Make your Small Business Succeed by Effectively Outsourcing
Starting a small business is a time consuming endeavor that requires an enormous amount of multi-tasking and handling of everything from communications, accounting, legal, reception, marketing, sales, etc.
Or does it?
Many small business owners attempt to do everything themselves. Generally that is due to the fact that they just cannot afford to hire an in-house attorney, accountant, receptionist, bookkeeper, lead generator, etc.
Enter the world of outsourcing. Even large multi-national firms outsource huge amounts of work.
In many instances outsourcing is definitely less costly and more efficient than doing it all yourself.
Larger companies have long ago realized that with the advent of the internet, outsourcing can also be done to countries that offer far lower employment costs and operating costs than their home country.
The Philippines, for example, generates about 9% of their GDP from providing outsourced services anywhere from medical back-end work, to legal research, to call center work. And most of those services are provided to Fortune 500 companies looking for any method of cutting costs to boost profits.
Small business already frequently outsources their reception work through a call-answering service, and outsources finance to a local accountant or bookkeeper. But why stop there?
By outsourcing your telephone answering service to a local company, instead of paying $2000 a month for a receptionist, a typical phone answering service charges $1.00 to $1.50 a minute for answering the phone for you. With the average small business not likely to receive more than 300 minutes of receptionist service a month, the savings are enormous.
However, instead of using an in-country answering service, try using an overseas based answering service instead. A Philippines based outsourcing company can provide excellent service at a fraction of the cost of a Stateside service and due to the close ties between the Philippines and the USA, many Filipino speak excellent English and with an American accent! The savings here would be almost 50% of using an American company.
Many Process Outsourcing Companies will offer you answering services but can also do your bookkeeping at a fraction of the cost as well. In fact, all kinds of work can be outsourced to the Philippines including lead generation, bookkeeping, back office administration, etc.
Keeping your costs down when starting or managing a small business is vital to success. Every dollar saved is worth more than a dollar earned as earning money costs money, whereas saving it costs nothing!Follow @randerson1228