As your business grows you may become weighed down with functions that distract from the core purpose of your business – managing the books, hiring and paying your staff, distributing your products. These functions are important to keeping your business on an even course, and cannot simply be ignored. But how do you regain the time and energy to stay focused on your central purpose? Outsourcing can provide an answer to this quandary. Using a specialist company not only frees up your time, it also ensures that your administrative functions are managed professionally.
Keeping your books in order and submitting your BAS and PAYG on time are necessary evils. But they are also very easily outsourced. Private business owners can sometimes be uncomfortable having someone else with detailed knowledge of their financials. In this case, ask your accountant if they have a bookkeeping service. At MJ Accountants we can provide you with an ongoing bookkeeping service. Give us a call to talk about your requirements.
If you are managing your books in house, then outsourcing your payroll will save you investing in a payroll package to keep track of leave entitlements and superannuation – not to mention saving you hours mired in banking and accounts. Most services will charge between $3 and $4 per person to run your payroll. Look out for the set up costs which can cost anywhere from nothing to $50/person.
The quality of the people you employ is central to the development of your business – so you don’t want to cut corners here. However, hours spent advertising, wading through CVs and interviewing are a distraction from other core business functions – like selling! Outsourcing the recruitment of good staff to a professional recruiter, such as the ETC, will streamline the recruitment process and may also enable you to access talent you might otherwise have missed.
In this day and age you don’t need to limit your thinking to local talent. Online outsourcing through companies such as Freelancer, Elance, oDesk and Guru enable you to find talent around the world. With all of these services you can post job or project descriptions online. You then need to weed through the applicants yourself.
Sydney based Virtual CoWorker takes online recruiting one step further, providing a team of recruiters in the Philippines who will source, interview and shortlist staff on behalf of business owners in Australia. According to founder Braden Yuill, “we find staff to fulfill roles like customer service, web research, web development, telemarketing and bookkeeping.” The big news here is the potential cost saving, with a “virtual” assistant from the Philippines costing $5-$7 versus an Australian with the same skills who would charge $25 to $35.
Warehousing & Distribution
For manufacturers the capital cost associated with warehousing and distribution can be onerous, sucking funds away from the development of your next new invention. Although it can feel good to have complete control of your product right up to delivery to your customer, it often makes more financial sense to outsource the steps post-production. This enables you to focus your attention and resources on product development and improvement.
This is a list of the most common functions to outsource, but it is by no means comprehensive. Whenever you feel that a function takes up an undue proportion of your time or is too costly to undertake on your own given your current size consider the option of outsourcing. Chances are there will be someone out there who can do the job.