For a startup or small business, any reduction in overhead lets you shift more revenue to operational growth, while simultaneously freeing up your time. Outsourcing can provide continuity, operational expense control, and risk management. It can also improve your work/life balance.
1. Content marketing
Content marketing is the use of easy-to-digest content that is designed to educate your target audience without being too “salesy.” The objective is to generate leads, but content also nurtures the relationships you have with those leads to improve your chances of closing a sale.
You can start small by hiring a freelance writer, or you can employ an agency.
Research shows that when you multitask, or manage multiple projects at once, you can experience a 40 percent drop in productivity. Your projects take longer to complete, and you increase your overall stress levels.You really don’t want to make mistakes when you handle the finances for your business.
It is highly recommended outsourcing your payroll, given the numerous requirements, regulations and tax laws. “Payroll” goes well beyond simply calculating the hours of and salary payouts for employees. One mistake with payroll can trigger tax audits and cost your business thousands of dollars. Rather than handling your own payroll, or maintaining the overhead of a full-time accountant, outsource your payroll to a reliable service.
4. Conversion Optimization
Most businesses generate leads through online marketing, and the content you produce works to convert them into leads. According to research, the average conversion rate across most industries is just over 2 percent, with the top 25 percent of sites seeing conversions at 5 percent or higher. There’s a lot you can do to improve your conversion rate, but it’s a time-consuming process. Depending on your business model and margins, even a small lift in conversions can add tens to hundreds of thousands or more in annual revenue.
5. Scheduling and administrative tasks
It’s easy to get bogged down in dozens of small tasks that eat up your time each day. As a small business owner, you need to focus on your core processes to grow your business. When you hire a virtual assistant, you’re paying only for the hours in which tasks are being handled, and you can eliminate a lot of wasted time spent on emails, appointment-setting, and other repetitive tasks. When you automate employee scheduling tasks using software, you can focus less on busy work and more on the big picture.
Outsource your weaknesses.
There are a lot of areas to outsource. Look at your team, your processes and the work you have to do on a regular basis. Consider outsourcing those areas where you and your team struggle. Also, look at the difference in costs between a full-time hire and outsourcing. That difference alone could help you decide.