We are big champions of outsourcing operations.
As CFOs who spend our time advising clients on becoming profitable and growth-focused, outsourcing is at the top of our financial strategy list. We’re also exceptionally good at walking our talk.
You might be surprised, however, by the reasons why we recommend and practice outsourcing, as well as by the outsourcing guidelines we suggest. While outsourcing is one of the smartest strategies for growing businesses successfully, it’s important to do it right.
The no brainer reason to practice outsourcing is, of course, cost. But that’s just the tip of the iceberg. Beyond savings, outsourcing provides innumerable advantages and serious value. Outsourcing enables growing organizations to:
- Hire the Best: The cost of staffing top talent is beyond reach for most growing businesses. With outsourcing, you can afford to work with people who bring deep experience and exceptional skills.
- Get Only What You Need: Outsourcing can be structured by project, rather than hours. You only pay for the services you actually require.
- Gear Up for Growth: Because outsourcing means you can afford real expertise, you’ll have a team of people capable of taking your business to the next level.
- Mitigate the Migraines: Working with an independent contractor is less hassle than dealing with full-time staff. From payroll admin to personality conflicts, non-employees not only cause less headache operationally, but are usually in best behavior mode 24/7.
- Flex Up/Flex Down: Growing companies can be in the “GO! NO, SLOW!” cycle for some time – even established companies are finding themselves on the boom/bust roller coaster. Outsourcing lets you staff up or down on a dime.
- Run Lean and Clean: Less admin and human resources issues, easier partnerships, plus grow/shrink adaptability, all mean one thing: Simplicity.
Now that we’ve outlined a few benefits of outsourcing, here’s how to do it with greater success:
- Find the Jacks and Jills of All Trades. An individual with multiple talents can grow with your company, rather than forcing you to find new people for each new level of work.
- Go Big, Think Broad: Outsource the best people you can afford. A highly experienced person can usually do more work in less time, plus you won’t have to spend valuable time training. Remember, too, that outsourcing does not equal admin – BottomLine is great example of that – every role can be outsourced, even the C-level.
- Start Sooner: It’s an easier transition to full-time employees if you’ve already been outsourcing. Begin as soon as you can so that you can put your attention on what you do best.