Decisions you make at the initial days of a startup decide how successful (or unsuccessful) the business will become. When you start as a small business, the pressure to handle various departments and the associated overhead costs can put you off your long-term vision. Outsourcing is an excellent option for startups as it reduces your operational expenses, improves productivity, and mitigates avoidable risks. By letting professionals handle critical aspects of your business, you are not only presenting your consumers a maturish service, but you as an owner can enjoy a far better work-life balance.
What Is Outsourcing?
Outsourcing is an arrangement where an organization subcontracts some or all of its functions to other professionals or companies not directly associated with them. People choose to outsource to minimize costs, save time, or fill the gap of manpower. You can outsource services and functions regularly, as a one-time contract, or as and when you require.
Here are seven standard functions that startups outsource to reduce hassles.
Website Building
When most businesses have an online footprint, having a website is a necessity in this day and age. A neatly built website showcases your products and services to prospective customers and helps you boost your sales tremendously.
While you might be excellent in your trade and look to build a great business from your expertise, you need particular skills to create an attractive website. You may take the help of DIY website builders, but your website will look unprofessional and low on features. Moreover, studies suggest that 38% of viewers stop surfing a site if it is poorly built and lacks exciting features. Therefore, unless you are a professional website builder, outsource the job to an experienced website designer who can quickly create a charming website. Provide the professional with all your basic details, including the address of your cheap virtual office uk, so that your website looks complete.
Accounting And Taxes
Managing accounting and taxes is probably tiresome yet one of the most critical aspects for a small business. A mistake in this regard can land you in legal trouble. However, business owners should focus their time and energy on growing the operations instead of scratching their heads with the complications of listing the expenses in the tax forms.
An easy solution to this problem is hiring a reputable tax consultant or certified chartered accountant who can submit your tax returns and help you with valuable financial advice. A professional accountant will also assist you in organizing your finances and trip down on expenses. This is something that can be done through Employer of Record Services.
Content Marketing
Content marketing is an intelligent way of marketing that involves propagating materials online, such as blogs, videos, social media posts, links that refer the audience to your products and services. Although it is not a direct way to promote your product, it effectively generates interest among prospective customers about your products.
So, instead of spending time creating and sharing content with your friends and relations, leverage the vast networks of professional content marketers to spread the news of your products and services worldwide.
Customer Service
Suppose your startup needs to handle many customer communications, but it does not possess the manpower as per the demand. In that case, it is best to outsource the customer engagement responsibilities to a third-party call center or even an online chat service. In the beginning, you may need to train and provide resources regarding your business to the vendor handling your customers. But once you set the process in place, such partners will immensely help you grow your customer base without taking a hit.
Administration
Small business owners often get so involved with the growth parameters of their organizations that they find it difficult to concentrate on minor administrative tasks. However, such administrative responsibilities as making appointments, managing office logistics, creating tour itineraries, and responding to customers’ phone calls are crucial to making your business organized. So, owners can outsource these tasks to a firm or a virtual assistant who can ace regular administrative tasks.
Human Resource
In startups and small businesses, managing human resources is one of the key aspects behind the organization’s growth. Generally, startup owners handle human resource needs personally during the initial days. However, if you are already absorbed in other responsibilities of the company, you can outsource the task to an appropriate agency that can streamline the workflows. Experienced professionals can help you with recruitment, legal compliances, insurance management, employee training, and other corporate obligations.
Conversion Optimization
Startups have to explore every source early to bring in new customers. Many new businesses generate customer leads with the help of online marketing. However, converting these leads or visitors into customers is a mammoth task for any startup. While the average rate of conversion in the industry is around 2%, you should aim for a conversion rate of over 5% to push your sales.
You may do several things to boost this conversion rate, but they are time-consuming. So, you can approach an organization excelling in conversion optimization that can strategically improve your customer acquisition.
Conclusion
Outsourcing is integral to the success of a new startup, but that does not mean you outsource all the tasks. Know your team’s strengths and weaknesses so that you can decide the tasks that need a helping hand.
