I'm curious, which (if any) back of house business functions would you outsource first, given the chance?
I personally would first outsource Accounting / Bookkeeping and Legal. After that maybe supply vendors (have people drop off necessary supplies instead having to run out to get them myself).
I have been asked this question quite a few times by other business owners and my answer has always been the same: the best thing you can do for your business is to outsource your bookkeeping.
There are three top line reasons why I suggest this:
1. Often you may not have an expert in the business that can complete this correctly. It is extremely important in getting financial tasks (i.e.: payroll, financial reports, bank reconciliation) correct at the beginning so you can avoid making decisions based on incorrect information
2. Today’s technological allows for bookkeeping to be easier than ever before. By implementing Cloud Bookkeeping in your business, your data can be accessed anywhere, any time which is extremely powerful for business owners who are on the go
3. Finally, you will save yourself time and money:
- Time in particular as you won’t have to worry about the accuracy of to the payroll or your BAS reports as you have left it to the professionals allowing for you to get time back to spend on the more important things in your life
- Money will be saved as you will be able to pay for the time of a professional when required as opposed to having to pay for a full-time employee who you may not need all the time.
You could also look into outsourcing lead generation. By using a company specialising in cold calling and lead generation it is likely the results will be much more successful than trying to do it yourself. There are many reasons to outsource your cold calling and telemarketing and to create a consistent lead generation campaign that tops up your pipeline of leads and appointments every single week without you taking the focus off meeting the prospects and closing the deal - usually the thing most people enjoty doing and do best.
However that being said it is critical to find the right parter. In particular when outsourcing sales you need to make sure that the third party you engage will represent your business and brand the right way.
Lead generation is a also good task to outsource. Personally I don't support cold calling (creates more enemies than friends) but any kind of campaign-oriented activity in social media, advertising, content, networking, etc etc with a lead generation target outcome is wortthwhile and outsourcing is a good option. Outsourced tasks must be clearly specified, cost controlled and measured. Properly planned and managed there are low risks and high returns with the right campaigns.
Tony Zilles at Digital Business Media
Top of my list too Jeff!