Is the ‘credit crunch’ affecting your business? Does your business need to save time and money?

As the current economy slows, businesses need to concentrate on their core activities to maintain their market position. It makes sense therefore for businesses to search for creative ways to accomplish more of their goals for less money.

One strategy to help your business save more time, money, and frustrations is to outsource areas of your business to skilled and cost effective external consultants. Outsourcing can add real value and give your business knowledge and expertise to grow more effectively whilst still keeping your independence. The 10 ½ tips presented below will help to give you the confidence your business needs to outsource successfully.

1. Focus on you Core Business

Are you stretching yourself and your organisation too thinly?

Continuous focus on your core business activities ensures a competitive position within the market in which you operate. By concentrating too much on an area of the business which will not become the leading activity you will be neglecting areas which are core to your success.

Outsourcing can help your business shift its focus and redirect its energy from peripheral activities towards work that serves your clients more efficiently.

2. Have a Clear Strategy

To ensure your business will be successful you have to set clear goals and strategies to outline everything you want your business to accomplish. You need to do the same when outsourcing. Set clear objectives and deliverables that you and your business want to achieve. By doing this you will provide the service provider with accurate and complete information enabling them to fully understand the job in hand.

3. Choose the Correct Outsourcing Partner

Choosing the correct outsourcing partner is like choosing a new pair of shoes. They need to be the perfect fit for you, compliment your style and be able to provide the support you need.

You need to spend a lot of time with potential suppliers. Discuss your requirements and understand how their operations will supplement and advance your needs.

Ask them about what products they offer, which clients they have previously worked with, client satisfaction, what the company’s strengths are and how they deal with problems.

Build rapport and trust because if this isn’t there they are not the right pair of shoes for you!

4. Specialised Services

Finding specialist suppliers will improve the quality of your business.

You will be able to find an expert who specialises on core activities, for example, Marketing, I.T and Human Resources.

By outsourcing you will be able to get more proficient services and have access to specialised and skilled experts.

At Size 10 ½ Boots we outsource financial affairs. We outsource this area to professionals who are experts in their field and provide us with a bespoke service which we can't match internally.

5. Increased Efficiency

So many areas need to be considered when considering how to make your business successful. One area that is very important and needs to be addressed is making sure that your business is running efficiently.

Outsourcing can give you an increase in efficiency by allowing you more freedom to concentrate on your core business.

Your non-core business areas which are performed externally will be run professionally, mirroring the core functions which are being performed in-house. By having the two work alongside each other you can achieve increased efficiency ensuring that your clients receive excellent customer service.

6. 1,2,3 Launch

When your business decides to launch a new product do you have to go through mountains of paperwork and checklists before you can start?

By outsourcing to a specialised company who practice in one area, they have the people, tools, resources and ability to act quickly and start new projects instantly. Due to this faster turnaround it saves you time and resources and enables you to offer high quality services and products to your customers.

7. BIG Savings

Are your business costs spiraling out of control?

We all know that in tough economic times we try to cut costs as much as possible. One of the BIG benefits of outsourcing is that you are able to save on every aspect of your business, and at the same time….. increase your profits!!

By letting an external company manage a specified area of your business, you are able to save time, effort, and manpower. You have not got to worry about the burden of making unnecessary fixed investments and changes in infrastructure. You will be able to reduce the cost of manpower due to not having to invest in training and resources needed.

These savings will enable you to increase your revenue and prevent any further spiraling costs.

8. Focusing on Exceeding Customer Expectations

As your client base increases it is imperative that you maintain or exceed the level of service that you provided when you first won their business.

You need to be able to anticipate their needs and wants before they desire them in order to increase their satisfaction and retain their business.

Outsourcing will enable you to focus on your key clients enabling you to answer their every need. They will be able to provide you with faster and more tangible deliverables which in turn will enable you to pass these benefits on to your customers and exceed their expectations. Providing high quality service and products you will be able to retain the loyalty and commitment from your clients.

9. Develop Internal Staff

Having happy, motivated and well trained staff is essential for the success of a business. No employer would be considered a good employer if they did not strive to maximise the potential of every staff member.

Outsourcing can benefit your business in two ways:

1. It allows valuable staff time to be freed up to ensure that the development of their careers is key. It increases the business skills set and helps with the retention of staff members.

2. It can provide bespoke training to your company to meet your specific individual and business needs.

10. Competitive Advantage

Would you like to outperform your key competition? Would you like to have the competitive edge?

Tougher economic conditions are bringing mounting pressures on businesses to stay competitive in the market place. Today you need to become more focused, highly energised and visible to existing and potential clients.

Outsourcing can give you a cutting edge in the market. They will be able to bring with them fresh ideas and perspectives bringing flexibility and a new lease of life to your business. Gaining an external perspective will enable you to adapt quicker and more effectively to changing market conditions.

10½. Level the Playing Field

Small firms have not got the resources or cash injection to match the in house support services that big corporate organisations are able to maintain. Outsourcing enables small firms to give the perception of being ‘bigger’ by giving them economies of scale and higher levels of efficiency.

This month's Famous Feet

Rachel and Philippa caught up with Graeme Swann, England cricketer at a charity night for Walk the Walk.

Walk the Walk, a charity founded by Nina Barough, came into being 12 years ago when just 13 women power walked The New York Marathon in their bras to raise money and awareness for breast cancer research. What started out as a once only fundraising event has blossomed into a thriving charity raising to date in excess of £45 million for breast cancer research and cancer care.

Graeme Swann wears a size 11!

Congratulations to Philippa

Philippa recently completed the New York marathon for Walk the Walk. She power walked her way to the finish line in 5½ hours. Well done Philippa!

Famous feet

Kylie Minogue
Singer/Actress
Shoe size: 5