One of the toughest difficulties when it comes to running a business in 2017 lies in knowing which departments you should outsource. Tasks like termination management, succession planning, corporate culture, employee retention and employee development should at all costs be kept in-house. On the other hand, there are more than a few of the non-core tasks that would be best handled if outsourced. We are not just talking about the reduced cost of operations but about the overall efficiency. Some aspects of your business are best left to the kind of experts you cannot afford to hire or train. This being said, here are four departments you should definitely outsource.
One of the tasks that most companies come to outsource is that of the accounting, and reasons behind this are many. First of all, accounting takes a lot of time, which your own team-members could use on core-tasks. Secondly, hiring reputable accountants drastically reduces the chance of fraud that would otherwise occur and even completely eliminate any fear of in-house theft by your employees.
Finally, if you ever decide to take your company outside of the borders of your own country and establish an international office, it is a good idea to hire someone accustomed with tax-laws of the target destination. Overall, when it comes to whether you should outsource or not, accounting is a definitive no-brainer.
Another aspect of your company you want to outsource is probably marketing. One of the problems that most business owners have is the inability to adequately present their ideas to others, regardless if they are investors or customers. The idea of your business may be so clear in your head, that it may seem completely absurd that someone else might not get it. This is why you can benefit greatly from the outsider’s point of view. Furthermore, with video marketing becoming bigger and bigger, you might want to hire an expert in this field, so that you can rest assured you got the best ROI. In order to teach your team on how to become more effective in presenting your business, you might want to ponder on hiring someone to supervise their coaching and mentoring in this field.
If there is one thing you could learn from all the major brands – it is that outsourcing production definitely pays off. Sometimes your best supplier will be from a different country and the reduction of the price you pay for transportation alone might be reason enough to move your production there. More often, however, labor laws and wages abroad will be much more entrepreneur-friendly, which yet again makes outsourcing worth your while. Sure, some may deem this as unethical and even judge you for not supporting the local market but then again, success is always bound to spawn envy.
4. Legal services
In the end, keep in mind that there are so many reasons why you need a lawyer on your team. For instance, you need someone to handle a workplace injury that just occurred, someone to deal with a copyright infringement you just made or even someone to ensure your patents aren’t abused by a third party. Seeing how this includes a wide array of specific legal services, it might be more appropriate for you to outsource all your legal services to a law firm, rather than to keep one or several layers on a retainer.
As you can see, your business will sometimes ask for its plain pragmatism. All you need to do here is put all aspects of outsourcing and those of handling things in-house and see which of them brings you more. Keep in mind, that handling things in-house usually costs less in the longer-run, however, sometimes, you might not have this luxury of time. While all of this may sometimes sound incredibly complicated, running a successful business was never supposed to be easy.