Launching out to the sea of entrepreneurship can be exciting especially after looking at the possibility
of success of taking the bold step to be you own boss. Days, weeks and months go by and in no time the business either phases out or continues to struggle in its existence. In times like this, statements like “This sector is not productive”, “I figured wrong when I chose this path”, “Why are others making it and I’m not?” and more become business anthems. In the bid to operate your business from the passion front and also attend to other needs of the business, productive time is lost which equates to loss in money.
For example, Grace started her fashion designing business in July 2015, with the basic adequate capital required (money and equipment). Before starting, she figured that in 6 months she would have started a fashion training program for enthusiasts, moved to a better location, gotten a chunk of improved clientele, and very importantly make more money. However, 9 months after startup she has been unable to achieve any of those business goals because she literally does everything her business requires to keep existing – run all business errands, balance her own account books, maintain her social media platforms, sketch designs, etc. She is just able to afford the rent on her shop space and cater for her basic needs aside from the business needs. In fact she has begun singing the anthems mentioned earlier. Outsourcing to a business nanny actually would solve the problem Grace has. She thought about it when starting up but figured it would be too expensive for a new business.
Outsourcing is the economical way for small businesses and start-ups to get more important work done less expensively in a period of time. More small businesses are utilizing more time and saving money by outsourcing non-core functions to business nannies, formally known as virtual assistants. The Virtual Assistants make your business run easy and stress free. Their services provide you with lots of time to run your business with passion and utmost concentration. Outsourcing does pose some potential risks including vendor incompetence, poor communication, abuse of classified business information, etc. Most of these problems can be avoided with a carefully planned approach to the outsourcing process.
Basically, outsourcing involves using an outside vendor to do something you would have traditionally done yourself if you had the time and expertise. For instance, it makes sense to hire a financial expert to put your business financial books in order in a very short time instead of taking out time to learn the process and know-how of doing it on your own. Also, its best to hire a web designer for the creation of your website than doing it yourself. The time you will use in learning a new skill which is a far cry from your basic business passion can be used to improve on your already and naturally known business skill and save you lots of time.
The benefits include:
1. Small businesses with outsourcing have access to experts which would not just provide the service they are hired for but also give professional advice as it regards your business.
2. It provides you with time to focus on your core business and even improve on it.
3. Outsourcing improves the morale of your employees, as they will prefer doing their essential functions for which they were employed rather than being saddled with the responsibility of learning new functions and doing them.
4. Small businesses can get access to experts for a much lower cost by outsourcing than by hiring as a number of businesses share the cost of the expert’s training and resources.
Tips to reaping the benefits of outsourcing
Compare costs: Calculate how much doing some tasks costs you now and how much it is likely going to cost if you go on with outsourcing.
Define your goals: Figure out exactly what you want a virtual assistant to accomplish before consulting one.
Start small: Do not outsource every task; start gradually with one or two simple tasks and use references to find the right virtual assistants. Asking other entrepreneurs can provide you with a list of reliable virtual assistants.
Evaluate prices: Be aware of the acceptable charge rate for the service you are outsourcing. This way, you don’t get ripped off easily.
Trust your gut: Avoid virtual assistants who make you uncomfortable, regardless of their flashing reputation. You should be able to relate to the people you deal with and they should understand you and your business.
Demand flexibility: Do not go into a contract with a virtual assistant that will force you to pay for a way higher level of service than you are receiving.
Read the fine print: Be sure to understand the outsourcing contract especially who owns the work produced, conflict resolution provisions (contract breach penalties), escape clause, and incentives for good performance.
Aspects of business that are usually outsourced include accounting/financial management, administration (online and offline), publicity, marketing (digital and analog), deliveries and business errands, web designing, etc.
Hire a business nanny today for your business regardless of its size, it will help your business run effectively and save you more time to achieve your business goals.
Make 2016 your best year yet! Spread the word… It’s a #Deliberate2016.
Osatohanmwen Omwanghe
Director, Biceps NG
osato.omwanghe@gmail.com
+2348130910375
Photo Credits: Google Images
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