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Growing Service, Reducing Costs - Outsourcing Secrets

By: Joshua Unseth-- 2010-09-13 3:00 am --

Imagine a situation where a company could increase its service abilities and core competencies, grow its business revenue and reduce its cost structure. Does this sound impossible? Well, it isn’t. In fact, a number of small business owners and entrepreneurs do it every day. They effectively increase their capabilities and grow their business while reducing costs. How is this done and why is it so important for small business owners to know about it? It’s outsourcing and it allows companies to control their day to day operating costs while improving efficiencies and growing sales. Every small business owner must wear multiple hats. Finding the time for all the responsibilities of running a business can often be an exercise in futility. Freeing up that time means more valuable time spent closing on business opportunities. So, what are the best functions to outsource for small business owners?

Outsourced Marketing Increases Business Opportunities
A number of small businesses have excellent products and services, but aren’t able to maximize on their opportunities for sales in a given market. Outsourcing marketing allows companies to control their marketing costs while ensuring they concentrate their sales efforts on qualified leads and opportunities. It allows companies to better control their marketing budgets and expenditures while ensuring they have the time available to close sales.

Outsourcing Payroll Reduces Operating Expenses
Using an outsourced payroll company helps to lower a company’s day to day operating expenses and ensures they won’t be penalized for late or incorrect tax filings. Outsourced payroll companies are tax and government regulation experts and are up to speed on the most relevant tax codes. They manage all aspects of the company’s payroll and will ensure timely deposit of funds by direct deposit.

Outsourcing Accounting Improves Receivables Collection
Keeping customer accounts up to date and in line with their terms can often be extremely time consuming and costly. To alleviate this concern and free up time, a number of small business owners outsource their receivables collection and invoicing to an outside accounting firm. This allows them to benefit from a professional firm able to follow up on receivables collection and address any outstanding issues relating to invoices.

Small business owners must be able to continually lower costs and close on business opportunities. It amounts to freeing up time and allowing business owners to concentrate on business growth. When small business owners and entrepreneurs can concentrate on what they do best, the company as a whole will thrive. These outsourcing functions allow small businesses to reduce operational expenditures and improve service.