The era of utilizing technology for your business to create functional and efficient workflows as well as connecting with talents that allow your business to expand, improve customer service, and allow you to work where you’re passionate in your business. Outsourcing is a classical tactic to use when you are not ready for employees, but you need help in your business backend (or frontend).
While outsourcing typically requires consistent cash flow in your business and sometimes even upfront pay for the contractor you are outsourcing to, the return on outsourcing is high when done at the right time and stage of your business. It can be difficult to clearly define the moment when your business is ready, but here are three signs your business it’s time to outsource in your business:
Are you able to respond to emails in a timely manner? Are you following up with and keeping track of concerns? How are you tracking previous communications? One of the first processes in your business that become neglected when there is too much work to handle is your customer or client experience.
Clients and customers are not necessarily neglected, it’s the tracking of and response time that starts to drift. While you may be ensuring communication exists, you are not focusing on retaining your leads for long-time partnership opportunities. Outsourcing in your business can give you the freetime to set up systems that capture and track these leads or even outsource the entire process of client communications.
You have reached an income cap or you are no longer able to pursue new ideas within your business – or both. If you are noticing that you are no longer able to take on new clients or that your business is not able to develop new ideas, it’s a sign that you are ready to outsource.
Outsourcing does more than free up your time, it allows you to reallocate that time to better your business. Or, if you are outsourcing backend work such as bookkeeping and accounting, it can track your income and expenses to show where you can work more efficiently as well as areas you can work harder to develop as they have a higher return.
This looks different for every business and business owner. Sometimes the task that you don’t like is marketing, for others it might be communications, and for others, it might be their accounting. Typically, when a business owner is working on a task they don’t like, the task takes longer to complete.
This is one of the biggest signs that it’s time to outsource in your business – when you are spending too much time on tasks you don’t like. There are also varying degrees that you could outsource these tasks too. You don’t need to outsource the entirety, a helping hand in the area could do wonders for your business.
When it comes to your business, it is important to know when to continue functioning as you are – and when it is time to expand and outsource tasks. If you are unsure if it’s time to outsource, think about these three reasons and what stage your business is in before moving forward.