Debating what to outsource? I like this one: Outsource your weaknesses
Spending hours trying to balance the books when you’re terrible with numbers is a lousy use of your time and it’ll wear you down.
To be thinking about: Will it move my business forward?
While cost is always a consideration, companies are now outsourcing as a way to develop strategic partnerships and integrate services that they couldn’t provide on their own. For entrepreneurs, outsourcing is a way to propel their startups forward faster and more effectively than they could do it alone or with their in-house teams.
What to outsource:
1. Content marketing
Content marketing is an outsourcing natural. Content marketing includes your website, newsletter, blog, social media, print collateral and PR. It’s everything that’s external-facing, that touches potential clients.
Charged with educating your target audience about your brand and generating leads, this role will also nurture and build relationships and trust. Not sure how this will work? Start small. Hire a freelance writer and start with a newsletter or blog. Having a consistent, smart marketing message will pay off. Give it some time.
2. Bookkeeping
What to say about this one except that you really don’t want to make mistakes when you handle the finances for your business. This is the most logical one to outsource. Find a bookkeeper you like and forget about trying to do this yourself.
3. Payroll
Payroll gets complicated pretty quickly. There are requirements, regulations and tax laws. Payroll goes well beyond simply calculating the hours and salary payouts for employees. One mistake with payroll can trigger tax audits and cost thousands of dollars. Get this: In 2014, the IRS levied more than $2B in fines against small businesses due to mistakes, omissions and improper filings. Find a pro.
4. Conversion optimization
Most businesses generate leads through online marketing, and the content you produce works to convert them into leads. According to Search Engine Land, the average conversion rate across most industries is just over 2%, with the top 25% of sites seeing conversions at 5% or higher. There’s a lot you can do to improve your conversion rate, but it can be an extremely time-consuming process. Even a small lift in conversions can significantly increase annual revenue.
5. Scheduling and administrative tasks
We all know how easy it is to get bogged down in small tasks that eat up our time. I just spent an entire afternoon driving a couple of spreadsheets, trying to synch lists. Probably not the best use of my time. A virtual assistant would have freed me up to focus on more strategic tasks.
