Starting a business in the face of terrifying difficulties and worsening economic situations as we currently are is very difficult. More startups fail in their first year of operation simply because most of the business owners lack funding, expertise, as well as other resources required to oil the wheels of progress of their business. One of the best ways that has been identified by successful business owners that startups can leverage to avoid failing is to outsource non-core tasks or responsibilities. When you outsource your non-core tasks, you will free up time to concentrate on developing your business.
So, for instance, if you start an accounting firm your non-core tasks are those not related to finance or money. Similarly, if you run a restaurant business, your core responsibilities have to do with food, anything outside food like finance and administration, data entry, and social media management are all considered as your known non-core responsibilities.
Outsourcing these non-core responsibilities to a competent organization like Linktech Australia can propel your growth from one level to the other. Keep in mind that most non-core responsibilities are usually time-consuming; so instead of allocating your precious time to manage or deal with these non-core responsibilities, you can save yourself the stress and the energy required to develop your company by outsourcing your non-core responsibilities.
So what are these non-core tasks? This article will walk you through the 7 time-consuming tasks that you can outsource.
Let’s dive in!
#1. Data Entry and Processing
One of the major non-core tasks that every business should look forward to outsourcing to a competent outsourcing firm is data entry and processing. If you can outsource your data entry responsibility to a third party, you will have free time to concentrate on other important aspects of your business.
The truth is that data entry and processing is highly time-consuming, whether it is done automatically or manual. So, instead of sitting in front of your computer all day entering your business-related data into your computer, you can outsource this role to a trained professional to work on your behalf.
Another important non-core responsibility that every startup should look at outsourcing to a competent professional is their payroll system and processes. According to several studies and research, small businesses in Australia and the world over spend billions of dollars every year in fines, as a result of incorrect filing of payroll details. You will agree with us that payroll is a time-consuming task.
If you have about 20 employees on your payroll, you have to calculate your employees’ wages, bonuses, paid leave, and all manners of allowances, which may take up your time and you will not have the time to concentrate on your major responsibility of growing your business to the next level. But if you outsource payroll responsibility to a third party, you will have time to source for new business ideas and also expand your business operation.
#3. Financial Planning
Financial Planning planning is also another great area that you should consider outsourcing to a competent hand. When you outsource this aspect of your business, you are sure of getting the best financial guideline that may lead to your business expansion, as well as the growth of your organisation. A third-party with vast years of experience in the business will help you with things like Financial Planning, budgeting, forecasting, cash flow analysis, MA, pricing, and lot more
#4.Social Media Marketing
Since the advent of the internet, so many businesses have jumped on the bandwagon to not only generate leads but also scale their sales and bottom line. If you are just starting a new business, you can leverage social media to source for clients all over the world. Social media can also help to improve your sales and increase your overall income, but if you do not have the required skill to develop Facebook adverts or write compelling sales pitches, you will find it difficult to use social media platforms to generate leads.
On that note, your best bet will be to outsource social media marketing to a competent company. That way you will benefit from social media platforms like Facebook, Instagram, Twitter, YouTube, and so on.
In the ever-busy economic climate that we find ourselves in, the essence of research to a business cannot be overemphasized. Full scale research can help a business to identify new areas where to invest money to make quick returns on investment. Research can also help businesses to identify potential clients with money bags that are ready to invest in a startup to quickly grow the business from where it is to the next level.
However, research is a time-consuming process and it’s not something a startup should go into. Your best bet is to outsource the research and development part of your of your business so that you will free up time to concentrate on your major responsibility.
#6. Human Resources
The truth about human resources management is that it is not only time consuming but it is highly overwhelming. Whether it is running recruitment, managing personal issues, detailing compensation and benefits, providing outplacement services, or drafting employee policies, human resource management can take a lot of your time; thus, depriving you of concentrating on your major responsibility. Outsourcing your HR department or HR functions to a competent HR company can save you money, time, and also help to boost your business growth in real time.
#7. Web Design/Site Management
Lastly, another non-core responsibility that you should consider outsourcing is your website management or website design. A well-crafted website is highly time-consuming, so if your business is not offering website management as a service, it is better you outsource your website management to an IT company so that you can concentrate on the important part of your business. A competent company can help you manage your website so that your company will maintain a strong presence online without having to spend a lot of money.
Before you look to identify a non-core responsibility to outsource, you should first of all define what your business process looks like and what functions you would like to outsource. Once that is done, ensure you research the outsourcing company you want to outsource that function to, because once you get it right with your outsourcing company, you are one step closer to growing your business to the next level.