While many business owners know that outsourcing can be greatly beneficial to their company, identifying the key time to get started can be more of a daunting task. In this article, we’re going to share some key signs that it might be time to start outsourcing, while also briefly introducing nearshoring, an option that is often more useful than standard offshoring methods.
Signs That You Need To Start Outsourcing
Here are five of the main signs that it’s time for your company to start outsourcing in some capacity:
1. You’re Overwhelmed by Non-Core Tasks
Most of the tasks that companies outsource, at least at first, will be non-core ones. This simply means that they are not essential parts of daily business operations. These can include things such as paperwork that are not crucial for the business to keep running and producing revenue. This reduces the worry and strain of outsourcing them to someone else.
2. You’re Overwhelmed by an Increasing Workload
This is perhaps a more tell-tale sign that it’s time to look elsewhere to get some help for your business. If you’re being swamped by projects or simply don’t have enough time in the day to capitalize on the opportunities presented by clients, it could certainly be time to take a look at outsourcing.
3. Need for Specialized Expertise
Learning special skills to complete a single job is rarely worth the time of in-house staff. This is true event if the contract operates on a regular basis. There are also plenty of industries that require consistent, up-to-date knowledge in order for the service to be delivered effectively. For example, in the landscape of Cybersecurity, things are constantly changing with new vulnerabilities and protective measures being introduced. Outsourcing these types of tasks will not only save you money and time but also prevent headaches, too!
4. Having In-House Employees Offers No Advantage
While the standard method of expansion relies on hiring in-house employees, the cost of doing so can be much higher than utilizing remote staff for your projects. If having employees at a physical location offers no advantage to your business, the outsourcing route could be one to explore.
5. Costs Must Be Reduced
Some entrepreneurs may get so caught up in scaling their businesses that they forget to look at cost reduction. While gaining clients is a recipe for success, reducing costs can improve the cash flow of a company in more effectively. If you need to reduce the fees in your company in order to stay afloat, outsourcing is likely the answer.
Offshoring or Nearshoring?
Before discussing whether offshoring or nearshoring is best for your business, we have to look at what the two mean:
- Offshoring – This is when a business takes part of its operation to a different country that isn’t close to its current location. A common example of this would be a country in the United Kingdom outsourcing to India.
- Nearshoring – As the name suggests, nearshoring involves taking business operations to a country that is near the company headquarters, often sharing a border. One example of this could be a company from Greece taking advantage of Nearshoring in Macedonia.
For most companies, nearshoring will present the better option, if done correctly. It allows you to easily manage remote workers due to everyone being in a similar time zone, while also using a shared language.
One of the common misconceptions about offshoring is that it offers much cheaper solutions when compared to nearshoring. Put simply, if done correctly by a trusted company such as BOST, nearshoring can be just as cheap. It also comes with the benefit of being more convenient!
Start Nearshoring Today With BOST
Here at BOST, we can help you explore your nearshoring options to determine whether remote workers from Macedonia would be a good fit. You can get in touch with us today for a completely free, no obligation quote or to learn more about how we can help propel your company in the right direction!