Your Small Business Bookkeeping and Consulting Expert
Author: Roy Anderson
Roy Anderson has been running his own businesses since he was a child.
His has trained over 1000 sales-people and has extensive experience in start-ups. He is the proud father of six children and four grandchildren.
Most small businesses are looking for some kind of bookkeeping help.
Old Bookkeeping Systems
It is perhaps not so surprising that so many people are still using old styles of bookkeeping to keep up with their books.
Factually, a lot of businesses just put off any and all bookkeeping until the end of the year.
They concern themselves just before taxes are due.
And that is not surprising as well.
People who run small businesses are dedicating their time towards sales, growing their business and just trying to keep their head above water.
If that describes you then you have come to the right place!
Today there are many solutions available. These systems don’t just keep your books up to date. These systems actually help you cut costs and increase profits now rather than have a bunch of receipts in a drawer waiting until tax time.
They allow you to constantly monitor your expenditures and make better decisions.
Bookkeeping has been going on for millennia. And the reason is that the heart of a business is its finances.
Most small businesses fail because they fail to keep control of that “heart” and have a business “heart attack”.
But modern bookkeeping systems do more than keep track of your taxes. Modern systems provide you the tools you need to analyse what can be done to improve sales, cut costs, etc.
In other words, you can easily see at a click of a button exactly where your money is going, and what percentage is going there.
But more importantly, you can do that from anywhere. This allows you to keep track of your business even when you are on holiday.
Other Benefits of Modern Systems
Modern Accounting/Bookkeeping software allows you to create a quote in the field right from your smart phone.
Look up all the items in inventory, provide a quote, email it, even have the customer sign it right on your smart phone!
You can even accept a credit card payment right from your phone. Your customer can easily question an invoice and you can easily respond keeping customer questions and answers all in the same place.
It would take more than a simple essay here to tell you all the benefits of modern accounting systems.
But suffice it to say that if you haven’t looked into them, it is time to do so.
Studies show that companies on proper financial software are far less likely to fail.
So if you are looking for Bookkeeping help, it is time to call and have someone explain all the advantages of accounting software to you. And if you have desktop accounting software, you need to look at the cloud based software so that you can see all the benefits today.
Google hurts Small Business – there. I have said it!
B.G. – BEFORE GOOGLE
In the days before Google, if someone wanted to open a small business, they went ahead and registered their business, called the phone company and ordered phone lines, and then they would get a phone call from Yellow Pages and place an ad.
Other advertising was placed in local papers and quite simply, they were in business. They didn’t have to be tech savvy, nor did they have to live in fear that their advertising source would be cut off.
A typical ad in the Yellow Pages was not that expensive and it lasted an entire year.
A.G. – After Google
Now that we are in the era After Google, the small business owner HAS to have a website. Now that website needs to be able to be read on all mobile phones, tablets and desktop computers.
If your website cannot be easily read on any internet/computer platform, Google punishes you.
A small business is hoping against hope these days that he can get on the front page of a search. If he cannot, his business could fail.
If Google changes the algorithm awarding front page status, and he doesn’t find out, his business could dry up overnight. He is at the mercy of Google.
Google is definitely the Gorilla in the business and anyone that has any familiarity with the internet knows that they are the King. Sure, there are other search engines such as Yahoo, and Bing. But they constitute a small minority of the searches.
The problem is that Google, being run by a bunch of Techies, think that anyone who is not a techie is of no consequence, apparently.
Read any of their advice pages about how to do something to improve your search status and you will quickly fall asleep if you are a small businessman.
Now somehow, aside from running your small business, you are required to be a guru in coding and high tech so you can stay on the front page of search engines.
Google plays God
Google even threatens to punish you if you get too smart!
If you figure a way around their intentions for their algorithms and they discover that you did so, they can decide to just relegate your entire business to the back of the queue. And there you go – instant death!
Honestly, that kind of thing ought to be legislated against. Because Google has far too much power there.
Now, let’s be fair. Google has provided a lot of tools for small business to level the playing field with big business.
However, you cannot stay in business if you cannot market and sell. All the tools in the world are of little help if you are dead because you cannot get noticed by your clients.
As they say, you can’t fight City Hall especially as a small business.
But small business owners around the country are being horribly failed by Government.
In fact, one could more honestly say that they are not being failed by Big Government, but are being actively murdered instead.
The Small Business Administration is no different. Truthfully, as someone who has operated small businesses for 40 years, I can honestly say that the SBA is more of a hindrance than a help.
The SBA includes companies of up to 500 employees as a small business. And frankly, that is where they concentrate their efforts.
Show me a small business operator of under 10 staff that has ever even been surveyed by the SBA, never mind ever been helped.
Consequently, they actually distort the image of small business and their actions hurt rather than help as a result.
Government is killing Small Business.
Over 50% of the working population works in a small business yet small businesses generate 65% of new jobs.
There are almost 28 million small businesses in the USA. But small businesses are closing faster than new ones are opening.
When have we EVER heard of a politician talking about small businesses and getting them the help they need?
40% of small businesses say that Bookkeeping and Taxes are the WORST THING about running a small business. The next highest category for worst thing is finding capable employees.
When politicians talk about the difference between the rich and the poor and income disparity, they are not talking about small business creating this, they are talking about the effect of BIG business and how big business has people earning billions and getting richer and richer while their average employee gets poorer and poorer.
Your small businessman next door is certainly not garnering all that wealth in his pocket.
Hillary Clinton hasn’t a Clue, and nor does Donald Trump!
Hillary Clinton thinks that the best thing to do to equal the inequality of income is to create a $15 minimum wage, yet what will that do to small business? As a business consultant, I can genuinely state that the average small business person is worked to death. There is somewhat of a culture of entitlement in the USA. That culture creates the second problem that small business owners face which is the poor quality of staff.
The small business owner is working overtime just to ensure he has money to pay his employees. As it stands, he is taking home, quite frequently, less than his top paid employees just to keep the doors open hoping for better things down the line. He is constantly on the prowl for funds and how he can manage just to make payroll. And now you are going to raise the minimum wage? How is that going to help?
Unless Government does something to cut his costs, provide a better educated employee, or provide a simplified tax system for that small business owner, all the increase in minimum wages will do is kill hundreds of thousands of small businesses.
And put an awful lot of people out of work!
Big business might afford an increase in minimum wages however small business owners can ill afford it.
Government Makes Policies based only on Big Business.
Have you ever heard of any politician inviting real small business owners to the White House to discuss their problems and what can be done to improve conditions for them?
No? Neither has this writer.
However, Big Business has daily meetings with politicians to bend the laws in their favour. And where is the SBA? Nowhere in sight. In fact, the SBA is never talking to small business either – unless of course they have 500 employees!.
The Government is Corrupt
We look at Hillary and the money she and her husband make for giving a speech. Ever what she pays her daughter for a speech is preposterous.
The system stinks.
This corrupt Government allows for millions of dollars to be paid by the worlds rich to gain the ear of politicians. And there is no corruption here?
Small business creates 65% of new jobs, and with more than half the population employed in one, where is Government?
They are clearly in the pockets of Big Business and small business struggles along and are the real building blocks of America today.
The Government is small business’s worst enemy, and is Big Business’s best friend. It is not the way it should be!
The Race for the White House
Does Donald Trump really want to win the White House? Then perhaps he ought to start showing some real concern for the biggest employer in the USA and not be worried about what China is doing.
Most small businesses are still using manual bookkeeping systems instead of Cloud Accounting. And it is costing them money.
For those using manual systems the people I speak to have thrown out the old Paper General Ledger and are now much more “advanced”. They have that all on Microsoft’s Excel.
And, amazingly, they also have now become very advanced and have access to their bank accounts online!
They have a person, often the poor wife, doing all this bookkeeping using these two “highly advanced” systems.
Well, honestly, perhaps it is a bit better than a paper General Ledger. But that itself is debatable because a paper General Ledger is unlikely to suffer from a hardware failure, i.e. a hard disk crash.
Some time ago, accounting software for small business started to appear. In 1983 by Scott Cook and Tom Proulx in Palo Alto, California hit the scene with Quickbooks.
At the time there were other competitors who have faded into the background. Quickbooks has managed to gain a substantial market share in the USA, but still a small percentage of small businesses use their software.
In 2006 Xero was founded by Rod Drury and Hamish Edwards from New Zealand. Xero has taken a large section of the Australian and New Zealand market and is expanding into the USA.
The original accounting software from Quickbooks ran on a Desktop Computer and allowed small businesses to keep bookkeeping records on line.
Far from being similar to Excel, Desktop accounting software could:
Help balance the books.
and track inventory, etc.
Desktop accounting software is so far ahead of manual methods. Small businesses using desktop software are far less likely to get into trouble with the IRS and were far more likely to be profitable than those using manual systems.
After all, Desktop accounting software saved a lot of time for owners and reduced their costs considerably. For the most part, those small businesses that didn’t use desktop accounting software, either just never knew about it, or were to intimidated to learn it.
Recently, a major advance has been made in Accounting Software and that is “Cloud-based” software. To give you a basic picture of cloud based software, it has two major advances:
Anyone can access it if they have the username and password. So, staff all over can access it and permissions can be given to restrict people to being able to see only what they need to see.
It is not subject to data loss through hardware crashes.
The two major suppliers of Cloud Accounting software to small businesses have bank level security on their systems. You have a lower risk of being hacked with cloud accounting than the chance of your hard-drive crashing in your desktop version.
You run a higher risk of having your office broken into and your computer stolen with all your data on it.
Even with all the scary news about businesses and governments being hacked, you are probably a lot more secure with cloud accounting software than you are having it on your desktop.
What’s good About Cloud Accounting?
So what can be done with cloud software vs. desktop software?
Well, for starters, now you can access it on the road, allowing your sales people to actually create an Estimate right on their smartphone, email it to the client, or even have the client read it, accept it and sign for it straight from the smart phone.
Your employees can accept credit cards straight on their phone and have that automatically credited to your bank account.
Invoices can be paid online, straight from the clients email
You can keep track of your business even while on holiday.
And these are just a few of the things you can do.
If you haven’t looked at cloud accounting software, now is the time to do it. And if you just want to talk about it, please feel free to give us a call!
Accounting and taxes. That’s the thing that more than FORTY percent of small businesses surveyed say are the things they hate MOST about running a small business. Most have no accounting software.
The vast majority of Small Businesses are still keeping their receipts in envelopes until the end of the year. They are still doing their books manually.
They are manually creating invoices, manually tracking expenses, manually keeping track of accounts receivable, manually tracking inventory, manually reconciling their bank statements each month.
And they have huge piles of folders and papers on their desks and are in a general mess.
You are at risk of losing $170,000 this year to fraud.
Further, the biggest and fastest growing segment of criminal activity in the USA today is employee fraud and theft according to the FBI. Small businesses are the most at risk and account for the majority of this theft because they cannot accurately track inventory, track payments, ensure accuracy of their accounting, etc.
The median loss to small businesses is a whopping $170,000 a year in fraud and employee pilfering. And the best way to fix that risk is to stop it before it occurs.
Countless small businesses go under each year because their messy financial scene eventually catches up to them.
They end up with bad credit, huge late payment fees and assessed fees due to late or forgotten payments to the IRS. And then there is employee fraud.
If this is you, you are at risk!
Most small business books are a mess!
Most small business people that I speak to are aware that their books are a mess. They reluctantly hire an accountant, or sometimes hire a bookkeeper.
But that someone who keeps manual records for them gives them absolutely NO feedback on their business.
Small businesses fuddle through, make a mess and bemoan the situation to anyone who will listen.
Tax codes are complicated, employee payroll deductions are frustrating, hours and hours are uselessly spent on these things and we become unpaid collectors for the IRS.
You are spending way too much on your bookkeeping
Small businesses are spending almost 10% of their income on trying to handle the mess they create by not being on proper accounting software.
And all this because we simply just don’t have time to figure out how to fix it. You are scared of the learning curve to learn accounting software and you close your eyes and hope for the best.
We have a solution
If this even remotely describes you then the good news is that there is a solution! And that solution is to firstly get yourself a proper bookkeeping company. Not one that will manually do everything and charge a fortune.
But one that will actually act as your CFO for you. One that will put you onto proper bookkeeping software, set it up for you, teach you how to use it PROPERLY. And one that will keep it all up to date for you.
As your CFO, your bookkeeper should be ensuring you get proper reports for you. Reports that allow you to see where your business is headed. They should give you a good cost savings analysis each month showing you where you can cut costs.
They should be giving you suggestions and ideas of where you are getting your most profits and help you steer your business to profitability.
No accounting software?
If you even have a bookkeeper and you are not getting that from them, if they are not using accounting software, then get rid of them and get someone that knows proper cloud based accounting software.
Software that can generate invoices for you, generate quotes, allow you to just photograph and upload your receipts so that you are not keeping them in an envelope.
You need Software that can give you proper reports, show you where you are overspending, help find cheaper suppliers.
Software that allows your client to instantly pay you online right from their emailed invoice or quote, and that can do much more to get your business moving.
Don’t have a heart attack!
Finances are the heart of your business. Finances are the pump that keeps you going, and if that pump is weak, inoperable, antiquated and just plain missing, you are likely to become one of those statistics called a failed business.
This is not some area that you should put off for another day. This is something that you ought to handle now!
We can help
At My Cyberstaff, we handle all this for you. Give us a call, let us show you what we can do for you.
We will cost you a lot less than you are spending now.
We save you money and cut your expenses. Our company ensures your receivables are collected on time and improve your cash flow. And we make you more aware of where your business is headed and how to get profitable.
Read the news today and it is fairly certain that you will come away with the idea that American Businesses are betraying the country and sending thousands of vital manufacturing jobs, high tech jobs and Customer Service jobs out of the country to China and India.
It is a reasonable concept. After all, one can look at horrifying stats such as the ones below:
Total number of U.S. jobs outsourced in 2015 2,382,000
Number of jobs outsourced to China since 2001 3,200,000
Number of California jobs lost to outsourcing since 2001 560,000
Percent of CFO’s surveyed who said their firm was currently offshore outsourcing 38%
Percent of CFO’s who favored India for outsourcing 26%
Percent of CFO’s who favored China for outsourcing 18%
These look scary until one looks at the effect of this. Is there really a huge effect on the number of Americans employed once jobs are outsourced? The answer appears to be a resounding NO!
As can be seen from the graph, aside from dips due to recessions, the trend of the graph does not change.
And it is very clearly seen from the graph that the last “Great Recession” was a major cause of any lost jobs in the past decade. Once the recession ended, the number of available jobs continued its steady rise.
But look at the statistics of pollution levels in the USA since we started really outsourcing manufacturing to China:
Nationally, concentrations of the criteria air pollutants have dropped significantly since 1990:
Carbon Monoxide (CO) 8-Hour, Down 77%
Lead (Pb) 3-Month Average, Down 99%
Nitrogen Dioxide (NO) Annual, Down 54%
Nitrogen Dioxide (NO) 1-Hour, Down 47%
Ozone (O3) 8-Hour, Down 22%
Particulate Matter 10 microns (PM) 24-Hour, Down 39%
Particulate Matter 2.5 microns (PM) Annual, Down 37%
Particulate Matter 2.5 microns (PM) 24-Hour, Down 37%
Sulfur Dioxide (SO) 1-Hour, Down 81%
During this same period the U.S. economy continued to grow, Americans drove more miles and population and energy use increased.
While in China, the quality of air has dramatically worsened.
Do we really want those manufacturing jobs back? Do we really want to have to wear gas masks every time we go outside? Do we really want those bad health effects on our children while they are growing up?
Interestingly, violent crime in the USA has gone up and down almost in concert with the level of pollution in the USA. So violent crime has also dropped dramatically since we started outsourcing our pollution to China!
Who should start their own small business? YOU SHOULD.
Will you succeed? Maybe. Statistically most small businesses “fail”. But… is going out of business necessarily failure? That depends on the metrics you use for success or failure. If you spend your life worrying and not living your life, that is honestly a bigger failure than going out and trying something new!
Most articles you read about starting a small business give you all this negative information about what you need to carefully do and if you don’t you will fail. Some have a huge list of questions that you should ask yourself first to see if you are “ready” to start a business, have the intelligence, the smarts, the tools, etc.
Let me tell ya!
Let me tell you honestly: You are NEVER ready to start a small business. Nor are we ever ready to get married, or have kids, or go to University, or any of the other big decisions we make in life. But we do make them. And sometimes they turn out well and sometimes badly. And we never know which way it is going to go no matter how much we plan or think ahead.
I have started many small businesses in my life and quite a few have failed. And some have succeeded and some should have and didn’t because I did something really stupid.
But I did it and I am proud of it and I provided employment and fought wars and battles and lost some and won some. And at the end of the day, I am still alive and much happier for having tried and have stories to tell my kids.
I’m proud of my Dad!
My father always was trying new businesses and frequently failed. But as a result, all his kids became entrepreneurs. My one sister had a magnificently successful restaurant and has been involved in some really intriguing businesses. My oldest sister, in my eyes, has been magnificently successful.
None of us have university degrees.
In fact 3 of us never graduated high school. But I can promise you that due to the volume of “stuff” we have read over the years to manage our businesses, we have a far broader and more useful education than most people graduating with MBAs!
My brother’s business is on the verge of a breakout success. I am proud of him!
So… what’s the verdict?
So, should you read all the negative hoola about starting a small business, all the warnings, all the negativity? Yes. You should. But should you allow it to affect your decision to start a small business? Resoundingly NO! Splurge! Do it! Go baby! Jump in! I’m rootin’ for ya!
If you succeed, you will feel great! If you fail, hey! That’s not the end of the world! Pick yourself up, dust yourself off, walk it off, stop crying, hey that’s life! Get a new idea and go again!
All too often I see Sales Agents in a HUGE hurry to talk to their next customer. They have no idea WHO that customer is, WHAT that customer Wants or Needs or WHY the customer might want or need it.
Not knowing anything about your prospect is a BIG sales mistake.
Slow Down and Smell the Roses
[bctt tweet=”Honestly, Sales is not a race.”]
I realize you might have sales quotas and a boss breathing down your neck, but it is not actually a competition on how many customers you speak to, but really it is about how many sales you get.Is it not preferable that you speak to 5 customers and sign up 4 rather than speak to 30 customers and sign up 1?
I often see it with rookie sales agents. They are in a tremendous hurry to knock on that door, or pick up that phone and they have no idea who they are calling or why.
If you read my earlier article where we discussed Newton’s Law, then you should know that when you rush headlong into a sale, you are going to get the equal and opposite reaction of the customer rushing headlong AWAY from the sale.
It is not a pretty sight.
Do your Research
Before you approach a customer, do your research. You need to know who the customer is, what he does, why he is there, why he might need your product and any other data you can glean about the prospect.
E.g. did he ever buy a similar product, did he hate it, love it, etc.
Does he have a wife, a child or children, what is his age, what are his likes and dislikes? ANY data you can obtain about the customer is going to help you to talk to him. Does he live in a big house, a small house? Is he frugal, is he a spender, is he married, divorced, etc.?
Why do you need all this information? Well, think of it this way; if you found out that 30 people were in a bus in some remote village somewhere in the world that you have never been to and never heard of and ran off the road and they all died, does it really ruin your day? No? Exactly!
But what if you found out that a bus that contained 30 kids from your kid’s school. You find out it ran off a road and they all died. Then that makes a HUGE impact.
Why? Because that school is YOUR kids school, you know that school, you have seen that school, you have walked the grounds, you may not know the kids personally, but you might have seen them. It is a completely different story.
Familiarity breeds affection.
If you discovered something killed your worst enemy you would be more shaken up than finding out something killed someone whom you have absolutely no idea about. You have more affection for your worst enemy strangely enough.
The more you know about the customer the more you will like him. And the more he will like you. Whether you like someone or not has a lot to do with whether you want to speak to them or not.
You are not really interested in speaking someone that you do not like. And how familiar that person is to you determines whether you want to speak to them as well.
By way of example, if you are Chinese and you are walking around in China where there are 1.4 billion other Chinese people, you are not inclined to go talk to everyone you see.
But if somehow you find your way into the middle of Africa amongst nobody but Africans and then one day you see another Chinese person there? You are going to have a huge smile on your face and immediately run over to talk to them. They will be just a happy to see you.
Knowing something about your prospect makes it a lot easier to talk to them and them to you.
Why Else Should I slow down?
Well, nobody appreciates being pushed into things. Taking your time, not rushing into the sale, and spending some time just getting to know your prospect s not only more fun, but pays handsome rewards. We all trust friends more than strangers, right?
Don’t just rush into the sale. Make friends with your prospect, be interested in him or her. I tend to not even talk about what I am there for until I know the prospect and I are getting along.
The Lady on the Porch
I was once training some door to door guys and I had them go and try sell our product to an African American woman. She was sitting on the front porch reading a book. She shot the first rookie agent down in flames. He went up and immediately started pitching the product.
After he came back defeated, I sent the second rookie. Of course he received an earful because she had only just managed to kick out the first chap. The third poor victim had it even worse!
I went in and closed the sale once they were all completely convinced that the prospect was impossible. First, I approached her and told her that I was sorry that we had disturbed her reading. I mentioned that it looked like a book about Africa and that I had been born in Africa. She said yes. She remained irritated.
I concentrated on the book and asked about the title, and the author and whether it was any good. Then I wrote down the information and thanked her. I then pointed out the broken drain from her gutter and suggested that the water might damage her foundation. I asked her if she wanted me to do a temporary repair.
Of course she did and I did a 10 second repair that would last a few months until she found someone to fix it properly.
I then asked her if she wouldn’t mind telling me why she thought the first three guys were so irritating. She happily obliged. We were friends before long and I told her why we were selling the product we were selling and she happily bought it.
It’s not magic
There was nothing magic about this. But the third biggest mistake I see sales people make is being in a hurry. Maybe it is laziness, maybe it is not. But in Sales, slow down, research, learn about your prospect and make more sales from fewer prospects!
“I used to have to walk uphill there AND back, in the snow, with no shoes…”
No, it’s not that kind of story, but really, back in the day when they wrote all the old sales books and sales advice there was one thing that they drilled into sales people’s heads … Always be enthusiastic.
Now, with all due respect and regards to those old sales masters, I am here to tell you that this is one piece of advice that you can just scrap. Yup… take that concept and hit the “delete” button in your head.
[bctt tweet=”“Always be enthusiastic” is the biggest lie in sales!”]
Back in the day, we had just won the Second World War, the economy looked great, employment was abundant and the future was just rosy! Of course people were happy. The news had no chance to depress them yet and so if you arrived all depressed trying to sell them something, you were not well received.
“How do you like them apples..?”
There is this lady sitting in her house mourning the loss of her husband and you walk in there all enthusiastically and say, “Let’s go party!”. How do you think she is going to receive this enthusiasm on your part? Not too well, right?
Likewise, if you just won the lottery and are “over the moon” about it and come home to see everyone in the house looking completely gloomy and depressed, what happens to your mood?
In this case, opposites do NOT attract!
People can handle someone being at roughly the same emotion that they are in. If your emotional level is too high or too low, you will receive a bad response.
So where is the Average Westerner today? Are they highly enthusiastic, or a bit on the gloomy side? Well, judging by the phenomenal sales of the pharmaceutical companies, especially of their anti-depressants, I am just going to hazard a guess that it is not enthusiasm!
The fact is, today, mild interest or boredom is more easily tolerated by the public at large than enthusiasm.
Observe your prospect
When you approach that next prospect, take the time to see where he is and approach him at the same emotion or slightly higher. Don’t overwhelm him with enthusiasm. You will terrify the poor fella and make him not trust you. In fact, he just might think that you are out to kill him!
Have you ever observed a kid that is a bit on the timid side? If you approach that kid enthusiastically, he is making a bee line for his mother’s skirt to hide under!
On the other hand, a small and timid smile on your part followed by looking away, and then looking back shyly yourself and smiling again will draw the kid out. If you slowly raise your emotional level, he will follow along until the kid is happily interacting with you.
[bctt tweet=”Adults are just grown up kids!”]
We can learn a lot about adults by observing children. Don’t make this sales mistake!
Small business owners often make the mistake of trying to do everything themselves.
Let’s face it, starting or running a small business is a lot of work and keeping expenses down is always a critical factor. But trying to do everything yourself to save money is not always the best idea. But you can outsource overseas.
[bctt tweet=”It is better to concentrate on what you are good at. Don’t become a jack of all trades.”]
But outsourcing is often expensive. Is there a cheaper alternative? Yes! Do what the big boys do and outsource overseas.
Doing your own bookkeeping or paying an expensive bookkeeper in the USA to do it is not the best idea. With rates for bookkeeping services in the USA ranging anywhere from $50 to $100 an hour, sending that task overseas for $15 an hour just makes good financial sense.
Bookkeeping is a task that requires accuracy but does not require a degree in Finance. However, in the Philippines one can find a University Graduate to do your bookkeeping at a small fraction of the salary a worker at MacDonald’s receives in the USA.
Just like bookkeeping, payroll can also be outsourced overseas at similarly low rates. Doing payroll yourself is an expensive and time consuming endeavor. Not doing it properly can make it even more expensive. The IRS exacts heavy penalties for failing to pay payroll taxes.
Making a mistake in this department is not something you want so let someone else worry about it.
A professional outsourcing company will ensure that yo are meeting allet the current rules and regulations freeing up your time to do what you need to do – growing your business!
Marketing and Sales
All businesses live or die based on their ability to sell and market. But we don’t always have time to do all that is necessary to increase sales. You can outsource overseas Lead generation, Email Marketing, Website Maintenance and SEO, Inbound Sales Calls and many other aspects of sales saving you a lot of time and money.
You can outsource Invoicing, collections, data and order entry, maintaining your schedule, appointment setting, voicemail, email management, legal research, booking travel arrangements and a host of other tasks you are probably doing yourself right now for a lot less.
When you first start a small business the time it takes to do these tasks can consume a quarter of your day or more. Having someone perform these tasks for you gives you a lot more time to get things moving.
There are many administrative tasks to outsource.
Telephone Answering – you can also outsource overseas
It is very clear that a telephone answered by a live person is much better received than one answered by a machine. Outsourcing your phone answering overseas will not only improve customer satisfaction but also increase sales.
By outsourcing these tasks to an English Speaking country like the Philippines you can cut your costs dramatically and improve your sales.
We are now in a Global Economy. This self evident fact definitely affects Small Business as well. Fortune 500 companies have been outsourcing these tasks and becoming more competitive. Small businesses need to find a way to realise the cost savings of outsourcing overseas too. You can outsource overseas!