If your home based business is growing past the point where you can effectively manage it on your own, it may be time to hire some staff. Before you take the plunge into becoming an employer however, consider the outsourcing alternative.
Outsourcing is a lot like having a staff member without the commitment. Perhaps the best part of all though is that you don’t have to consider the abilities of a staff member when you need help in the business, you just have to decide which duties you can pass off to someone else. Foreign companies which serve businesses in the United States provide low priced labor and in some cases, the government provides financial assistance if you outsource.
Any third developing country like India, Pakistan, Bangladesh, and others can take on your simple tasks such as answering phone calls or providing customer support. Other than providing low cost services to small or home based business, this helps give your company a competitive edge by keeping your costs lower while offering service and support 24 hours a day, 7 days a week.
People may be against of sending business work to other countries as it may reduce the amount of work in our homeland but the fact is that it is not possible for a working organization to deal with its business at this high cost structure when they can easily find the same results for a low price elsewhere.
Outsourcing is a great way to keep your business running as it can cut down on money spent. While many argue back and forth about outsourcing, we need to look at it from the perspective of a small business owner. Most of us will not go to the store and buy a product that costs three times the amount of a cheaper product that is just as good. If that’s the case, why should a home business owner use workers in one instead of shopping around for people who do great work at an affordable price?
How to Make More Money By Outsourcing
If your home business has been operational for less than a year and you’re already at the top end of your profits laid out in your business plan, you’re probably wondering how you can make more money without spending twice as much time in your business. What steps or decisions can be taken to increase your monthly profit income? The answer is as simple as outsourcing. This is simply divvying out half of your workload to temporary employees or service providers who may or may not live in your area.
As you’ll see many of the smaller, third world countries have staff that have a strong command of the English language (or whatever language you and your customers use) to make or answer phone calls, post correspondence or run your promotions. Outsourcing can be performed from and to any part of the world. If you’re looking for something a little more personable for your business, you can outsource by hiring a virtual assistant. You don’t need to do outsourcing just for the things that you cannot complete. You can use outsourcing as an effective tool in managing your time and your businesses operations.
By outsourcing to people within the same industry as you, you can easily multiply your business profits.