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“I think it was a mistake.” “I should have stuck with what I had and...
Now that you find the need to generate more cash for your business, you have...
Every entrepreneur or business owner will encounter the need to generate more money, more than...
Businesses of all sizes have various workflow and process automation platforms. Whether you are a startup or an existing company for quite some time, there will be a time when workload will be too much for you and your employees as you grow your business. You might even delegate work to an employee though it is not even included in the job description just to make things work. However, the long-term solution is in the outsourcing.
Here are five tasks that you can best outsource to grow your business more efficiently.
For your content to generate leads, it must reach your target market. Generating leads takes time and an expert has enough experience to do it at a shorter time compared to a newbie in content marketing. Add to that, content marketing is not about straightforward hard selling. Your content must be genuinely helpful to the target market to be more effective. If done well, your content can even generate leads for years to come.
Bookkeeping can be a tedious time-consuming work. You can’t do bookkeeping and expect to have enough time to do all the administrative work and run your company. Add to that, government regulations on taxation often changes. You can’t afford to get a penalty if you are a small business. So it is best to leave this task to the experts in bookkeeping.
Given the numerous tax laws, regulations, and requirements, outsourcing your payroll is your best route to deal with these. Payroll is more than just calculating the hours your employees have worked and giving the equivalent salary payouts. You also need to consider tax audits and employee benefits. You don’t want to make any mistake that can cause much of your time and money.
If your business generates leads through online marketing, then you need to convert those leads into actual sales. There are various strategies to do this, and if you are new to it, it will take too much time to learn which could work best for you.
Scheduling and administrative tasks
Small administrative tasks can eat up your time for the whole day. Add to that, you need to focus on your core processes as the business owner. It is a good thing that you can automate employee scheduling tasks with a software.
“I think it was a mistake.”
“I should have stuck with what I had and worked with it.”
“Why did I ever think that it was a good idea?”
These are some of the things an entrepreneur or business owner runs through his mind when a business loan turns into a debt that is hard to manage. Often, it affects the business itself and struggling to keep the business running becomes a real challenge.
Business loans are effective ways of generating extra cash that can help the business grow. But there are cases where business owners and management fail to manage the loan properly which ends up in debt.
Here are a few things you can do to make sure you manage your business loan well:
Make sure you have a laid out plan for your loan
When you make a business loan, it is very important that you have a clear set of goals on where to use it. A plan must have been created so that the proceeds can be used for the purpose it was intended to. Without a plan, the proceeds can be redirected to things which are not in line with the goal or purpose of the loan and eventually lose the money without anything used for the direction of the business.
…and strictly follow it.
A plan isn’t always perfect. But having a plan to strictly follow will give you a higher chance of getting everything as how you want them to be. A plan isn’t just something to do but something that will lead you towards the goals of your business. Diverting from the plan only creates lapses and openings that would eventually contribute to a failed attempt.
Avoid overlapping loans which can lead to bad debts
Getting into a business loan is a big commitment. Try to avoid overlapping two loans that can balloon your liabilities and get your business to have a difficult time in fulfilling the obligations. If you are a single proprietor or working with a partner, always remember that your personal assets and liabilities form part of the business. This is why its necessary that you make sure your business loans won’t overlap with your personal loans as well.
You may own a small business but it must not stop you from making a website to get more leads and convert them into actual sales. A website is your virtual office where your clients can visit you and get more information about your services or products.
More and more people are now getting mobile, they may be attached on the internet, but this does not mean that they are attached to their desktops. Most people search for products, services or companies with their smartphones. In fact, this has changed the buying cycle of many consumers. This is why you must have a company website no matter the size of your business.
Step 1: Choose Your Small Business Website’s Domain Name
Of course, you need to check if your business name is still available. Makes a search in domain search tools such as Bluehost. You will know if the domain you want is taken or still available. Consider .COM .NET or .INFO.
Step 2: Choose a Platform and Hosting
Decide where to host your website. Hosting is s service of storing your website and transmitting visitors to it. Fortunately, there are a handful of options.
Step 3: Outline Your Website Content
You may not have the full content yet, but you must at least have an outline on what you want to see on your website. Focus on your user, how you want them to perceive your brand and your tone. Do you want to be sleek and smart looking, or fund and bubbly?
Step 4: Decide on a Logo
You will need a logo. When you make a logo, make it simple and easy to recognize. If you do not have the skills to make a logo, you can outsource it from a freelancer who is an expert in creating logos.
Step 5: Design Your Website
Finally, you can now design your website with your chosen theme in WordPress. WordPress is free and you can start with free themes too. Make sure that it is easy to navigate and your users can easily find what they need. Include call-to-action buttons too.
If you think things are overwhelming and getting out of hand as you try to juggle too many tasks, then it’s time to outsource. Of course, you can simply delegate the task to other employees, but they also have their own tasks to fulfill. Finding and hiring new employees to train will also take time and money as you expand the number of your employees. You can’t afford that if you are a small business with limited resources.
There are numerous benefits of outsourcing, from more time to focus on your core business tasks to getting more profit since it’s cheaper to outsource than paying more people. Here are 5 steps to successful outsourcing.
Define the tasks
You need to clearly define what you want to outsource buy knowing what you do, what you want to do and what you do not want. You have to list them in columns. Let’s say you do Coding, Company Email, and Writing (blogging). You want to do Company Email and you don’t want Coding and Writing. Then those are the things you can delegate.
With the list of the things you want to delegate to an outsourcing company, you have to prioritize and determine the top 2 or 3 items. Make a list that on what you want to be done regarding these items. Outline it in the action steps on how these will be done. Make it simple that a person can easily understand and follow it.
Identify Your Ideal Outsourcing Company or Freelancer
Identify your ideal candidate. Know the skill areas and what level of skill do you require.
You can post a job and define what you are looking for depending on the task you want to delegate such as payroll or bookkeeping, then you can look for an outsourcing company which specializes in those areas. Conduct an interview to sort your options.
Once you have chosen your outsourcing company or freelancer, you need to avoid micromanagement. The main purpose is to let people do some of your jobs so you can have more time for more important activities to grow your business. If you hire the perfect expert, then you can expect that what you require will be delivered accordingly.
So finally you felt overwhelmed with your business workflow and administrative work. You have decided to outsource some tasks to have more time for your core business responsibilities. However, with too many outsourcing companies now around the globe, how will you know which one in the best fit for your company?
This is a crucial decision. After all, you are entrusting your valuable business information to a third party. If you choose the wrong company, it will be catastrophic for your company. Here are some factors that you must consider.
Consider the company which has been in the outsourcing industry for quite some time. Check the number of its employees and it the number if growing or shrinking. Find where their operational offices are located, the company history and its experiences in handling clients with the same industry as yours.
Look at the kinds or types of projects the outsourcing company has handled and completed in the past. This will tell you what the company usually focuses on and if they have experienced handling similar tasks that you want to delegate.
Since you are looking for a partner which can greatly impact your business growth, it is important to maintain good communication. You will also know if the company can readily provide assistance when you need it. You can request for conference calls with the team that will be involved with your company tasks.
A good outsourcing company with great previous projects should be able to provide solid references. This should be a list of clients satisfied with the results accomplished. Ask for case studies if it is not given freely on the website.
Make sure that you are choosing an outsourcing company that has technical knowledge and project experience that can meet your requirements. Find out how they track results and resolve issues.
Finally, after considering the factors above, make sure that you hire experienced professionals. Start with something smaller and then expand once satisfied with results.