5 Things Small Business Should Consider Outsourcing
Small business owners often try to do too much for themselves
Did you realize that some things are better outsourced? There are some very compelling reasons NOT to try to do everything yourself - sometimes those menial tasks can take time away from what you are really good at (and what makes you the most money!)
Check out these five tasks you can easily outsource, as brought to us by Sujan Patel - https://www.entrepreneur.com/article/277914. We're particularly fond of #3 and #5, since they fit into what we at EXTO do for our customers!
(Note: although much of this comes from Sujan Patel's article, it has been edited for length).
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1. Content marketing
Content marketing is the use of easy-to-digest content that is designed to educate your target audience without being too "salesy." The objective is to generate leads, but content also nurtures the relationships you have with those leads to improve your chances of closing a sale.
“Best way to sell something -- don’t sell anything,” explains Rand Fishkin, founder of Moz.com. “Earn the awareness, respect and trust of those who might buy.”
Rather than spending your time producing and distributing content, or hiring a marketing team to tackle it, I recommend outsourcing it.
You can start small by hiring a freelance writer, or you can employ an agency. Both options will save you money, and help you build better relationships with your customers.
Research from the American Psychological Association shows that when you multitask, or manage multiple projects at once, you can experience a 40 percent drop in productivity. Your projects take longer to complete, and you increase your overall stress levels.
“Juggling is an illusion,” writes Gary Keller, chairman of Keller Williams Realty. “In reality, the balls are being independently caught and thrown in rapid succession. It is actually task-switching.”
On average, multitasking costs the global economy more than $400 billion annually.
You really don’t want to make mistakes when you handle the finances for your business.
I highly recommend outsourcing your payroll, given the numerous requirements, regulations and tax laws. "Payroll" goes well beyond simply calculating the hours of and salary payouts for employees. One mistake with payroll can trigger tax audits and cost your business thousands of dollars.
In 2014 alone, the IRS levied more than $2 billion in fines against small businesses as a result of mistakes, omissions and improper filings.
Rather than handling your own payroll, or maintaining the overhead of a full-time accountant, outsource your payroll to a reliable service.
4. Conversion optimization
Most businesses generate leads through online marketing, and the content you produce works to convert them into leads. According to Search Engine Land, the average conversion rate across most industries is just over 2 percent, with the top 25 percent of sites seeing conversions at 5 percent or higher.
There’s a lot you can do to improve your conversion rate, but it’s a time-consuming process. Depending on your business model and margins, even a small lift in conversions can add tens to hundreds of thousands or more in annual revenue.
Instead of trying to manage, test and track the continuous cycle of changes, you should work with an agency that specializes in conversion optimization.
5. Scheduling and administrative tasks
It’s easy to get bogged down in dozens of small tasks that eat up your time each day. As a small business owner, you need to focus on your core processes to grow your business. When you hire a virtual assistant, you’re paying only for the hours in which tasks are being handled, and you can eliminate a lot of wasted time spent on emails, appointment-setting and other repetitive tasks. When you automate employee scheduling tasks using software, you can focus less on busy work and more on the big picture.
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