Wearing all the hats can wear you out! Every small business owner knows what I mean by “wearing all the hats.” In fact, most owners spend more than 50% of their time on administrative duties. Running a business is not easy.
To be as productive as possible you need all the help your budget will allow. So, how do you know where to start? What should you retain and what should you delegate or outsource?
Here are 7 Functions Small Business Owners Should Outsource
1. Managing your finances
Hiring a bookkeeper is one of the first outsourcing opportunities you should consider. They can help you maintain records, pay bills, and build financial reports that are critical to business decisions. Bookkeepers who specialize in small business clients charge by the hour and in most cases can save you both time and money. It is also recommended that you outsource your tax preparation and accounting.
2. Recruiting and hiring
Recruiting new employees can take countless hours – posting, sorting resumes, contacting candidates, interviews, background checks, and more. If you add up the time you spend, you may find that it benefits you both in time and money to outsource to a placement or recruiting firm. Look for one that has experience in your industry and is priced for your business size.
3. Human resources
Human resource functions exceed those of recruiting and hiring. These outsource firms can manage your performance management program, employee handbooks, policies and procedures updates, regulatory postings, updates on state and federal employment laws, and more. They typically have both an a la carte program and packages for full service.
Many aspects of marketing can be outsourced. You can choose to outsource all or just certain functions of social media, digital marketing, website creation and maintenance, advertising, public relations, and more. Find experts that specialize in working with small businesses and are priced for your budget.
5. Legal issues
Every small business owner needs a legal expert they can rely on. These professionals can assist with entity changes and reporting, contract creation and updates, and more.
6. Tech support
This one usually needs no introduction. Unless you are that rare owner that can also fix anything that hums or glows, you already know that you can find a resource to set-up or repair any type of technology that you use to support you or your business.
7. Facilities management
Facilities management includes leasing, repairs, inspections, and janitorial services. All are easily outsourced for an economical price.
Keep in mind that you are responsible for every aspect and the overall success of your business. You must accomplish all the relative tasks on time and on budget to realize the highest level of success. Time and resources become critical. All of us have only 24 hours in every day. As you grow you will realize it is impossible to do it all yourself. Start by outsourcing. When your budget will allow, you might consider adding permanent staff that you can delegate many of these tasks and functions to.
Ready to take the next step in growing your business? Contact us today to discover how business coaching will take you there.