Top 4 Outsourcing Functions for a New Business

Top 4 Outsourcing Functions for a New Business

Starting a new business is incredibly exhilarating. You may feel as if you want to be involved with every aspect of the company all the time, but this is not always practical. If you want to grow your business, there will come a time when you realize you need to offload some of the functions that are important but don’t necessarily make you a profit so that you can focus on running the business and making money. Here are the top four functions to outsource when you set up a new company.

Accounting

If you are not good with numbers, then trying to balance the books can be a real headache. It can be a costly thing to get wrong as you may find out that you owe a lot more tax than you know about or that your income doesn’t meet your expenditure. Many businesses fail in the first five years and the main reason for this is cash flow. Bringing in the experts from the beginning means that your company is more likely to avoid going the same way.

IT

IT will have a huge impact on every aspect of your business. Many of your customers will look at your company website before they will do business with you, and they may carry out all of their transactions this way. This means that if you want to make money you need to offer a great-looking website that is easy to use.

You need to keep your IT function well maintained to give your customers a smooth, seamless experience, and to keep track of orders, logistics, and chase payments. If customers find your IT function complicated or you lose their orders, they are likely to vote with their feet and take their business elsewhere. If you are not an IT expert, outsource the role to someone who is and don’t risk your company’s reputation and profits by trying to wing it.

HR

Once you start hiring staff then HR outsourcing makes brilliant sense as the function can be very time-consuming. Outsourcing means that you do not have to get involved with hiring, training, or payroll and someone else can take on the responsibility of complying with employment law and settling disputes.

Reception

This may seem like a simple function to carry out yourself, but you may not always be available to do it. If you are busy fulfilling client orders you may not have time to pick up the phone to prospective clients, or you might be out on-site or driving which can make it impractical to take a call. You could lose a lot of potential business this way. Outsourcing your reception function means that someone is always available to answer the phone and take messages for you and you won’t miss important calls.

Outsourcing these functions means that you will have time to focus on the product or service you are offering. This will enable you to focus on your business and build a stellar reputation in your industry.