This aricle is supported by HP’s Imaging and Printing Group.
— hiring outside firms to perform work normally handled internally — is a good thing for small companies. Some businesses don’t have the man-power to tackle all the work that needs to be done. Outsourcing can also save money, giving work to companies that are cost-efficient.
The key is to outsource functions that are not integral to your core service. This will allow you to focus on what you do best.
The following are tasks any small business can outsource:
Payroll processing. Paying employees is tricky; it can take a lot of time to master the process. Outsource this task to a company that knows the payroll process inside and out so you don’t have to spend time on taxes and health benefits.
Accounting. Getting a company’s finances correct is essential, but not everyone has the accounting and organizational skills to ensure meticulous records. There are many accounting outsourcing firms that can prepare financial statements and make sure you pay bills on time.
Human Resources. Outsourcing human resources is particularly useful for small businesses that don’t do much hiring. Specialists with a wide view of the playing field can recruit the best people for your firm and deal with all the necessary paperwork.
Distribution. The skills needed to make an awesome new product are much different than the ones needed to distribute it widely. With the rise of e-commerce, international trade, and third-party suppliers, the process of getting your products to customers can be a logistical nightmare. Let the experts to do it.
Research. Have a new idea for a product or service, but don’t know whether it will sell? Hire companies to do in-depth research for you. Specialists can conduct polling, focus groups, and online data evaluation to determine whether or not your business idea will work. Having an objective third-party do the research will make the results more credible.
Projects outside of your core business. Small businesses have limited resources; they need to focus on work that directly serves customers and the mission of the company. Outsource peripheral projects to outside companies; use personnel to work on priorities.
Risk Assessment. Every entrepreneurial venture comes with some risk. Outside consultants can tell you how to avoid risk in their areas and what challenges you might run into. For small businesses just starting off, it is helpful to have outside advisers who are experienced in your industry.
Marketing. It is essential for small businesses to get their name and product known. This doesn’t mean you have to hire an expensive marketing firm to help. Independent contractors specialize in increasing brand recognition through social media platforms and word-of-mouth. With a new level of exposure, you will be energized to keep focusing on your core business.
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