Outsourcing–Seeing the Signs | Extraordinary Business

How to determine when you need to start looking for an outsourced service provider.

imageOne of the questions that has come up more than any other has been, “How do I know that I need an outsourcing partner?”

The simple answer is that if you are looking at your company mission, vision and values, and you see activities within your business that are not contributing to them – or worse yet, distracting your company from executing at the highest level, it is probably time to look for an outsourcing solution.  Taking this approach allows businesses to focus on “the game” rather than activities that are not their core competency.  For example, some technology companies will outsource their coding or maintenance in order to keep their costs low and to focus on growing the business.  Furthermore, they may outsource activities such as customer service, installation, maintenance and even sales. 

What remains internal to the company is remaining flexible, competitive and forward thinking in the industry.

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Outsourcing–Maintaining | Extraordinary Business

How to maintain highly profitable relationships with your outsourcing partners Buyer's RemorseAnyone who has purchased anything in the past probably has experienced buyer’s remorse – the sense of regret after making a purchase.  When working with your outsourcing partner, that is the last thing you want.  Therefore, you must set and manage expectations, and like you would with your employees, review their work, praise them for their accomplishments or take the appropriate action for not meeting your expectations. Keep in mind – your outsourced partners are to bring their expertise to your business to enable your businesses to achieve some success or factors of success that you could not achieve otherwise.  Therefore, it is your responsibility to ensure that they live up to it.  Here are five ways to ensure you are managing your partners appropriately.

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Outsourcing–Setting Expectations | Extraordinary Business

How to make sure that you are getting the value you want out of your outsourcing partner.

Successful outsourcingThe goal of outsourcing is to take have someone or some firm take over the responsibility of some activity or activities in your firm.  This could be anything from manufacturing to product design to bookkeeping, marketing, etc.. As a result of outsourcing, your firm should be able to state some gains such as:

  • Lower startup costs
  • Lower manufacturing costs
  • Greater efficiency
  • Higher quality of work
  • Greater capacity
  • etc.

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Outsourcing Strategically| Extraordinary Business

The ‘make or buy’ method of filling your business needs.

Outsourced Services“Outsourcing is like a box of chocolates; you never know what you’re gonna get,” could have been a line from Winston Grooms’ 1986 novel “Forrest Gump.”  While businesses consider the idea of working with outsourced partners, many don’t know how much they should be paying for what they are receiving and how to ensure that they are getting value for the money they are spending.

Your job, as a business leader, is to increase your company’s profit.  Bottom line.  That means that your best interest is in focusing on the things that move you closer to profitability, which is the production, sale and delivery of profitable goods and services.  When you have to focus on other things, such as administrative tasks, marketing, etc., you are effectively taking your eye off the ball.  If you are a growing company, you know how essential each moment you have is; time is not forgiving and wasted time cannot be refunded.

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Outsource! Bring in the Pros!

website monitoring

Take, for example, a website:  A company’s website is often the first thing a prospective client might go to when considering doing business with a company.  (According to ZeroMillion.com, a recent DoubleClick study suggest that more than 50% of people will look at a  company’s website before making a purchase decision.)  They’ll look at site … Read more

1+5=25

Outsource tax advisor

In the past, I’ve been a big proponent of doing my taxes myself, but found this year that I wanted to outsource them. Having worked with a number of bookkeepers in the area, I knew what I was looking for – someone who could increase my ability to do what I need to do, without … Read more