Harness the power of outsourcing in your business
Going it alone in business can be a daunting prospect. There can be significant financial and mental wear and tear as you get things off the ground, and you’re learning things you never even considered along the way. It can often be too much for one person, or one small team, to handle. But this is where the power of outsourcing certain key business functions can really make a difference.
Greater focus
When you outsource, you’re freeing up valuable mental space which allows you to focus on your core competencies. Numerous businesses have grown their revenue by outsourcing certain functions so they can focus on new business development or exploring new income streams with existing clients. Common outsourced business functions include IT and accounting, but in the offsite project space – like a construction project in different provinces – this includes outsourcing your accommodation, transport and catering requirements for large teams (something iLodge specialises in).
Lower cost
Outsourcing also allows for significant cost-reduction in the context of having to hire personnel to handle certain (easily-outsourced) tasks. Outsourcing is more cost effective in the long run – you’re not paying for a permanent hire who also requires medical aid and a pension fund – and it will save you from having a bloated permanent staff too soon. When companies are trying to reach scale they can enter a hiring frenzy, but soon find that roles become redundant over time and can even be absorbed into another hire’s portfolio, on top of being outsourced at a lower cost.
Less risk
No business likes excess risk, and outsourcing can be the solution to this problem. Understanding the compliance and regulatory environment (no matter what business you’re in), can be a nightmare. When you outsource functions that deal with compliance conditions, you’re guaranteed a knowledgeable, well-resourced partner. In a lot of instances, outsourcing this area means you’re getting greater experience and expertise than can be achieved in-house.
Fresh thinking
New skills and fresh thinking are also some of the benefits of outsourcing. When we hire, we’re often hiring people that fit a certain mould – whether in their beliefs, education or common interests. This can create an echo chamber when it comes to business decisions and projects. Put simply, ideas and beliefs are reinforced and repeated back to us; there is no new thinking, diverse perspective or (when it comes to a business problem) no new angles of approach. An outsourced partner, separate from your existing business structure, can put fresh ideas on the table and may even have a critical skill you never considered which can solve your problem in half the time.
Outsourcing is resourcing. It gives your business the support it needs as you grow, and puts greater resources, skills and cost saving in your corner.
