Young Upstarts

All about entrepreneurship, intrapreneurship, ideas, innovation, and small business.

Outsourcing – How External Help Can Grow Your Business And Expand Your Services

In the modern connected world, more and more businesses are outsourcing to help with company growth. Faster networks and a proliferation of mobile devices has made remote working easier than ever, and the demand for freelancers has never been higher.

Outsourcing can be the best solution for growing your business and expanding the range of services you offer without incurring a significant increase in overhead. Moreover, you’ll likely find staff with skills and experience which you simply can’t source locally, increasing your company’s diversity and possibly adding to your products and services.

Here are just a few ways outsourcing could work for your company.

Scale your company far quicker than with full-time employees. 

Outsourcing has become so popular; it’s given birth to a whole new industry with specialist companies like outsourceIT, working on behalf of clients to connect them with the very best freelancers. 

Having access to a skilled and trusted bank of freelancers allows you to dramatically scale up your company’s production rate and maximize your Return on Investment (ROI). Also, outsourcing work means you can use resources as and when you need them – rather than investing in extra employees that might sit idle in quieter moments.

Streamline costs.

Because you only pay for freelancers when you need them (i.e. when they’re working at projects), you can dramatically trim and streamline your typical operating costs. Also, depending on their country of origin, you may find they are considerably cheaper than hiring in your home nation. Certainly, the cost of only using resources as and when you need them will help you reduce your overhead.

Compete on a level playing field against bigger companies.

Even if you’re a smaller business, outsourcing allows you to compete against much bigger companies – and take on considerably more work – at a fraction of their operating overhead. The lower prices offered by outsourcing will also help improve your competitiveness, possibly allowing you to pass on these cost savings to your clients in the form of lower prices.

Stop doing, start delegating.

The majority of small business owners tend to think they need to look after all aspects of their company themselves. However, this approach commonly leads to them stretching themselves too thin and possibly working at substandard levels. By outsourcing, you’ll move from a direct, hands-on approach into more of a managerial role, overseeing work rather than doing it yourself and benefitting from increased free time. Even if you already have staff, using freelancers will allow you to free up resources so your team can concentrate on other things.

Assign staff on a per-job basis. 

Most companies with a full-time team are forced into shoehorning staff into projects whether their skills suit a job or not. By hiring a freelancer, you can assign individuals on an ad hoc basis, putting together the best team with the most appropriate skills for each project.

Expand your range of products or services.

Through outsourcing, you may discover individuals with skills your current team doesn’t possess. This is particularly common in the creative arts and computer industries where you will likely find designers and programmers with a huge variety of additional skills compared to your existing staff.

There’s never been a better time to outsource.

If you’re looking for a zero-risk way to expand your business, increase the variety of products and services you offer and reduce your operating costs, think about outsourcing. At worst, you might find bad freelancers – which you can drop – or you might just find you end up discovering your most valuable team members.

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Young Upstarts is a business and technology blog that champions new ideas, innovation and entrepreneurship. It focuses on highlighting young people and small businesses, celebrating their vision and role in changing the world with their ideas, products and services.

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