) Reduce turnaround time
Remember, when you outsource, you’re virtually operating 24/7 around the globe. All of these add up to increase your profitability.
The bottom line is the return on your investment. Outsourcing affords you to focus on your revenue-driven tasks to be able to generate more income.
You’ll be able to devote time —
1) For building relationships, otherwise known as human capital (which in itself is also an investment)
2) For critical analyses & evaluation
3) For strategy (your master plan for the short, medium and long term)
All of which redound to a robust ROI.
Think about it: You could be confirming appointments or strengthening the core competencies of your core team. You could be logging entries in your books or closing that mega-deal. Think about how much more sales you’d have with a virtual sales team on board.
So, do you really need to outsource part or most of your operations? Why? We say why not!