This time of year is a good time to look back and reflect on what went well and what could be improved in our businesses.
For me, this next year is about focusing on the things I do well and to rid my diary of those activities which don’t add value to my life or to my business.
I’m looking at outsourcing as a viable option. It struck me that there are many things I’m doing that I could get others to do for me. Whilst it may increase my cost base, I know that the time I save can be invested in business growth activities which in turn will result in higher profits.
In this blog I want to discuss the “pros and cons” of outsourcing – perhaps it’s something which will challenge you to think about how you could improve your business this coming year?
1. It enables small businesses to have the right level of expertise without the cost of employing someone full time.
2. The business pays only for the time they use.
3. Outsourcing costs are variable and can be increased/decreased as required.
4. It enables the business owner to focus on the core business and reduce distractions (something that I’m keen on!)
5. It helps the business respond the change quickly.
1. It still needs managing (just like your employees) – although get a good supplier and it may need less than you think.
2. You don’t have a dedicated resource – you’ll have to accept that the supplier is contracted only to the hours paid.
3. The way you work may need to change – it takes time to get used to a new arrangement.
Collaborative is all about improving profit. I’ve taken the decision that in order for my business to grow, it needs me to do less “billed time” and more focus on growing the business and bringing in the sales. I also know that it’s crucial to manage the finances and keep an eye on the cash – but often I don’t have time to do that.
That’s why I’ve recently launched Collaborative Accounts. The aim of the service is to enable you to truly focus on building your business, whilst our unique business service delivers you an accounts department for a fraction of the cost!
We offer something more than just book keeping and accounts – it’s not just about tapping numbers into a computer – it’s about using that information to drive your business forward. As a client your account will be managed by your own account manager, a friendly expert, who will manage the day to day finances. Plus help you – the ‘business owner – make these crucial decisions that will make an impact on your bottom line.
For more information about how our Outsourced Accounts service can help you improve your well being and your business, click here and fill in your details on the contact page. I’ll phone you back and we can have a chat.
Thanks for reading my blog!