Statistics published by the US Small Business Administration show that 56% of US small businesses have fewer than five employees. What if your staff can’t handle a sudden large revenue opportunity that comes in, let’s say, because of an effective marketing campaign? Hiring more employees may not be the best option for your small business. One sound solution to the imbalance between workload and human resources is to outsource expertise. Here are 3 benefits of supplementing your existing staff this way.
Access a Bigger Pool of Knowledge
In this era of the Internet, outsourcing expertise means you have a wider and deeper pool to fish in for qualified help in a hurry even if you’re just a small outfit. This acts to level the playing field and allows your company to be competitive against big business. You can avail your projects of any desired niche knowledge without having to add a dozen specialists to your staff. This also gives employment to otherwise usually unemployable but skilled sectors of society, such as retired professionals who re-enter the workforce as online consultants and are a goldmine of expertise you might not ordinarily tap.
Take a Load off Your Fulltime Staff
Outsourcing is simply the contracting out of a business process, such as payroll, or marketing, to a third party so that your employees can work on your main product or service, and you can concentrate on growing your small business. It’s also a smart way to add manpower to help out with your core business processes without crowding your office with temps. Outsourced work time is like having a full-time employee working overtime without the loss of productivity due to fatigue. Output turnover time for projects is thus reduced.
Lower Cost of Operation
For a small business, the cost of establishing a new department can be prohibitive. But a business cannot expand fast enough without marketing staff, which makes specialized workers a must. According to a Gartner survey, up to 50% of digital marketing activities are outsourced. If you don’t the time to market your business, you can always hire a consultant or two, but we all know they can only do so much advising without doing any of the brunt work. What would work is to hire marketing experts who know their stuff and will gladly do the marketing for you at a fraction of the cost of maintaining a full time staff.
With outsourced expertise, you get more time to do what you need to do in business and the money to help you out. You could be missing out if you haven’t made it a part of your business planning.