Time and money are two of the biggest challenges for most startup business owners. In fact, according to research, 33% of business owners are faced with the challenge of acquiring capital or bringing in more cash inflow, and 13% struggle to manage their time — and these challenges tend to be more pronounced during the very first stages of launching a startup business.
This is why it’s often the next logical step for startup business owners to outsource some areas of their business operations to a trusted outsourcing partner. Aside from being an efficient cost-cutting tool, outsourcing also frees up time for businesses, big or small, to focus more on their core functions and address workload capacity issues.
Here are some of the key business areas that can be safely outsourced when launching a startup business:
1. Digital Marketing
Marketing has evolved to encompass a diverse range of skill sets, most particularly in the field of digital marketing. This can span from search engine optimization (SEO), graphic design, content development, social media management, and even to tasks that are not directly tied to marketing but still essential to it, such as web and mobile app development.
Marketing, as it stands, is critical to any business, yet it’s also often expensive to maintain an in-house marketing department with such a wide spectrum of skills required. Additionally, the many facets of digital marketing can be overwhelming and sometimes time-intensive. Ergo, it only makes sense for some business owners to outsource digital marketing.
2. Accounting and Payroll
Accounting and payroll functions are possibly the most common ones being outsourced, and for a sound reason. These tasks are time-consuming and require specialized knowledge, yet they are only required a couple of times a month; therefore, hiring in-house accounting staff may not be a cost-efficient choice.
Accounting can also extend to bookkeeping functions and can cross-over to human resource administrative tasks such as handling compensation and benefits. Payroll functions also go beyond just calculating salaries; they also involve legislative and regulatory provisions, which you can also safely outsource.
3. HR and Recruitment
A thriving startup with a growing number of clients also means staffing-up to serve them. Hiring the right people is essential to the growth of a business, but all too often, the recruitment process can be arduous and expensive.
This is why many startup companies have opted to outsource their human resource and recruitment functions, such as talent acquisition (including screening, interviewing, and on-boarding new recruits), and HR administrative tasks such as compensation and benefits, handling government-related transactions, and more.
4. Administrative Tasks
Virtual assistants have become invaluable to many startup business, as they can handle a wide variety of administrative tasks that would otherwise be time-consuming on the part of the business owner.
These admin functions that you can outsource include scheduling, email management, data entry, and even jobs that require specialized skills such as content writing, social media management, graphic design, translation, and much more.
Outsourcing offers many benefits to businesses that all translate to better business management, better financial status, and a happier and more focused atmosphere for in-house staff. The key to a successful outsourcing, however, is finding a trusted and reputable agency, and to build a mutually beneficial relationship with your outsourcing partner.
To know more about outsourcing best practices, visit our website at https://www.ilfusion.com