As an SME, finding new ways to diversify your business and increase your profit margins can be tough, especially if you operate in a competitive niche. If you’re looking to scale but don’t have the capacity or budget to allow for it, you might want to consider the benefits of outsourcing. Below, we’ve put together some of the biggest reasons to help you get started.
Perhaps the most obvious benefit of outsourcing at least some part of your day-to-day tasks is to save you time. As a successful entrepreneur, you need to be committing your time and energy to the most pertinent and profitable aspects of your business – not the things that others could be doing for you for less money. From marketing to sales, outsourcing will give you more freedom to build your business in the way you want to – and avoid endless admin.
Maintains your reputation
What would happen if a customer entered your office and discovered the toilet was dirty? Your business has a reputation to uphold and outsourcing services such as cleaning to a company that specialises in facilities management services could be a sensible solution. Not only does it ensure that you’re projecting the best possible version of your business to your clients and future customers, but it means that the little things won’t go unnoticed or unfixed.
Offer more services
Spotted a gap in the market but don’t have the time or expertise to utilise it? Outsourcing it to a professional is another good idea – you can expand your portfolio of services and drive an increase in revenue, without taking the on the risk of hiring an additional member of staff. Come up with a great idea for a new product or service and worried that another company could take it from you? When outsourcing, ask the firm to sign a non-disclosure agreement.
Don’t worry about absenteeism
When you take on a new member of staff, you not only have to worry about training and development but human resources, absenteeism and productivity. Outsourcing takes away those responsibilities – you’re not paying for another pair of hands, you’re paying for a service. If you’re outsourcing security services, for example, and your usual security guard is unavailable or unwell, the company has a contractual obligation to send someone else in their place, whatever the cost. This means you can deliver a consistent service, every time.
Access top talent and equipment
Finally, outsourcing means that you’re able to access the very best professionals and make use of top equipment and software, without having to make the investment. Indeed, a good landscaping company will have machinery that costs several hundred thousands of pounds, and by outsourcing, your business gets to utilise that equipment as part of their fee. This is a streamlined method of running a business; why should you pay when someone else will?