If you’re the owner or manager of a small to medium sized business (SME), then it’s more than likely that your head is spinning with jobs to do, and that your ‘to do list’ is over a page long. If it’s your business, then it’s understandable that you want ultimate control, driving it to be a success or a failure. However, if you try to take too much control then it’s likely that you’ll create a bottleneck, stifling creativity and profitability. Contrary to popular belief, by delegating and outsourcing, you can secure greater results than you currently get. Here’s how.
Experts Provide Detailed Knowledge
Although you may not want to delegate responsibilities to your staff due to their relative inexperience, by outsourcing certain elements to external companies, you’ll be able to gain experienced, detailed knowledge on a subject area.
One area where most businesses do this is through finance and auditing. Many SMEs have an external accountant who comes in to carry out audits and file tax returns. The benefits of this are twofold. Firstly, you’ll be getting accurate information and you’ll be certain that your tax returns are correct, saving you money in fines and admin corrections. Secondly, and almost as importantly, you’ll be freed up to manage the day-to-day running of the business, overseeing things that require your expertise. It’s a no-brainer. Just make sure you look around for the best price.
Free Up Your Staff
However, simply freeing yourself up to manage the day-to-day running of the business isn’t enough, and you have to consider how delegating tasks can also help your staff, giving your business great results in the process.
As your business expands and your product offering grows, it’s likely that your staff will become bogged down in administrative duties. Even simple tasks such as scanning and printing can be incredibly time consuming, so outsource them.
Tasks such as this don’t actually add any monetary value to the business, and instead they take up too much time where staff could be selling the produce you’re producing. Many of the companies offering this service also do it relatively cheaply and, because the staff are out selling, you’ll recoup the money you spend on outsourcing. Again, it’s a no brainer.
To conclude, although you want to keep a tight grip on your business (and rightly so), outsourcing and delegating can be a cost-effective way of securing great results for your business, giving you and your staff more time to focus on your jobs. Isn’t it time you gave it a try?