Before researching outsourcing firms in order to select the most suitable, you should first find out if it is time to outsource. You’ve probably heard over and again that outsourcing is worth leveraging as a superb business solution. This is nothing but the entire truth. But, for this business solution to work for you, you must assess if the time is right for you to outsource.
Here’s the checklist for a business that is ripe for outsourcing;
1: The Core Aspect of the Business is being Neglected
The thing is, most times, business owners don’t even get to notice that the core activities that guarantee the existence of the business are being neglected, until things get out of hand. Often, businesses and their employees are swamped with the distractive day-to-day tasks, to the extent that the other aspects that directly impact the business are neglected. But, when such tasks are outsourced to the suitable providers, attention will be re-channeled to the core activities that give the business a competitive advantage.
2: You Can’t Afford Specialized Skills Permanently
If you need specialized skill for a certain business process and can’t afford to hire such skill in-house, then you should consider outsourcing firms. Typical example is IT tasks that require specialized skills. And, it costs a lot to place such specialists in an office payroll. On the contrary, you can find cheaper labor through outsourcing without sacrificing quality in any way.
3: If it is Getting More Expensive to Run Your Business
If the cost of running your business in terms of research, development, marketing and other aspects is growing leaps and bounds, consider outsourcing some of these processes in order to cut back cost and increase your income.
As mentioned earlier, outsourcing helps a business to leverage low-cost labor in order to maximize profit. The best part is, you will still achieve increased efficiency, as long as you employ a rigorous process to choose an outsourced service provider. So, if your company is incurring more costs, it’s time to try outsourcing as the possible solution.
4: You Only Want to Execute Temporal Projects
Why place employees for a temporal project on a permanent payroll? Instead of hiring employees in-house for a project (e.g. new product marketing campaign) that will only last for months, you should resort to outsourcing as the best option. This way, you won’t have to pay employees who are virtually of no help to you after the project has been executed.
Finally, if you’re finding it difficult to gain competitive advantage, it’s probably a sign that outsourcing firms can help out. As you cut cost through outsourcing (resulting in better pricing) and quicken your entry time to the market, you will ultimately gain better competitive advantage.
Daven Michaels is a New York Times Best Selling Author and CEO of premiere global outsourcing company, 123Employee. The company employs hundreds of young bright individuals on three continents. His International event, Beyond Marketing Live! Inspires entrepreneurs build & grow their business with revolutionary new theories and systems allowing them to design the business and personal lifestyle of their dreams.