For small business, there’s never enough hours in the day. As Benjamin Franklin advised way back in 1748, time is money. Flashforward to today, and time remains a business’s most valuable commodity.
We try, oh so we try, to claw back valuable minutes. Even so, for most small business owners, not enough minutes are saved to top up the Time Bank. ‘Time-poor’ therefore becomes inscribed on the work/life balance sheet.
A small business owner, of course, must wear more hats than Tommy Cooper. And therein lies the problem. When you rolled in to work on Monday morning the day ahead was clear. After a cup or two of coffee, you’d planned to focus on critical tasks designed to elevate your business to the next floor.
Instead, you find yourself at basement level, overseeing a litany of mind-numbing tasks such as overseeing website copy, signing off on finances, fixing printers and coordinating IT problems.
The business minute-maker
Business process outsourcing is an affordable solution for small businesses looking to save time and money. Outsourcing processes to a third party enables you to:
- Shift more revenue to operational growth
- Free up time
- Generate continuity, operational expense control and risk management
- Improve the work/life balance
- Forgo the expense of investing in a time machine
Here are five processes you can easily outsource to contribute to the growth of your business, while freeing up more time than a Rolex shop.
1. Content marketing
Content marketing is key to your online success. Content that speaks in your customer’s language will help them find your website in Google. Once they arrive, it should educate, engage and entertain them towards profitable actions.
Rather than spending your time or hire an in-house marketing team to produce regular content that people care about, you can outsource it. This is a cost-effective way to fuel your online presence in order to build better relationships with your customers. And, get this, it will also save you valuable time and money.
The information they hunt down impacts on their purchase decision. This is why content marketing is now the mainstream for businesses small, medium and large looking to strike up rewarding conversations with customers.
2. Bookkeeping and accounts
Accounts payable. Accounts receivable. Payrolls. Book keeping. Credit control. Every organisation needs to take account of their finances. Doing so requires expert management. It requires regulatory compliance. It requires significant in-house investment.
Business process outsource can change this. It can operate some or all of your small business finance functions. Reality is, your outsource provider can do so at a lower cost and more effectively. Like a Harvard educated clown, they know how to juggle numbers. A business process outsource team could securely streamline your financial systems.
Keep your small business on a roll by outsourcing your payroll. Payroll outsourcing can bring huge relief to a small business, particularly given the numerous requirements, regulations and tax laws.
Payroll, of course, is more than simply calculating the hours of and salary payouts for employees. Reality is that one numerical error can trigger tax audits.
Some small business owners handle their own own payroll or maintain the overhead of a full-time accountant. Outsourcing your payroll to a reliable service can help you avoid costly mistakes, freeing up time so you can focus on business-critical tasks.
4. HR and Recruitment
Human resources and recruitment are key to your business. A multitude of processes underpins these tasks. Managing them in-house draws attention away from the real business. You want to be doing what you do best, right?
With business process outsourcing, you can. Transfer HR and recruitment processes to a trusted third party. The end result? Fuel your organisation with next level competitiveness. And do so without the expense or commitment of hiring new staff in-house
5. IT management
IT systems are the backbone of your business. They keep your processes flowing. Configuring your systems is technical. Managing them requires expert resource. Rather than incurring the fixed cost of in-house employees, you can outsource to an offsite team.
Dedicated employees will assess your systems. Then they’ll tailor them to help you process better business. Fuel your organisation with constant support from a responsive, knowledgeable outsource team.
Deciding what processes to outsource
Your business can pretty much outsource any process it wants. In deciding what areas will really help you, stand back and look at your team, processes and the work you have to do on a regular basis. Transferring front and back office tasks to a trusted third party can fuel your business with next level competitiveness.
And do so without the expense or commitment of hiring new staff in-house.