Outsourcing is when you hire outside professionals or services to take on part of your business workload.
You may want to outsource part of your work because you don’t have the room, you need an expert, you have periodic busy periods, or you need more production to get orders out on time, etc. The following are ten ways outsourcing can save your business time and money.
1. You won’t have to take the time to train employees. This will allow you to spend more time working on your marketing and advertising campaign.
2. You won’t have to do time consuming tasks like adding on new equipment or learning new software to complete certain tasks. This will allow you to spend more time testing your advertisements.
3. You won’t have to interview employee candidates. This will allow you to spend more time improving your customer service, in return you will get more repeat purchases.
4. You won’t have to fill out all the employee paper work like tax forms, scheduling, retirement plans, etc. This will allow you to spend more time developing new products.
5. You won’t have to buy extra office or work space to complete certain tasks. You can use all the money you save on other business expenses.
6. You won’t have spend money on employee costs like taxes, medical, vacation time, holidays, workers comp., unemployment costs, etc. (These may vary depending on which country you do business in.)
7. You can speed up you order and delivery system with the extra help. Your customers will appreciate the fast service and you’ll have a higher chance that they will buy from you again.
8. You could expand your market share by becoming a middleman and offering your subcontractors products or services. This will increase your business profits and give you multiple income streams.
9. You can take on extra or large orders your business couldn’t handle before. This will expand your market share and you could also o.ffer to take the work your competition can’t handle.
10. You could get end up receiving orders from your subcontractors. Your subcontractors may also tell other people about your business.