As a start-up business owner, it's likely that you've received plenty of advice and suggestions from other people. If you are trying to learn how to start a successful business, it can be beneficial to talk with other people who have gone down the same path. Whether or not you ask for their input, many people are happy to offer their thoughts. Just consider the source of the advice before you decide to put that information into action.
In talking with our clients, we've heard one theme that pops up, which leaves many business owners scratching their heads:
"Don't outsource, hire all in-house employees to handle every task.".
In-house vs. OutsourceStart-up businesses are often tight on cash, and it can get expensive to hire the top talent that you need to manage your business. While there are some benefits to building an in-house team of workers, there are some tasks that are better dealt with by an outside expert.
- Instead of hiring employees who demand high salaries, or low-wage hourly workers with limited skills and experience, some tasks can be outsourced for a better outcome.
- Outsourcing allows you to save money because you don't have to pay wages, benefits, unemployment insurance, and employee taxes.
- Additionally, you receive a higher quality of work when you engage an expert, which can lead to other cost savings.
- As an alternative, you can hire an independent contractor who works just when you need the help, and you don't have to worry about payroll costs.
Best Business Tasks to OutsourceIf you are looking for ways to optimize your business and save on payroll costs, look through your daily, weekly, monthly, and annual business practices. It's likely that you can identify tasks that don't need to be kept in-house. For example, your customer support team doesn't necessarily need to be in-house. You might even find it cheaper to manage customer support through a virtual office and a customer support team that is already in place.
Many business owners realize the benefits of outsourcing their bookkeeping and tax preparation. It can be expensive to employee a full-time accountant, especially since smaller firms typically only need a few hours each week of accounting services. Instead of hiring an in-house accountant, we invite you to contact us to learn more about the virtual business services that are available: (202) 789-8898