Once you go into outsourcing, there is no looking back. It may well be the wisest move you will make as an entrepreneur. One that will bring tremendous benefits to your company, if done correctly.
Companies who outsource have said time and again, that outsourcing has helped boost their efficiency and productivity which resulted in an increase in their profit in addition to cutting costs.
Deciding to outsource is not enough though. It is just the first step you take towards success.
The main thing that successful companies who outsource have in common, is the fact that they all followed a solid plan. And in formulating a successful outsourcing plan, it has to have the following:
1) Have a clear objective
With outsourcing, you will enjoy many benefits. When diving into outsourcing, you need to identify what your primary goal/s is/are.
It may be because you want to delegate time-consuming tasks so you can focus on business growth. It may also, very well be, because you want to cut down on operational costs, or the availability of expert professionals who will work on your projects right away, etc.
When you have a clear objective, it becomes easier for you to choose an outsourcing partner and set the stage for the negotiation process. It helps align expectations for you and your outsourcing partner and decide on criteria that will measure success.
2) Set your boundaries
Now that you have determined the goals you want to achieve start identifying your limitations and restrictions. Consider what your core and non-core business functions, deliberate on what you will and will not outsource and whether you want to outsource to one company or several.
If you are a company just starting out, you may want to hire a virtual assistant to help you with scheduling and administration tasks. As a medium-size sales company, you could outsource market research functions, lead generation or telemarketing. If you are a giant company, you may want to outsource manufacturing or customer service.
3) Settle on a budget
It goes without saying that it is difficult to reach a goal without a plan. And when you have a plan, it includes knowing the expense involved with it.
Particularly for start-ups, small and medium-sized companies who are operating on a shoestring budget, it’s imperative that you decide on how much you are willing to spend. Setting your budget ensures you do not blow things over and you have enough resources left for other equally important aspects of your business such as innovation and growth.
When working with a budget in mind, you understand current costs and performance levels. Having an awareness of how much money is being spent, also makes you recognize how much of it is coming in. And from knowing that, you will see whether you are succeeding or not – whether outsourcing is working for you.
4) Identify your criteria for success
After defining your objectives, knowing the scope of services to be outsourced and determining your budget, you will then be able to come up with a clear-cut, fundamental and attainable metrics to be used as a gauge to measure your success. This should be commensurate to your goals and budget.
Having a well-defined, perceptible and viable set of values and terms is paramount to achieve
New to outsourcing? Implementing a fail-proof outsourcing strategy can be challenging without the right outsourcing partner.
We at Select Voicecom are more than happy to share with you valuable insights and proven strategies coming from actual and years of experience.
Our services cover business segments such as e-commerce, healthcare, financial, education, retail, travel and tourism.
If you interested to know more, call us today!