If I’m trying to save money, what is the best area of my business to outsource?
The following answers are provided by Young Entrepreneur Council (YEC), an invite-only organization comprised of the world’s most promising young entrepreneurs.
1. PPC
Paid search is one of the easiest things to outsource. Most companies don’t need a full-time paid search expert on their team. Outsourcing this is pretty easy and will save your business money in the long term. I personally like 3Q Digital, Hanapin Marketing, Adogy and Wordstream to manage my paid search. – Murray Newlands, Influence People
2. Document Formatting
If you create a lot of presentations and spreadsheets, consider outsourcing the formatting of this to a college student or remote employee who can handle these repetitive tasks. I especially recommend creating step-by-step screen capture videos to explain precisely what needs to be done. –Sathvik Tantry, FormSwift
3. Anything Outside Your Core Service or Product
You may think you’re saving money by trying to do everything yourself, but it’s a false economy. Focus your staff hires on people who perform your core business. Everything else — accounting, payroll, marketing, etc. — can be outsourced. – Mary Ellen Slayter, Reputation Capital
4. Anything You Hate Doing (and Aren’t Very Good At)
There is nothing more frustrating than “trying” to do things well that I am bad at and don’t like. Do what you love, and what you are gifted in. Outsource the rest. It is an expense, but this expense will allow you to be more effective building and generating revenue because you are inspired all day doing what you love. – Matt Shoup, MattShoup.com
5. Payroll and Benefits
Few people are payroll, tax and benefit experts, so it’s best to hire those who are. We’ve found that having one company manage both payroll and benefits simplified our life even more than two separate companies. It’s nice to have payroll automatically adjusted when benefits change — that used to be a manual process to make sure deductions were right with payroll and adjusted with each change. – Angela Harless, AcrobatAnt
6. Human Resources
We use a company called Zenefits to take care of many of the traditional human resources functions. This allows us to spend our timedoing what we do best. – Jason Kulpa, Underground Elephant
