Many small businesses have CEOs and other employees who wear many hats. As a CEO, your plate is full with your daily tasks and strategic decision making. You can’t take it all on, and you shouldn’t.
Letting someone else in your company take some of these tasks on, or even outsourcing, can make you a much more efficient and effective leader.
Although outsourcing has a bad wrap, it can actually help you grow your business. When we say outsource, we don’t mean to a foreign company, we mean locally outsource functions of your business that are not in your core competency.
The reasons for this are many. You won’t need to keep these departments staffed and this alone will save you a lot of money. If these functions were falling on employees who have other responsibilities, it is likely that they were less efficient than an agency will be.
Here are 10 areas that you can consider outsourcing:
Outsourcing your finances makes a lot of sense for smaller companies. Your accounting and financing takes a lot of time and care but oftentimes, someone is taking care of this that is not doing this full time, including the CEO. This takes away from their core functions and adds a lot of stress.
Human Resources is responsible for a lot in a company, but again, if you are not at the capacity that you can have a dedicated, full-time HR employee, you should consider outsourcing. If your recruiting and hiring is in a bit of a slump, outsourcing HR can help you shake things up. There are a ton of platforms out there where employees can take care of a lot of this online without taking up the CEO’s time.
Your marketing efforts might be pushed under the rug if someone is sharing this responsibility with other core functions. If you do not have a comprehensive marketing strategy, your efforts could be wasted anyhow. Marketing agencies are plenty in most metropolitan areas. They can handle everything you might need from a marketing standpoint from social media to printed assets to email campaigns and more.
- Content Creation
If you are updating your website with fresh content often, you are on the right track. If it is eating up too much of your time, then you need to rethink your strategy. Content creation is time-consuming. It involves research, writing, and proofreading. Let someone else do this one for you.
- Event Planning
Many small companies host events throughout the year as a way to get their name out, raise money, or promote a product or service. If you have tried to plan an event then you know it takes much more detail work and time than most people anticipate. Event coordinators and planners have a wealth of knowledge you won’t have on the subject because this is what they do. They will be able to help you find the best ways to make the most of your budget and get the perfect event off without a hitch, or any stress.
Doing taxes for your business is meticulous work. When tax season comes, it can be all-consuming if you let it. However, hiring a CPA could save you as much as 30 minutes per week every year (when you average out the time taxes take). Don’t get bogged down by this one.
As CEO, you likely have plenty of management experience. This is no longer your primary function, however. You don’t need to outsource this one, but you do need to let it go regardless. Let you people leaders lead your people while you take care of the executive decisions that need to be made for the company. Sweating the small stuff that should be out of your hands can waste so much of your time and create more work where it is unnecessary.
Some employees can spend up to half of their week on email. HALF! And who gets more emails than you? Let someone else take care of your email and let you know the highlights. Delegating this task can save you hours of time and frustration. Email management can be outsourced and it can make a huge difference in how you spend your week.
Research is often a routine task for companies that like to stay on top of the latest industry trends. This does not have to be one of your responsibilities, however. Anyone in your organization has the tools to conduct some research for you. Let them.
Outsourcing your technology to a local manager service provider allows you to save time, money, and stress. If you are not taking care of the security measures for your business properly, you could be putting your business at risk. An IT provider will know how to stay on top of security, break fix, routine maintenance, strategy, and more. It isn’t your job to know how to code or get your server up and running, so let the professionals take care of it. They are more experienced with common issues you are bound to run across and for them, it will be no sweat to fix, where as for you, it might take hours of trial and error.