A small business typically operates on a small budget, so it’s logical to approach expenses by asking, “Can I do this myself and save money?” It’s a smart approach that you can apply to many areas—but there are three key operational parts of your small business that make more dollars and sense to outsource.
You can’t manage what you don’t measure—and you’re going to be too busy starting up your business to focus on everything you must track to understand the true cost of operations. And, unless you have an accounting background, do you even know what you should be tracking?
Successful small business owners take a cue from top Fortune 500 companies and stay focused on core competencies. You may not have the budget for a bookkeeper—let alone a CFO—but you should invest in outsourcing your company’s accounting activities.
Consider using a cloud-based accounting system like Intuit QuickBooks. Financial experts will tell you that good accounting starts with effective organization. You don’t have to be an expert in this area. QuickBooks takes care of organizing things and letting you know what you should be tracking.
This financial powerhouse productivity suite connects with your bank to automatically import and categorize transactions. For everything else, QuickBooks syncs with popular apps that’ll allow you to record business-related receipts by simply snapping a photo of it with your smartphone.
One of the most powerful parts of QuickBooks is its ability to invoice and accept payments that are deposited directly into your business account. This outsourced accounting solution offers a free trial, along with a tiered level of services that match the complexity of your business.
Unless it is your business, cleaning is something you just won’t have time for. The choice is yours: would you rather chase dust bunnies, or customers? You’re likely to have only a small office area representing your small business. The investment in an outsourced cleaning service will match it.
We’re judged by appearances, and cleanliness is a clear indication of professionalism. This is especially important if customers come to your business. You want the first impression to lead to a buying decision. While it’s true that general neatness and helping to keep things tidy is the responsibility of everyone, it’s still worth your while to hire a cleaning service.
Outsourcing cleaning helps you and your employees focus on tasks that are of much higher importance. At the same time, it supports the investment you’re making in the physical location of your business. There’s a cost associated to everything from your office furniture to the restrooms. Make its maintenance and upkeep the focus of someone who specializes in this.
This is often an area where small businesses just starting out don’t give the appropriate amount of time and attention. To be more specific, they’ll go about it lopsidedly—and get similar results.
It makes sense that you should know everything about your business, but expertise isn’t helpful if you’re unable to communicate your value proposition to customers. The reality is that you are far too close to your own business to subjectively look at it as an outsider—and that’s crucial if you want to create marketing that will resonate with customers.
People aren’t just buying your product or service. They’re buying why you do it. Communicating this isn’t as simple as you might think—especially if you’re new to marketing. Social media marketing makes it possible to quickly and inexpensively market to people who are ready, willing, and able to buy your product or service—if you know how to use it correctly. Is figuring out Facebook and Instagram the best use of your time when you’re just starting out?
Starting a business launches a short and specific window of opportunity for success. The decisions you make on what to focus on during that window will contribute—or detract—from your ability to profit and grow.
Stop to think about the actual return on investment. What’s your time worth? As a small business owner, do you know what you would have to pay yourself if you were an employee? Compare that figure to the cost of hiring a cleaning service. It just might change your perspective on what you should be doing yourself.