There are some aspects about running your own business that are great, and some monotonous tasks that are less so. You may enjoy the creative aspects of being your own boss, whether that is problem-solving or figuring out a new way to increase your income stream, or perhaps you just enjoy the fact that you receive the financial gain for your efforts. Whatever floats your boat, there will be parts of being self-employed that sour the experience – and that goes against the grain of what entrepreneurship is all about. After all, being an entrepreneur is all about multi-tasking and spinning plates.
What can you do?
The buck stops with you. Your lack of enthusiasm for certain aspects of your business may be hampering its potential growth, and that is always your number one objective. So, do you accept that your profit will be a little lower than forecasted while you delay completing these tasks, or do you outsource?
Outsourcing is an obvious solution to getting your business back on track. You may not feel comfortable delegating work to outsiders, but the benefits that it can bring to your business are varied:
- Increase efficiency
Time is money, and while you sit procrastinating and twiddling your thumbs, you are wasting time. Outsourcing allows you to get on with the work that you do best and allows you to focus on the more core aspects of business rather than peripheral activities. The time that it takes a professional to complete tasks will be far less than it takes you, meaning deadlines can be brought forward.
- Increase quality
While your skills may allow you to complete tasks to a certain level, if you outsource, the work will be undertaken by professionals who know the business requirements inside out and can manage any risk in their area of expertise. If there are ever any errors or mistakes made, you can refer back to them to rectify – you have passed the buck.
- Level the playing field
While your business may compete with larger firms, you will not have the variety of in-house skills as the big organizations. Outsourcing allows you to access the expertise that the big firms do which levels the playing field between you and your competitors.
If you are struggling to think of tasks to outsource within your business, read on:
- Increase conversions
You may be troubled by the number of visitors to your website and the resulting conversions that you get. While you can sit and experiment with different ways to increase your conversion rate, this takes time, and such lost time equates to more lost sales. Instead of wasting precious time, instruct one of the web design companies in Cincinnati to take the strain. They will be able to make a site that is optimized for SEO purposes but also make it more customer friendly to turn visitors into consumers.
- Customer support
Your business is only as good as its last sale, and while you may be on top of the operational side of your business, occasionally mistakes can occur. While it may have taken you years to get your business where it is at, but a customer’s loyalty can be challenged if they receive poor customer service. You can hire a virtual assistant or even enable a Live Chat support on your website by outsourcing this role. This could make the difference in a consumer from completing a sale because of extra information they receive or turning elsewhere to meet their requirements.
While you are driven by the health of your bottom line, calculating it is a time-consuming exercise. You will have an accountant to help you with your tax returns and tax advice, but why not outsource your bookkeeping duties to a professional that you can use monthly to keep your figures up to date. You will be able to review the ballpark figures without having to input all the income and expenditure into spreadsheets yourself. This way you will be able to keep up to speed with your finances without spending time that you could otherwise spend growing your business.
The one fact that all entrepreneurs agree with is that there are never enough hours in the day to make your business the best it can be. You want to devote time to driving your business forward, and not delaying in building on its success. Outsourcing gives you the opportunity to focus on the bigger picture to hit your targets, accomplish those goals, and increase profit.