Like every fledgling entrepreneur, I was having the intense desire to grab the benefit of partnerships for my startup to grow in a short span of time. My initial view regarding partnering with others was not so strong. I was never into the idea of entrusting strangers to run my business, though not having enough knowledge to take the business to the next level on my own.
Yes, my startup begins generating pretty good money since the first three months of its launch. Now while looking back I got to realize if I would have applied some good strategies to make it grow much faster. From my past experience, I just learned one thing, “Do what you can do the best and outsource the rest”.
Trusting others to get the work done is not bad. But you should have the skill to judge whom you can trust. Do not hesitate to take the help of the smartest person in the room. The world is changing and there is no exception to the trade industry. Come out of your comfort zone. The age-old technique does not hold good anymore. If you want to survive in the recent digital era, then consider Partnership as the best way to attain your business goal in a smarter way.
So let’s debate on what are the activities which are safe to outsource unless you are not emotionally attached to those.
You cannot be good in all the fields at the same time. There is no harm in accepting the fact and doing something better. Do not waste your time and money in the field you are not at all familiar. On the contrary, you can shift the task to some better hand and focus on the other operations. Identify your strength and act accordingly. You can make the most of it in this way.
One more thing which I learned doing mistakes in my life is, not to take advice from people who never achieve the place where you want to be. There are people who keep on giving advice but you should be capable enough to take the valid ones to implement in your business.
There is some in-house department in every business. But you should know which and all business task can be done through internal staff and for which you need expert service. Getting the business task done through a third party expert in the field is all good for your business. Just analyze your business and its activities a bit more and make the decision right now.
At times, when your business faces extremely high and unmanageable demand consider outsourcing as a better solution. It is really a crucial decision for every entrepreneur to identify whether to outsource or not a particular task. We can help you in making the choice of outsourcing in the competitive edge.
Identify Your Core Business Competence:
Being an entrepreneur, you should know giving something which is the heart and soul of your business to a stranger is a bit tough. So, most of the business owners prefer to keep those core activities to be performed by domestic staffs to build knowledge, expertise and in-house competencies. The whole business reputation and brand equity depend on these activities.
Financial and Bookkeeping Activities
Every business has some clear-cut financial objective for which the management has formulated some plans and strategies. But there are some accounting and booking activity which is routine in nature and consume most of your managerial time. Those activities should be shifted for good. To maintain an in-house team to perform the accounting and bookkeeping task is rather expensive as it includes the cost of hiring to training. Apart from that, you can not overlook the operating cost of running a business, the ongoing employee benefits and the medical expense. Outsourcing can save you from all those wasteful expenses.
We the outsourced bookkeeping can handle your finance and accounting activities. We can give you an expert service when your business needs special care for some specific tasks. No matter is it for a short or long period, we are always there to help you out with your strict timeframe. Generally, a start-up cannot build different departments and teams for different activities due to capital constraints. In that case, outsourced bookkeeping is the ultimate solution for a quick leap.