Managing a small business is hard enough, but when put into a hostile economic environment it is even more difficult given the current financial strains. Outsourcing can be one of the most effective ways to minimize these problems because it limits costs while saving your precious time to focus on growth. Below are some tips to outsourcing which we believe can lower your costs and maximize your income, including using the benefits of a Professional Employers Organization (PEO). We hope you find these tips useful:

#1 – Know your strengths

Today we are presented with more resources than in prior generations, so use them wisely! Know your strengths and limitations — what you can do and what you cannot do. This way, you will be able to determine if you need help in the midst of a difficult project. It makes more sense to hire outside of the company to solve problems in the areas of your weaknesses than doing it yourself. Time is money, so spending time in the areas you work most effectively will create greater rewards for your organization.

#2 – Limit and manage

Outsourcing can be a wonderful thing, but make sure you don’t lose control at the same time. Too much of a good thing can create issues when not given proper oversight, so as your outsourcing requirements increase make sure quality control goes along side of it. Customers rely on consistency, so as outsourcing usage increases make sure your products or services are not adversely affected.

#3 – Start small

Don’t make large commitments before you know what to expect. Obviously a huge risk would be to outsource a major area of work to someone you have only received references from. Start by giving the group a small responsibility in the company, and gradually increase if you like the outcome. If they are not what you thought they would be, you haven’t wasted a large amount of time and money.

#4 – Do not outsource strategy

You understand your business and your customers better than most people. Therefore, it would be a mistake to outsource strategic decisions whether financial, marketing, product or executive level hiring. When you outsource, outsource administration and activities not core to your business (like payroll, benefits administration, worker’s comp, payroll taxes, tactical recruiting) but keep strategic decision making in house.

These are just four of the most important strategies that will help your outsourcing business succeed. Remember that there is no single formula for every problem that you encounter in business. Rather, each challenge needs a unique blend of effort, strategy, and patience to bring about the results that you are looking for.

Small Business Outsourcing Success

Did we miss other tips for small business outsourcing success? Do share your thoughts and opinions with us! And if you are in need of a reliable source of outside help for your growing business, iStaffSource can provide valuable outsourcing services for you.

For more information feel free to leave your email or contact iStaffSource for a Free consultation today by leaving your details in the Optin box above!

Image: Self Growth

Image: Smart Accounting Services, LLC

Image: WinWeb