When you create a startup, it’s okay to do everything yourself. It’s your baby, after all, and you know precisely what needs doing, and how you want it done. But at some point in the not-too-distant future, you are going to need help. With little or no income just yet, hiring employees is not possible – and foolish, anyway. It’s inadvisable to hire people on a full-time basis until you can guarantee your company needs them.
It’s at times like these when outsourcing can be invaluable for your business. When you hire third parties, it gives you the help you need, and you only pay for the work you require doing. But when is the right time to outsource work, and what’s the best way to go about it? We’re going to reveal all in this brief guide, so read on to find out more.
When You Need to Save Time
Time is money in business, as you are probably keenly aware. Every second you spend filling out invoices or doing data entry is taking you away from the money-making activities that will improve your business. Outsourcing to, say, a virtual assistant gives you the opportunity to focus on those activities and spend less of your time doing filing, bookkeeping, or anything else you might have to do.
When You Need to Start Hiring
Outsourcing can also come in handy when you eventually need to hire full-time employees. Take this business service, for example, which offers HR services and advice. Something like this could prove invaluable to ensure you are doing everything right in your hiring process, and providing your new employees with a safe, legal, and positive environment.
When You Need Expertise
Your talents as an entrepreneur are unlikely to reach across all areas of running a business. You might know the basics of marketing, branding, or finance, for example. But can you really call yourself an expert? The fact is that at some point you will need specialist knowledge, and while you might not be able to afford full-time help, outsourcing is the only way to go.
When You Need to Save Money
Hiring a full-time staff is an expensive business. Not only do you have to pay a wage – and cover periods of unproductiveness – you have to pay national insurance contributions, benefits, sick pay and a whole bunch of other expenses. Employees cost money to locate in an office, for example, and then there’s the cost of the electricity they use, the equipment they need, and all the stationery you have to provide. When you outsource, it’s a one-off payment, and you only pay for the work – not everything else. It means you can achieve your goals, work faster, and progress your company the right way.
When You Need to Grow
Finally, there is a risk involved when building your business. However confident you are feeling about increased sales, what happens if it is just a blip? You could be left with lots of employees and no work to give them. Instead, outsource until you are sure you need full-timers. It will protect you as you scale, and help keep your company on track.