3 Advantages to Outsourcing Parts of Your Job as a Small Business Owner
When you are a small business owner, wearing all the hats is often a necessity. You have to be an accountant, a marketer, a salesperson, and more. However, there are some tasks that are better suited for outsourcing. What does outsourcing mean exactly? Outsourcing is the process of delegating work to a third party. When you outsource, you can take advantage of the strengths that other people have and focus on what you do best - running your business! Today we are going to discuss three advantages to outsourcing parts of your job as a small business owner.
Advantages to Outsourcing - Expertise
When you outsource some of your business tasks and projects, you are establishing a team of experts who are passionate about their work and are constantly improving their skills. This means that they can get the job done more quickly and efficiently than if you were to do it yourself.
For example, if you're trying to plan an event or coordinate the travel arrangements, it would be much quicker and easier to hire someone who specializes in those areas than to figure it out for yourself.
Not only will they be able to get the job done more quickly, but they'll also be able to do it at a higher quality because they're passionate about it, have specialized knowledge, and are dedicated to doing daily.
As a small business owner, your time is precious and it is important to use it wisely. When you outsource tasks that someone else can do just as easily, you free up your time to work on the things that only you can do. This could be working on the strategic direction of your business, developing new products or services, or networking. By outsourcing day-to-day tasks like calendar management and data analysis, you can focus on what is most important to growing your business.
Lower Labor Costs
One of the main advantages to outsourcing is that it can lower your labor costs. This is because contractors and virtual assistants (VAs) often cost less than employees. Hiring and training a new employee can cost 30-50% of their salary according to Bean Ninjas. Training of a VA or virtual executive assistant (VEA) is very limited. This training is more of a discovery conversation than the hands-on use of tools.
Outsourcing also means less overhead for your business. You don't have to pay for things like computers, office space, and so on like you would for an employee. Plus, employees are still a part of payroll even when they call out, and you are paying taxes and benefits if they are there or not. With outsourcing, you know your fixed cost and the deliverables you'll receive. Your VA can take a day off and still deliver as expected by the deadline. Whereas if an employee takes a day off, you might not see them again!
Hiring vs. outsourcing becomes a bigger consideration as you continue to grow and scale your business. By taking advantage of a VA in the early building of your business, you can strategically plan to hire a team member down the line. With Elevate Virtual Business Solutions, we'd hate to see you go, but we’ll celebrate with you that your business has grown! Once you find your new team member, we will be beside them to onboard and explain the job functions we have completed in anticipation of their new arrival. We then support them through the transition and completion of your contract with us.
Improved Focus + Productivity
Outsourcing can help you focus on what you're good at and delegate the tasks you don't enjoy or that someone else could do better. This way, you can focus on your zone of genius and be more productive. You might find that there are some things you're doing in your business that you're not passionate about.
By outsourcing these tasks to someone who is excited to do them, it will free up your time so that you can focus on the tasks that matter most to you and move your business forward. Remember, just because you're good at something doesn't mean you have to do it all the time.
For example, if calendar management bores you but recording a podcast excites you, then outsource your calendar management to us so that you can focus on your podcast guests. With regularly scheduled meetings, we will keep you updated on everything going on. This way, you can focus on generating new leads and sales without worrying about tasks like document organization and tedious research.
When you outsource, you can also take advantage of having someone available to work during different hours than you. For example, if you're in the Pacific Time Zone, working with someone in the Central or Eastern time zones means that they’re getting hours of work done before you even log on every day!
Overall, there are many advantages to outsourcing parts of your job as a small business owner. It can save you time, money, and help you focus on what's most important. When done correctly, outsourcing can be a key part of your business growth strategy. Do you currently outsource any tasks in your business? What advantages have seen to working with a Virtual Executive Assistant?
When you are ready to find the right virtual assistant, reach out to us. We have a range of VAs who are ready to support your business growth strategies.