Startups are uber-competitive. It can be sink-or-swim when the initial expansion for the company comes. This means that core employees need to be focused on their projects so that they can contribute to the success of the startup.
However, becoming a successful company requires more than just putting out a great product. There’s the administrative part of the business and more. Business owners usually wear many hats so that they would be able to save time and money. However, this can result in problems as their attention is turned elsewhere.
90 percent of startups are fated to fail. One of the main reasons for their failure is that they ran out of money before the business started taking off. This is why it is essential that someone keep track of the current level of funding that the company has. You will want to invest in services and employees that will deliver a return for your company – or at least save you money.
Where Outsourcing Helps
This is where outsourcing can help a lot. The goal of startups is to get the best return on their investment and outsourcing can do that. Lower wages and increased savings for recruitment and onboarding translate into more money at the end of the day. Productivity can also be improved by having outsourced workers do a lot of the busywork that comes with running a company.
There are three areas in which outsourcing can be a big help:
- Administrative Tasks. Outsourcing your back office duties like answering emails and scheduling makes it so that your core team can focus on the projects that will earn your company money. With qualified administrative staff, you don’t have to worry about the small stuff and just need to work on the big ideas.
- Payroll. Keeping your employees paid is important in a startup. Accurate payroll information is also important since it ensures that your company won’t end up getting fined for payroll violations. You want experienced staff working on this and if you can’t afford an on-site payroll staff, an outsourced payroll team works just as well.
- IT. Depending on what market you work in, outsourced IT can be an essential part of your startup strategy. Getting your product to the market and creating an online presence is both very important and IT staff can help with that. Outsourced IT teams can work with your company to develop products and services so that they can be tuned to the market. Your in-house IT staff can also work with outsourced workers. For example, in-house development can focus on innovation while outsourced employees can be quality assurance or act as specialist developers.
Outsourcing these three parts of your startup can result in big savings for your business, allowing for your initial capital to stretch out more until your company can start offering its products and services.
We Can Help
When your startup needs to expand fast, you’ll want the best. This is where Remote Staff comes in. We take away all the headaches and expense of recruiting and managing outsourced workers. Contact us and we’ll work with you to bring you together with the people that you need to succeed.