4 Ways Outsourcing Saves Your Company Cash

Running a successful business that actually makes a profit isn’t easy, especially right now where there is so much competition in almost every niche. In fact, it’s so tough to make a success of a new business that approximately 80 percent of new companies fold within three years! 

If you want to survive, then, you really have to look at ways of saving money. Outsourcing, although you might not think so, is one of the most effective ways your business can cut costs and save cash. Here’s how: 

You Save on Training 

Training a single employee to work effectively within your business will cost an average of $1,195 according to figures put out by the Association of Talent Development. If you have even a handful of employees who need to be trained, this is a lot. By, then, outsourcing instead of employing the help you need, you can shave thousands of dollars off your budget and rid yourself of the time and responsibility required to train employees to a high standard. 

You Don’t Have to Provide Benefits 

In order to persuade the best talent to work for your company instead of the competition, you often have to provide an excellent benefits package, which includes health insurance, disability and vacation payments. As a small business, you might not be able to afford this, and if you decide to outsource, you won’t have to because the businesses you use to do the work for you will be responsible for all of that stuff.

Cheaper Tech Support 

In this day and age, to be a successful business you need to have a sound It infrastructure in place, and usually that means hiring an expensive tech support team. If you’re looking to cut costs, however, you can simply outsource your tech support to ensure everything runs smoothly. You’ll always have help when you need it, but you won’t have to pay quite as much for the privilege. 

You’ll Save On Space 

If you can’t afford to run a big fancy office space because rent is expensive in your area, or if you’re drowning under the weight of huge utility bills, outsourcing will definitely work for you by removing the need for a big office, or even an office at all if you run the kind of company that can be run completely from home with a team of freelancers to help. Telecommuting is set to be the future of business, and if you get in there early, you’ll incur far fewer running costs and ensure that your business is actually around when it’s the norm instead of folding well under the pressure of excessive rents, utility bills and travel costs. 

Outsourcing Optimization

As you can see, there are numerous advantages to outsourcing. However, you shouldn’t jump in and apply them all. Take an honest look at your business, work out where outsourcing will and won’t benefit you and only after careful consideration should you make the change, free up your cash flow and start building a better business.

I hope you enjoyed this article about ways that outsourcing can save your company significantly. 

Interested in more articles about business outsourcing?

Read My Posts:

- 16 Ways Startups Succeed

 - 4 Signs You Need To Outsource Work

Published by Michael J Schiemer
Owner of Bootstrap Business
Money - Marketing - Motivation
Digital Marketing | SEO | Social Media
Mike Schiemer Builds Better Business

Share This On Social Media:

Official Bootstrap Business Blog Newest Posts From Mike Schiemer Partners And News Outlets