According to a comprehensive study by Clutch, the trend of outsourcing among small businesses is on the rise. The study revealed that more than 1 in 3 small businesses have already outsourced at least one business function. What’s more, the study projected that by 2024, over 50% of respondents are planning to outsource more than one aspect of running their business. These statistics underscore the increasing popularity of outsourcing as a strategic business move.
While outsourcing can be a game-changer for your business, it’s crucial to strike the right balance. Strategic outsourcing involves being specific about what you outsource and retaining control over key business functions. Handing over too many parts of your business can lead to a loss of control, which is the opposite of what you want. It’s important to remember that outsourcing should be a tool to enhance your business, not a means to relinquish control.
So, before you dive down the rabbit hole and get excited at the prospect of no longer handling specific tasks, let’s look at some of the most common business functions outsourced to give you a place to start.
Marketing
Marketing campaigns in 2024 can be extensive and time-consuming. If you don’t have the right resources, knowledge, or expertise to handle a complete marketing campaign in-house, then allowing a third party to take over and carry it out for you will be beneficial. An experienced Marketing Agency will not only be able to see what your company needs and identify your target audience but also work with you to create an effective campaign. This can help you get the desired results without you having to do it all yourself, providing you with the expert support you need.
Accounting
Accounting is typically the central aspect of running a business, and because handling business finances, especially during tax season, can be tricky, businesses often need support in this area. Bookkeeping skills are the number one reason businesses fail, and if you want to avoid falling into this common trap, you need someone on your team who can handle the day-to-day expenses and accounts. Whether you hand over your entire accounting to a third party or have someone doing bookkeeping, credit control services, or expense management only, it’s definitely worth having an expert on your team to help you out.
IT, Website, and Cybersecurity
All three of these issues are intrinsically linked, and you can find experts in all three and more aspects that fall under this umbrella. You need robust cybersecurity to ensure that all of your business information and data is safe and not at risk of criminals wanting to exploit weaknesses in your defenses. However, not everyone is aware of the measures you need to monitor or implement for signs of breaches and to prevent them. Hence, you can have a cybersecurity expert help you put your defenses in place.
In addition, you need good internal IT support and resources to help you improve your operations and keep the business up and running, as well as an effective website. Whether you outsource your website design, maintenance, graphics, theme, content creation, or software for running your business, you can find companies willing to take over all of these aspects and more to help support your business the way you need it.
Multiple aspects of your business can be outsourced. These are just a few more common tasks business owners seek help with to improve and retain standards.
