Outsourcing is the process of hiring external parties to perform time-consuming and complicated tasks instead of using full-time or part-time employees for it. It’s a cost-effective way of getting things done without spending too much time or money on it.
For business owners, this not only saves them money, but lets them focus on their core competencies. It’s a great way of streamlining a company, no matter how big or small it is. If that sounds appealing, you might want to know the various areas any small business can outsource.
While there are multiple options, three have proven relatively popular. It’s worth diving into them.
Areas Any Small Business Can Outsource: 3 Popular Options
1. Cyber Security
You’ll already know to keep your company secure, so you would’ve put a decent amount of effort into physical security. Alarms, cameras, and similar options will all be part of this. You’ll also need to worry about cyber security, though. It could be much more important than you’d think.
It keeps your and your customers’ data safe, after all. It can be a complicated area, though, and needs to be constantly looked after to prevent hacks and thefts. It’s worth choosing an experienced professional to look after this, which is expensive if you hire them full-time. Outsourcing makes it much more cost-effective.
2. Social Media
Social media is a fundamental part of any marketing strategy, but it’s often a time-consuming part. If you want to see results, you could end up spending countless hours on it. You can avoid that by outsourcing your social media efforts while still seeing results.
With a white label social media management company, you shouldn’t have a problem seeing a decent return on investment for your marketing spend. There’s no reason not to outsource this area.
3. Telemarketing
Telemarketing is the act of reaching out to potential customers and trying to persuade them to buy from you. With how many calls that could need to be made for this to happen, it can be a time-consuming process. It’s also a costly one, as you’ll need multiple people to man the phone lines for you.
Outsourced telemarketers take care of this for you, and you’ll pay a fraction of the cost. You’ll not only save money with this, but make sure your calls are made to the right people. It could end up being a much more targeted approach than you would’ve realized.
Areas Any Small Business Can Outsource: Wrapping Up
There are countless areas any small business can outsource. If it’s something your company needs to get done, there’s a decent chance you can find an outside party to do it for you. Some options have proven more popular than others, and it’s easy to see why.
They’ll not only be affordable to do, but make sure everything’s done right, making them quite cost-effective. Telemarketing, cyber security, and social media can all be recommended options for this. They’ll make sure your company runs as smoothly as possible without costing too much.
Are you a business owner wondering why your growth has seemingly stalled? It could be that there are external factors standing in the way of your success. But it could also be something internal, like a lack of resources or inadequate planning. Whatever the case may be, understanding what’s preventing you from reaching your full potential can help you make the necessary changes to get back on track. In this blog post, we’re going to explore some of the common issues that can limit your business growth and how you can overcome them.
Not Having Enough Resources
A lack of resources is one of the most common problems businesses face when trying to scale up operations. This includes not having enough staff, money, or technology to keep up with demand or reach goals. To overcome this issue, measure your current resource utilization and identify areas where more resources are needed. Then create a plan to acquire those additional resources through budgeting, hiring, or outsourcing. It might be that you want to speak to specialists in healthcare capital or your set industry to overcome this too. You may also have to prioritize certain tasks so that you don’t become overwhelmed by too many projects at once.
No Clear Plan For Growth
Another obstacle that might be standing in the way of your business growth is an unclear plan for how to reach new heights. It’s important to set specific goals and develop strategies for achieving them so that you know exactly what needs to be done each step of the way. Start by evaluating your current situation and then create an actionable plan for how to proceed from there — including both short-term and long-term objectives as well as milestones along the way. This approach will help ensure that you’re taking measured steps toward achieving success rather than relying on luck or guesswork.
Inadequate Market Research
If you haven’t taken the time to properly research your target market before launching a product or service, it could be stalling your progress. It takes time and effort to understand customer problems and preferences so that you can tailor products and services accordingly — but it pays off in terms of increased sales down the line. Doing market research will also enable you to better position yourself within a competitive landscape as well as uncover untapped opportunities for growth within existing markets or new ones altogether.
Getting Your Business to Where it Deserves to Be
The key takeaway here is that there are various factors which may be limiting your business success. But if you take the time to identify these issues then you can develop solutions for overcoming them and get back on track toward achieving greater success. Don’t let external obstacles stand in between you and reaching your full potential. Assess where improvements need to be made internally and then take actionable steps towards making them happen With some foresight, careful planning, and lots of hard work, anything is possible!
Every entrepreneur needs a little bit of help managing their business finances—use these apps to make your life easier!
When you’re a business owner, you have more than just a job. Even after you’ve turned off the lights and locked the doors, you are still in charge of making business decisions at all hours of the day. Any entrepreneur understands how the details of your business can pile up until some of your important tasks get buried. That’s why it is so important for business owners to constantly monitor all of the financial details for their business. You never know, one accidentally missed bill could potentially turn into a mess of additional fees and phone calls!
In order to avoid making financial mistakes while running your business, it’s good to have a few tools on your side to simplify your finances. That’s why we’ve come up with a list of handy finance apps that will make managing your business that much easier. We’re covering a variety of different apps that can help you in different branches of business— including everything from getting life insurance to filing your taxes. If you’re looking for some pro tips to make managing your business that much easier, keep reading!
1. Fabric by Gerber Life
Using Fabric you can set savings goals and even protect your loved ones by purchasing no medical exam life insurance
Use Fabric to secure a life insurance policy that works with your budget,
Searching for an app that can help you set money saving goals and get you an instant quote for a life insurance policy? Look no further than the Fabric by Gerber Life app. This app is a powerful tool that will help you set personal and professional savings goals. For example, you can use the Fabric app to set savings goals for a rainy day fund. All you have to do is set your goal in the Fabric app and you can begin contributing to a high yield rainy day fund. As you contribute to your account, you can track your progress and even get suggestions on how you can save even more money. Once you have reached your rainy day savings goal, you are prepared in the case of a slow sales season or any other unforeseen expenses.
Another excellent feature of using Fabric by Gerber Life is the ability to get life insurance without a medical exam. Life insurance is extremely important for business owners. If you are running your business and you are uninsured, there will be no payout to keep the business running in the case of your untimely death. In fact, the financial burden of your business ventures will be transferred to your loved ones. If you don’t have a large sum of money saved in advance, the situation could be financially difficult for your family.
If you are looking to get insured quickly, your best option is to search for life insurance with no medical exam. When you choose to get life insurance without a medical exam, then you are choosing the most efficient method for coverage. While the results of the medical exam can take 6-8 weeks to come back, you can get approved with no medical exam in a matter of days. For a lot of busy entrepreneurs, this time saved between applying and getting approved for life insurance is incredibly valuable.
2. IRS2Go
IRS2Go makes paying your taxes easier than ever before
Get your taxes taken care of with IRS2Go.Image courtesy of RefundTalk.
The IRS2Go app is the official mobile app of the IRS. It allows you to check your refund status, make payments, find tax preparation assistance, explore different tax tips, and more! You can also use IRS2Go to get access to mobile payment options like IRS Direct Pay. IRS Direct Pay offers a free and secure way to pay directly from your bank account. You can also make a credit or debit card payment directly through a payment processor.
When you use the IRS2Go app, you are able to directly access different tax software from your mobile device to quickly prepare and file your taxes. Additionally, IRS2Go can generate login security codes for IRS online services which allows you to retrieve codes through IRS2Go instead of using text messages. This added security measure to make sure that all of your information remains confidential. Plus, you can access important tax information in both English and Spanish.
3. Goodbudget
Keep your business finances in order with this budget tracking app
Easily plan out your expenses using Goodbudget. Image courtesy of Ting.
Goodbudget is budgeting software that is based on the “envelope method”. When you use the app, you make envelopes for all your budgeting categories—rent, loan payments, payroll—and then set aside money up front in each envelope. Then, you can spend the money in each envelope based on categories instead of your account balance. The “envelope method” is a way to plan your spending instead of just tracking it.
Using Goodbudget you can save money for professional purchases by making payments on renovations, raw material costs, or for expanding your team without draining your savings. Having the money to save and actually taking steps to save money are two very different things. Using this app you can plan ahead and save for big expenses months in advance. Not to mention, you can use the app to start setting aside money to pay off debts! Use the Debt Accounts feature to track your payoff progress and see when you’ll be debt-free—all while simultaneously setting aside money for the other essential business costs.
4. Toshl Finance
Keep all of your paperwork and expenses together in the Toshl Finance app
Never worry about losing important reports again. Image courtesy of Toshl.
Toshl Finance is an app for small business owners who want to keep their expenses under control and all of their important documents in one place. You can use the app as a budget keeper, bill organizer, or an expense tracking tool. Toshl Finance can also be used to monitor expenses under the same account, filter budgets by categories, export PDFs, spreadsheets, Google Docs, and CSV reports.
If you deal with international clients or suppliers, then there is another feature of Toshl that you’ll find appealing. The Toshl Finance app includes support for 165 currencies with real-time exchange rates. That way, you can track your expenses in any currency you deal with regularly. The app also offers cloud syncing, so you don’t have to worry about losing spending histories. Overall, the Toshl Finance app clearly displays the info providing charts, expense locations maps, graphs, and notifications through a user-friendly interface. Make sure you never lose track of your expenses using Toshl!
5. Venmo
Make payments and sales using Venmo—an already nearly universally adopted platform
More than just personal money transfers, Venmo can help you run your business. Image courtesy of Paypal.
You’ve likely heard of Venmo before, but did you know that you can use it to help run your business? Venmo offers business profiles, which allow users to accept payments for goods and services. Business profiles are built for individuals, sole proprietors, and registered businesses. When you start a business Venmo account, the account is completely separate from your personal account. This way, you can accept payments for goods and services without any interaction from your personal payments or accounts.
Venmo offers a lot of benefits from their business profiles including the ability to generate referrals among Venmo users, the option to add links and social media accounts to your profile, and the ability to refund customers directly from the Venmo app. Venmo is especially useful for businesses that are just starting out and need a payment processor. However, when your business begins to grow, you may need to eventually upgrade to a different platform. That said, if you are starting your business by selling products directly to customers—like at a farmers market—then Venmo is the perfect tool for your business.
If you haven’t already downloaded these apps to help you manage your business, now is the time to try them out! Starting your own business is difficult enough, so why not consult a few apps that can really make your life easier. You know more than anyone how valuable your time is as an entrepreneur, so even if these apps help you save seconds or minutes this blog will have been well worth your time!
Do you have the feeling that you are trailing behind your industry rivals? You know you need to discover a means to get ahead by understanding meaningful Charleston digital marketing, but you do not know where to begin.
It is pretty simple to fall into this category as a small business owner. But, unfortunately, you do not have the personnel or the finances to recruit a team of strategists who are up to date on all of the latest digital marketing methods and know-how to implement them.
However, this does not rule out the possibility of becoming a powerhouse on your own and leapfrogging your competitors in the process. Knowledge is a powerful weapon, so if you can spare some time to brush up on your skills and learn the latest tricks, you will be in a better position to pick up your weapons and use them against your competitors.
Here, we will look at some of the most effective digital marketing strategies to help you stay one step ahead of your competitors.
Do not try to juggle too many tasks at once.
It can be tempting to throw caution to the wind and attempt to achieve everything at once. After all, you are attempting to reach the most number of individuals possible, right? In other words, you have set up Google AdWords pay-per-click (PPC) advertisements, created accounts on all of the major social networking sites, began working on search engine optimization, created content, and are in the process of implementing an email newsletter.
Your energy has been depleted, and you have been spreading your efforts too thinly.
Rather than attempting to do everything at once, choose one or two things to focus on at a time. Not only will you avoid burning yourself out, but you will also have a greater understanding of what is working and what is not in your business. You want to maintain a high level of consistency.
Going from nothing to becoming everywhere, on the other hand, is just as futile.
You must spend some time considering your target demographic and the social media networks they are most likely to be active on, and then begin by concentrating your efforts on those networks.
If your target audience is just not present on a social media platform, there is no use in wasting your time and effort.
Marketing using influencers Influencer marketing is a relatively new strategy in digital marketing, having only emerged in the last few years. However, it has the potential to be one of the most effective. Rather than directly marketing to your target audience, you pay or persuade essential people in your niche to spread the word about you and your business on their social media platforms.
Generating more customers is a crucial business growth strategy. However, it is easier said than done. But that should not always be the case. Here are practical business growth ideas for small business owners.
Know your customers
The first step is to understand your customers. Know their needs so you can tailor your products and services to meet those specific needs. You have to gain insight into your clients. To make this more manageable, you should personalize your services and ask for feedback. A survey is another perfect way to understand your clients.
Improve your customer service
The customer experience (CX) is fast becoming a crucial factor when it comes to business growth. You have to ensure your customer service is exceptional to retain your existing customers and attract more. When you offer great customer services, your clients are more likely to refer other people to the business.
Leverage the power of social media
Social media has become a very powerful business tool. Increasing your social media presence is a great marketing strategy. Additionally, you can use social media influencers for marketing your brand and promoting your growth. Use this company to build your profile and attract new customers through social media campaigns.
Create a network
Networking is one of the best business growth strategies. Invest your time and money into building networks that will help you achieve the desired growth. Nowadays, business is all about who you know instead of what you know. Networking will allow you to build positive relationships with like-minded people in the industry and beyond, such as David Shulick, who can help with growth forecasts, for example. You can also use your network to gain more customers and experience.
Create and host an event
Creating and hosting an event is a great way to promote your brand and expand your customer base. For instance, you can create an exhibition and invite an industry leader to offer a keynote to your customers. This strategy will encourage more people to interact with your products and services.
Nurture your existing customer base
Do you have strategies to nurture your clients? Start creating lasting relationships with your existing customers to improve the retaining rate. There are many ways of doing this. For instance, you can improve how you stay in touch with your customers. Additionally, you should find new opportunities to increase production to cater to the growing customer base.
Create brand awareness through CSR
Creating brand awareness is essential if you want to grow your business. Initiate community development projects or sponsor a community tournament or event to raise your business profile. Corporate social responsibility is an excellent business strategy to give back to the community and raise brand awareness.
Track your progress
With all things said and done, you should evaluate your performance to see what works and what does not work for your business. Monitor your systems and identify areas that need improvement to boost growth. Accordingly, do not be afraid to try out different strategies until you find what is best for business growth.
Final thoughts
If you are a small business owner, growth should be in your goals. What you do and how you do it determines the success of your company. Give your business a big presence by going online and using social media influencers, among other tips.
As a small business owner, you understand that every dime counts. Cutting costs and making significant savings is one way to make substantial profits in your business. The second most common reason for startup failure is a lack of cash to keep operations running. A prudent business owner will maximize savings while prioritizing expenses.
Every business can benefit significantly from cost-cutting measures; however, startups must go above and beyond to illustrate their financial viability to investors. Here are a few pointers to help you keep track of your finances and maximize your company’s profitability.
#1 Use second-hand equipment where possible
To begin, it is best to purchase used or refurbished equipment, from computers to Roland printers. For a new business that has recently received funding, you must exemplify to your investors some of your wise financial decisions. Pumping money into brand new equipment and machinery can deter investors due to the increased operating costs.
Auctions are a great place to start when looking for used equipment. Other businesses frequently close their doors and end up selling their office equipment at low prices.
#2 Start off digitally
You may be eager to open an office for your new company. That being said, it would be best if you reassessed whether this is the best course of action to take at the very beginning. For example, if your company allows you to work remotely, you can set up a structure that allows you to communicate with your customers and employees. You may also want to consider renting an office space as your company grows.
#3 Make use of open-source software
The use of non-proprietary software is a great and easy way to save money. Accounting, bookkeeping, and payroll management can all be aided by open-source software. One disadvantage of open source software is that it does not provide official support. Critical functions, such as cloud backup, could be missing. Once your business is turning over a decent profit, you may want to look at upgrading the software.
#4 Make use of outsourcing
Outsourcing work can help you save money for your company. You do not have to pay for health insurance or vacation days as you would if you hired employees. Furthermore, because the outsourced staff is typically well-equipped, you are not required to provide them with a phone, computer, or any other work materials. Thirdly, if your work demand decreases, you are free to make changes to your agreement on how many people you use or the hours that they work.
#5 See if you are entitled to any state or government funding
Governments and the private sector are often providing grants and competitions to businesses that provide cordial solutions to everyday problems. Your startup can benefit from such grants and earn more money for capital. A grant can assist your company in acquiring the necessary equipment and machinery for its business operation.
Paying close attention to these cost-cutting suggestions can result in significant savings for your company. There are always risks associated with running a business. As a result, cost-cutting measures can assist you in building your finances in preparation for any unexpected events.
If you’re a small business owner and you’ve started to see continual growth, that’s something you should be proud of! Small businesses are currently playing a huge role in overall economic growth in the U.S, and they have been for a while. The first three quarters of 2014 alone saw small businesses add 1.4 million jobs.
With business growth, however, often comes the issue of “outgrowing” your current workspace. Whether you started your business from home or you’ve always had a small office, it’s never a bad thing to upgrade – especially if you’re adding more employees to your operation.
If you really want to move forward with your business, you’ll need the right space to do so. But, moving to a new location for the first time can feel overwhelming. With that in mind, let’s look at a few tips you can use to make the transition to a new space easier on you and your employees, so you can continue to grow and achieve success.
Set a Budget
As you start looking at new spaces, it’s important to have a set budget in mind. While you consider the cost of the building itself (or the monthly rent), don’t forget about other fees and hidden costs you might face.
Additionally, it’s important to think about any upgrades or renovations you might want to do and include those in the cost. Things like upgrading appliances, putting in new carpet, using roof coating, or even just painting and remodeling can all cost money, so include renovation factors into your budget before you make a final space decision.
Research the Right Locations
You might think you’ve found the dream location for your business, but there are many things to consider aside from the size and functionality of the building.
Will it be easy for people to get to, including your employees, suppliers, clients, etc.? What is the crime rate in the surrounding neighborhood? Are there any other businesses nearby? When you move into a building, you want to become a part of your community as quickly as possible, just like when you move into a new home. If the area around that building feels like a ghost town, it might not be the best place for you.
Give Yourself Plenty of Time
Moving is stressful, no matter what. Even if you have everything perfectly organized and you have a timeline in place, it’s not easy. So, give yourself plenty of time to transition from one building to another.
You might even consider a “staggered” move so operations can continue in your current business space while you slowly integrate more employees and equipment into the new space. It can make the move easier for everyone and won’t feel as overwhelming. Staggering your move will also have less of an impact on workflow, so you’ll still be able to meet deadlines and work directly with your clients without feeling disrupted.
Congratulations on outgrowing your initial business space. Keep these tips in mind to make your growth easier, so you can focus on an upward momentum, instead of getting tied up in the details of a building.
Although online businesses have major advantages over real-world businesses, they still don’t have the charm of a retail store. A brick and mortar store is something you can touch, see and smell. It’s a bit of an experience for customers as they walk in and absorb your business for the first time. However there are inherent weaknesses to a real-world store also because it has to stand tall against the elements. That’s one of the biggest worries that small business owners have. How they will fair in a situation like Hurricane Katrina is always in the back of their minds. Thankfully however many things have changed and we are seeing new ways of protecting your business from such an event. Bear in mind that sometimes you just cannot avoid some damages as mother nature is all-powerful. But here’s how you can make a start.
Tying up loose ends
The number one way storms hurt businesses in the real world is through projectile damage. This is when the storm winds are so violent that they pick up lightweight objects and hurl them at your storefront. Things like sign stands, loose objects like trash cans and products that you showcase outside can turn dangerous. So avoid any of these sorts of happenings you can move everything inside quickly. Store the racks and signs in your storage space or just leave them closer to the exit so they’re easier to get back out again. Another thing you can do is to fit storm shutters so they can quickly be deployed and protect the entirety of your storefront.
Gutter and fold
Awnings are especially vulnerable to storms as they are essentially sails in the wind that get picked up or blown flat off their hinges. However the sudden increase in rain is also a concern because the build up is not usually taken into account. Awnings are not really designed to take many liters of rainwater and still be left standing. If you do suffer such damage you can contact a professional awnings repair company and keep the same awning you have but just have it fixed up. Obviously, it’s far cheaper than replacing it by buying a brand new one. They can also reinforce the awning with storm resistant measures such as bolstering the joint supports and using better materials. You can have a word with them to get your desired style as well.
Regular sweeping
Wet carpets during storm season are a pain to walk on. They also bring inside the store a bad smell as grit and dirt are sunk deeper into the weaves. Therefore the simple way to manage the incoming water is to just send an employee to regularly sweep the water away from the front of the store. This will also limit the chances of a customer slipping and being injured from water inside your store.
Any real world store has to make sure it is protected against storms. The wind damages windows and entrances of stores by hurling loose objects at them. Bringing signs and products indoors until after the storm can avoid this altogether.
Growing Forward 