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Benefit of Outsourcing Services For Small And Medium Level Businesses

How many times have you heard the buzzword ‘Outsourcing’? Well, it seems like outsourcing has become the latest business trend in national and international market.

So what is this outsourcing business services after all?

Outsourcing a business generally refers to the process which involves working with an external service provider to complete a set of functions and duties. In this technologically connected world outsourcing is possible from any offshore location and for any kind of domain. Some of the main outsourcing processes which are gaining trend now a days are HR management, IT services, Marketing services and others small or mid-level tasks.

Why a business should go for outsourcing?

As the famous Management Guru, Tom Peters once quoted “Do what you do best and outsource the rest!”

The entire concept of outsourcing is not new; it has been here from centuries in varied forms and currently has become one of the most cost-effective methods of business. Outsourcing business services provide a business with some of the most skilled and reliable workforces which allow them to work round the clock and hence increase the efficiency.

Some key reasons to outsource a service are:

• To lessen the operation costs
• To minimize the infrastructural bills
• To enhance the core functions of the company
• To use new technology at minimal cost and not-much-time investment
• To access some of the highly skilled workforce of the world and use their capabilities to improve and enhance operations
• To combat other problems like talent scarcity/gap, seasonal workflow et al
• To improve risk management abilities of your business

What are the Benefits?

Now you know why you as a business should choose outsourcing your services from some efficient third vendor and allow yourself to focus on enhancing core functions of the company. But what are the benefits that you will have once you agree to source a service from some external medium.

Here is the list:

1. Cost Benefits: One of the most obvious benefits of outsourcing a business from external vendor is the financial saving; whether it’s groundwork/infra, human resource, technology or any other, you end up saving lots of cash and also have access to extremely talented workforce at minimal cost.

2. Efficiency Benefit: When businesses outsource their services their efficiency increases instantly. They have exposure to better technology, services, skill and most of all they have a team which work round-the-clock/365 days to help them achieve their business goals.

3. Enhance Abilities of Businesses and Allow Them to Enhance their Core Functions: With ample time and resource, businesses now have to time to focus on other important core functions like brand reputation, customer engagement, research and development and providing high value services.

4. Cost Saving on Infrastructural and Technological Investments: Another great benefit of outsourcing is the monetary savings that businesses have in terms of infrastructural and technological investments.

5. Access to Highly Skilled Workforce of the World: With minimal cost, you get high results in outsourcing as it enable a business to access vast pool of talent around the world, who knows how to do their job correctly. An external company which provides outsourcing business services employs high end talent to take care of all outsourcing need of business.

6. Better Services: Needless to say that you have access to a better team and hence better services.

7. Round the Clock Work Advantage: Since you have a team which works at different time zone, you can provide round the clock services to your customers and hence enhance your work goals.

Mind Your Business Manners

In business, manners make you money! The concept of etiquette in business is even more important now due to our ever-increasing forms of social media and online platforms. If you are a business owner you always need to remember you are representing your brand no matter where you are or what time of day that it is. As a business owner you have to remember that you are never “really” off the clock.

Having proper business etiquette is something that really takes just a little bit of conscious effort, but it has a big impact on your business. Ever walk out of a mom and pop store feeling elated because the owners took just a little extra time to visit with you, called you by name and remembered some particular facts about you? A polite conversation is such a simple concept but yet can make such an impact on your business.

One simple step to follow is being kind. Like I mentioned above it’s sometimes as small as having a conversation with someone that can make a big impact. I will also tell you that if you make it a habit to be considerate and think of others on a regular basis that it will pay off in spades. And on the other hand if you are not that will go a long way too… Causing you to be remembered in an unflattering light. And remember if you have employees this is big for them as well. Do you think I will ever call the plumbing company whose employee (owner) was in a branded truck and used an inappropriate hand gesture? We’ve all experienced that a time or two.

Another thing that is commonly forgot is the follow up and RSVP. This may sound trivial but it’s one of the most important aspects of etiquette in the business community and one that is seriously forgotten at items. I don’t think it’s intentional that we sometimes forget to follow up or to RSVP. We just live in an extremely busy world where things are happening at lightning speed. Here I advise you to keep a note pad near you at all times to jot down those things you tell others you will do or events you need to put on your calendar and follow up with an RSVP. If you made a promise or were invited to participate in an event and forgot about it all together or to RSVP until the last possible minute that will be remembered long after the promise or the event.

Just as we were taught in grade school, it is important to be on time. Nothing says rude in business as loudly as not being on time for your appointments. It is plain disrespectful because it indicates that you are not appreciative of someone else’s time. If someone has committed to spend time with you, you need to be respectful and make an effort to show up on time. Recently I was at a networking event where someone was late. I could tell from the conversation of the group that this is very typical for this individual to the point that the group was kind of poking fun at him and when he finally walked in someone made a comment about his tardiness. I ask you, do you want to be this guy? His reputation (and not a good one) preceded him. If tardiness is something that you struggle with you should make every effort to improve in this area… for the sake of your business.

Finally, do not forget to express Gratitude. It’s amazing how much a quick verbal thank-you can mean to someone who helped you. We are so busy in our businesses at times that we can accidentally forget to take an extra minute or two to say thanks but these words have such a big impact, making you memorable. One great practice is to sit down at the end of the day and write just one note out to someone that went out of his or her way for you or provided great service. A handwritten note in today’s technological society gets noticed and will sometimes sit around on someone’s desk for a long time, keeping you top of mind.

Start Your Own Business: 3 Considerations

At the moment, there is a trend towards being your own boss, starting your own business, being the master or mistress of your own life in all areas. The world has just passed through another recession and all the certainties of a lifelong job were tested and so now, people venture out into their own thing. Maybe you have the same inkling.

Here are a few considerations.

1. Don’t Quit The Day Job

It is possible to start the business without giving up on the day job. It is possible to become an entrepreneur without quitting everything certain about your life. Most people do like an element of certainty and when you quit your job to follow your dream, it can be tough to keep desperation at bay and desperation is not conducive to creativity or innovation. And you certainly need those things when starting out in business.

Instead, build your business on the side. Make time in your busy schedule to fit in some business activity. It is just a case of rearranging your priorities. This way, you build your business while maintaining some certainty about your income until the business gets to the point where it can support you and yours.

2. Quit The Day Job

Remember there are no rules. You may feel completely certain that your day job is a hindrance to you fulfilling your business dreams. Your day job may be too demanding to keep going while building your own business and so you may choose to take on something less strenuous to keep desperation at bay and then work with focus on your business. Of course, whatever you truly focus on will grow so you may find that this option gets you to your goal a lot faster than sticking with your demanding day job.

The choice, of course, is yours. Either of the above options work. It all depends on your ability to deal with risk.

3. Start Your Business Around What You Love

You have probably already spent enough time doing things just for the sake of the money. So this time, choose to put your passion above your need for money. Building your own business is tough enough without choosing to create a business that means nothing more than income to you. The gurus do tend to split down the middle when it comes to doing what you love. Some will tell you to forget passion and do something that pays you as quickly as possible. Others will say follow your passion and focus until you make money from it.

Again, the choice is completely in your hands. However, you must ask the question “Why leave a job I no longer enjoy to start a business I do not feel that passionate about?” It may seem the sensible thing to do but will it prove fulfilling in the long run.