The Basics Of Outsourcing For New Entrepreneurs}
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Submitted by: Ryan Sagabaen
Being part of a startup is exciting, but not always easy. Despite having a good head on your shoulders, there are many mistakes you could make that can cost you your business. Common mistakes that new entrepreneurs make include spending too much, having small profit margins, and trying to do everything by themselves.
Outsourcing can help you avoid these mistakes and avert disaster early on. Heres what you need to know about it.
Whats outsourcing?
Outsourcing is an arrangement where you transfer part or all of your business operations to a service provider. Simply put, you pay someone else to do what you need to get done, or if youre already doing those things, you can expect the service provider to do them better.
Outsourcing contracts may be project-based or long-term. There are comprehensive, full-service packages, as well as packages that let pay only for select services that you need. An array of pricing models are also available – some straightforward, and others, complex.
Offshore outsourcing is the first thing that comes to mind when outsourcing gets brought up, and this type of arrangement has you coordinating with a service provider thats based outside of the country or region.
Popular offshore hubs include the Philippines, where theres a high concentration of service providers and a highly skilled workforce.
However, you can also outsource closer to home. Onshore outsourcing, where you outsource to a company based in your own country, is an excellent choice if offshore outsourcing makes you queasy. Nearshoring is a nice middleground, where you work with a service provider who operates in the same time zone.
What tasks can you outsource?
Just about anything can be outsourced these days, but commonly outsourced tasks generally fall into two categories. The first one is comprised of backoffice tasks that are repetitive and dont require specialized skill or knowledge, but are nonetheless essential to your day-to-day operations. These tasks include, but are not limited to, the following:
Data entry
Accounting and payroll
Bookkeeping
Virtual assistance
The second category consists of relatively high-level tasks that can only be accomplished by workers with specialized skill and training. These include:
Medical transcription
Legal coding
Intellectual property research and documentation
Tech support
Customer care
Whichever tasks you decide to outsource will ultimately depend on your business requirements, and short-term and long-term goals.
What are the benefits of outsourcing for new entrepreneurs?
Outsourcing, particularly offshore outsourcing, is known to reduce costs. This can help you reign in your spending without having to sacrifice the efficacy and productivity of your business operations. Cost savings also allow you to widen profit margins, which can spell financial success for your business.
Lastly, it keeps you from having to do everything by yourself, making a burn-out less likely to happen. This way, you can save precious mental energy on key business tasks and high-level decision-making. Outsourcing eases the pressure on new entrepreneurs, enabling them to take the time to actually enjoy running their businesses.
With a competent service provider on your side, you can drive your startup to long-term success and profitability.
About the Author: Learn more what services you can outsource to Inbound Call Center Philippines . Visit their website at
inboundcallcenterphilippines.com/
Philippine Operations33th Floor, Summit One Tower530 Shaw Boulevard, Mandaluyong CityPhilippines 1552 General Inquiries:Email:inquire@inboundcallcenterphilippines.com (For faster processing, please include your phone number in your email)Number:888 619 9640
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