Myth: Outsourcing is for big corporations with bigger budgets.
Reality: Outsourcing is for any company or individual looking to save time, maximise the capacity of existing staff and reduce costs without compromising quality.
So why do passionate new businesses built on innovative ideas and a lot of hard work fail?
Lack of funding is a common reason for the downfall of many.
Research conducted in 2022 by Skynova, the online invoicing solutions provider, suggests financial mismanagement as one of the top reasons why small businesses fail. Curious what the other one is?
The other reason is not being able to adapt to the changes in your business environment. As we said in our recent article, the COVID-19 pandemic has led to significant changes in the way we work, communicate, think, and live. Remote work and increased use of technology for communication and collaboration have become the new normal, and there is a renewed focus on self-care and mental health. These changes have been driven by the need to adapt to new circumstances and are likely to continue shaping the way we live and work for years to come. If you’re a serious player who’s having trouble adapting to the new normal, it can be a challenge. You’re dealing with stakeholders who have adapted to the new way of life, so if your business is struggling to change its ways, you’ll be headed straight for a cliff.
What does this have to do with outsourcing?
Once your business is geared up for remote working, the next step can be working with an extended overseas team. When done well, this will optimise your resources onshore and will help to ease financial pressure quickly. This is an ideal option for your small business if you would like to reinvest some of your future labour costs for repetitive, back office processes into higher end, strategic activities that generate revenue and ensure longer term growth.
As with many strategic business decisions, the key to outsourcing success is finding the right partner who is prepared to become an extended part of your team and a key stakeholder to your progress. This kind of partner will contribute directly by helping you release capacity effectively with a competitive edge in an ever-changing landscape. They can guide you in adapting to new ways of working by streamlining operations and tackling issues with skills and management, which will boost productivity and therefore, growth.
Picture this: You walk into your workspace on Monday morning with a smile on your face, knowing that your virtual assistant has taken care of emails and meetings, your outsourced finance team has taken care your cashflow concerns, and your overseas digital marketing team has made sure your social media is delivering momentum and visibility. All your operational departments are running smoothly with the help of your outsourcing partner, leaving you with more time to focus on developing your product and providing your clients with a personal touch. You enter your weekly sales meeting and each of your departmental leaders is ready to present robust numbers, and to discuss their strategic growth plans, because your outsourced team have created headroom for strategic thinking and provided action-oriented dashboards that inform decision making.
Having said that, it’s not easy to find the right outsourcing provider.
On that note, we have great news. POP & Co, a global team who will act as your innovative operational solutions partner and help you to unlock the full potential of your business. We work with startups and SMEs across 5 global regions as their trusted outsourcing team.
What sets us apart is that we understand both the distinct needs of smaller businesses as well as the best parts of how larger companies operate. This means we can really help SMEs to fully grasp the benefits of outsourcing and make the most of their limited resources, adding real value to their operations.
If you’re keen, drop us an email at email@example.com, and we would be happy to take you through how we work, how your business can outsource to us and grow to reach its full potential.