You’re ready to launch your startup, and you know you need employees.
Does the task seem overwhelming? Recruiting, hiring and training employees is an intimidating task for even the most seasoned businesses.
What’s more, you may not have the finances you need in the beginning to provide a salary, benefits and even office space and equipment for an entire team. This is where outsourcing comes in.
Outsourcing is a terrific way for startups to take care of essential functions when your budget is small, and your office space is limited.
In this article, we take a look at five key areas for startups to outsource.
#1: Human Resources (HR)
This is a big job, and one you probably don’t have time for. In addition, your startup might not be big enough to hire a full time HR professional.
An outsource company can take care of all your human resource needs including recruiting, interviewing, hiring, training and onboarding, benefits management, employee policies and procedures, conflict resolution and more.
By outsourcing your HR needs, you take a big responsibility off your plate, while relieving pressure as well because handling personnel issues isn’t always easy.
#2: Finances
Many startup owners have a lot of hats to wear and taking on the finances of a new business is often last on the list.
The thought of hiring a CFO (chief financial officer) is cost prohibitive, especially when it comes to hiring them and providing enough benefits that they want to stay. In addition, you might not even have enough work for a full time CFO, bookkeeper, or accountant.
Outsourcing your finances means hiring an expert company to spend a few hours per week, or maybe more, managing only what you need without you incurring huge costs.
In addition, the outsource company can take care of your taxes to make sure you’re in legal compliance.
#3: Payroll
This is another area to consider outsourcing.
First, you probably don’t have a big enough volume to hire someone to take care of this for you. And, payroll goes far beyond simply paying someone their agreed-upon wage. Payroll includes all sorts of taxes as well.
The last thing you want to do is make a mistake that triggers an audit and costs your startup thousands of dollars.
So, instead of handling your own payroll or hiring a full time person, outsource it to a reliable company who is up-to-date on the necessary laws.
#4: Information Technology (IT)
Technology is essential in today’s digital world, but that doesn’t mean you have to manage it on your own.
Outsource your IT and take the headaches out of your list of daily activities.
You don’t need an in-house team, especially in the early days. Find a company who can set up your network, train your staff, and be available when your technology needs maintenance..
#5: Marketing
Unless you’re well-versed in marketing and digital advertising, it’s best to outsource this task as well.
You can avoid the cost of a salary and hire a company to help you meet your advertising objectives whether that’s building a website, designing business cards and brochures, handling your email marketing, pay-per-click advertising, or your social media accounts.
Be sure to set goals and hold them accountable.
Final Thoughts
Outsourcing is great for startups as well as companies of all sizes. For example, Apple doesn’t manufacture its products – it outsources them.
Outsourcing takes care of your essential functions and back-office services that are critical to maintaining your company. These include human resources, accounting, payroll, CFO services, marketing, and more.
When you outsource, you leave yourself time to focus on design and function like Apple does and concentrate on doing what you do best.
You have more time to fine tune your products and services, develop new ones, grow your company, find investors, plan strategy and be creative.
Are you a new startup ready to succeed? Are you looking to get your new business off the ground and watch it rise to success? We are here for you. We can help answer your questions and guide you through the process. Outsource your HR duties, finances, payroll and more to us. Contact Escalon today to get started.
