Negosentro.com | You’ve just started a new business and feel like you’re working 24 hours a day non-stop. What’s the solution? In one word, it’s “outsourcing.” Leveraging the expertise of others is an age-old way to lighten the load and focus on what you do best, running the day-to-day operations of your own company.
You don’t need to be an accounting wiz, financial genius, tax expert or marketing guru to open a successful business. You only need to do your “special thing,” which might be cooking gourmet food, running a small manufacturing firm, or selling computer components. There’s no reason to be well-versed in every aspect of modern business. Here are some of the core functions that you, as a new business owner, can easily outsource to others.
Payroll, Bookkeeping, and Other Accounting Tasks
If you’re the type of owner who would rather not be bothered with numeric detail work related to payroll, tax return preparation, keeping the financial books in order, and doing similar tasks, then outsourcing is your best friend. Stand-alone companies in this sector represent a massive part of the U.S. economy. Giant corporations that do nothing but payroll services are ready to take on your unpleasant tasks as a startup owner. In fact, you can usually find competent local CPAs and accounting firms who specialize in working for startups. It can be better to outsource this, because accountants and CPAs are more experienced, passed difficult exams and have scrutinized a ton of case studies in order to prepare for it (in case you’re interested, this page: beatthecpa.com/best-cpa-exam-
Content Creation and Marketing
One of the most common areas of outsourcing is content writing. Business owners typically find it economically viable to hire freelance writers who can create advertising copy, long-form articles for blogs, white papers and even promo materials like books and case studies to give to clients.
Whatever Your Weak Point Is
Everyone has a weak spot. For some, it’s math. For others, it’s writing and marketing. In fact, whatever is the weakest card in your deck is a prime candidate for outsourcing. There’s no logical reason you should try to do what you are incapable of doing. So, in addition to the items listed above, consider outsourcing what you are simply not able to do well. This might entail hiring someone to do all customer contact if you aren’t a “people person,” or employing a personal assistant and scheduler if you don’t have an eye for detail work.
Don’t Outsource Fundraising
Some tasks simply cannot be outsourced, or shouldn’t be. Finding the right funding source is a prime example. Startup owners know best what their potential funding sources are. Family, friends, local banks and credit unions are usually good places to begin the search for startup cash. If you decide to leverage the equity in your home, for example, then you might turn to a Third Federal home equity line of credit. Business owners often utilize personal assets to bootstrap a promising startup.
Many owners also turn to crowdfunding as a way to augment other money-raising methods. In reality, there are countless sources of funding for new business owners. Outsourcing works for a lot of business functions but is usually an ineffective strategy for raising initial capital.