As business owners ourselves who started off, as you do, with doing absolutely everything in our business, it wasn’t a quick or easy decision for us to start to outsource some of the tasks we have been doing ourselves as part of running the business.
However, we started to meet other business owners who had started to outsource areas of work and could see the benefits they were getting by doing this. Here are just some of them;
- They looked relieved they didn’t have to do certain things which they either hated doing or which the struggled to do (so less under pressure)
- They had more time to focus on other areas of their business
- Those tasks were being done much better than had they been doing them themselves
We were also seeing the benefits our own customers were getting from having us providing an outsourced bookkeeping service for them. We have been saving them time, money and giving them peace of mind. So many times, I have met business owners who, on handing over their paperwork to us to handle their bookkeeping for them for the first time, have visibly relaxed or told me that ‘they feel better already’.
So what’s stopping you from outsourcing functions or tasks that would help you get more time back, a greater level of professional support in your business and peace of mind? These are the 3 key reasons that we often see. Do any of these apply to you?
We get set in our ways
As creatures of habit, we have our own routines and expectations of ourselves. We are often so used to doing things that we don’t think about whether it would be better for ourselves and the business if they were to be done differently or to be done by someone else.
Perhaps we have been doing our own administration, marketing or financial management for so long that we don’t think anyone else could do it as well as us.
So, it’s time to shake things up and really think about it – what am you doing in your business that someone else could do if you allowed someone to help you? What are the areas of your business which you are not as good at which perhaps someone else could probably do better? Why are you doing these things in your business – is it just because you’ve always done them or is there a justifiable reason why you should carry on? How would you use the time you free up by outsourcing?
Loss of control
We see it often that business owners doing their own bookkeeping can be fearful of losing control if they outsource their bookkeeping. However, the reality is that they are in more control than ever. They have someone doing all the processing for them, supporting them, giving them great information and making sure they are up to date. So, this gives the business owner more time to spend on analysing the finances and what it means for the business and a much greater financial control on the business.
This scenario can apply equally to other functions in a business such as administration, marketing, social media, IT support, web design and other business support functions. We have outsourced our IT support and our social media and have felt much more in control with these experts that we know and trust on board to support us.
So, the key to moving forward here is acknowledging that it is not loss of control but a greater control. If you are still feeling cautious, why not start gradually and just outsource one things and see how it goes. For example, some of our clients have just started with our bookkeeping service and have then gone on to outsource more functions like credit control, payroll, paying their suppliers etc.
Concerned about the cost
Cost of course must be a consideration and I am not suggesting for one minute that you should pick up the phone tomorrow and outsource everything in your business. It should be at the right time for you in your business.;
However, before you think – we aren’t ready yet and we can’t afford to outsource our IT, Administration or Marketing, consider the following scenario;
A plumber charges out for his services at £50 per hour and it takes him 10 hours each month to do his bookkeeping which is effectively costing £500 per month. A good bookkeeper is likely to charge around £25 per hour and will take less time – so if they take just 8 hours per month – it will cost only £200 per month. So how much is your time worth? If you converted time saved into servicing your customers or building your business, you will make the money back time and time over.
Particularly where we are doing tasks in our business that aren’t our speciality, they will take longer to complete and you will spend a lot more time researching or trying to find out how to do something. This all takes time away from you doing what you need to do to generate revenue in your business and your time costs you money.
Having experts in your business can also help to save you money. Your bookkeeper will be looking at your accounts for ways to help you save money, your IT provider will be looking for ways to save you money and time through efficient systems and your social media expert will be generating new leads for you which you can convert into money.
So, it’s worth weighing up the benefits against the costs and then deciding if you can now afford to start outsourcing business support functions in your business.
We hope this has provoked some thoughts in your mind as to whether outsourcing could help you and your business. We would welcome your feedback on this blog and to connect with us on Facebook, LinkedIn or Twitter. If you feel we can help in anyway, we are always happy to have a chat – here are our contact details.