The Small Business Administration (SBA) reveals are over 33 million small businesses in the US, accounting for approximately 99% of all enterprises. In today's fast-paced and competitive business landscape, many small business owners are outsourcing business functions to virtual service providers in a bid to cut costs, streamline operations, increase productivity, and enhance efficiency.
Many don’t realize that you can outsource many functions in your companies office space, starting with company phone answering, a receptionist to greet your guest and handling all of you mail requirements. You can even benefit from outsourced office management, providing all office equipment, copiers, high speed internet, zoom conference rooms and IT support. All while having a serviced, furnished office with a wide range of amenities.
Let's highlight some signs it's time to start outsourcing some of your business functions.
Increased workload
Having plenty of work to do is a sign of a thriving business. However, if you can't get all the work done on time, you are setting your business to fail. If you consistently find yourself overwhelmed with excessive work that you can't effectively manage within your existing resources, outsourcing can help alleviate the burden. Delegating some tasks lets you focus on your core responsibilities and enhance your overall productivity.
Rising operational costs
As your business expands, your operational costs will keep rising. With high salaries and other costs related to office leasing and infrastructure costs, you will definitely be better off outsourcing some of your functions. Outsourcing allows businesses to access skilled labor at a lower cost than hiring in-house employees. It eliminates the need for investing in infrastructure, technology, and training. By delegating non-core business processes to Quest Workspaces, you will cut operational expenses and increase profits.
Declining customer service quality
Customer service is crucial for the success of every business. Today's customers expect to get in touch with someone and have their issues resolved quickly. However, when you are too swamped with other business tasks, your customer service will suffer. Outsourcing your customer service to a receptionist or administrative assistant can boost the customer service you offer and free you up to take on other core tasks.
Your work-life balance is suffering
Although work is essential, you don't want to be working too much at the expense of your social life. If you are starting to miss family dinners and other social events you wish to attend due to work, it is time to seek help, even for some hours each week. By outsourcing, you will focus on essential responsibilities, reduce your workload, and create more time for your personal life.
You can't find the right talent
If you can't find the right talent locally to implement complex business projects, you can find highly skilled professionals or specialized experts by outsourcing. Outsourcing allows you to tap into a larger talent pool at a fraction of the costs of hiring a full-time expert. By outsourcing specific tasks or projects, you can avoid expenses related to recruitment, training, infrastructure, and employee benefits. Outsourcing also enables you to quickly access skilled professionals without lengthy hiring processes. This can help expedite project timelines and increase efficiency.
What business functions can you outsource?
The following are some of the top areas to outsource:
- Accounting:If you are not a financial expert, it takes a lot of time and skills to master all the processes and compliance standards your business must meet. However, a skilled virtual accountant can manage this area so you increase efficiency and save hiring costs.
- Marketing: When it is time to scale your business, tapping the help of an outside marketing firm can benefit you. They can handle all aspects of your marketing, from ad design and content creation to social media posting, so you can focus on the internal functions of your business.
- IT management: As IT advances, you may not have the skills or resources to hire full-time IT experts to help implement the latest innovations in your business. Fortunately, you can outsource these needs to a managed service provider to help handle the initiative you may have.
- Administrative tasks: Outsourcing administrative tasks can save costs, improve productivity, and provide flexibility, allowing you to focus on growing your business and delivering value to your customers.
Maximize productivity with Quest Workspaces
During the initial phases of your business, you may find it easier to run and handle all the business operations on your own or with a few helping hands. However, as the business grows, you will need to delegate some of the responsibilities to others. Outsourcing allows you to get more done, so you increase efficiency and productivity. It also allows you to keep costs under control and focus on the parts of your business that you enjoy and are good at.
Quest Workspaces provides solutions allowing small businesses to tap into specialized skills and expertise that may not be available internally.
Contact us today to schedule a free consultation.
