Is your company is at a plateau? This may be the right time to consider solutions to help you scale through to the next level. The question I guess you’re asking now will be “Can I do this with the little amount of money at my disposal? Yes, by outsourcing to freelancers or outside professionals or services to take on part of your business workload. Outsourcing is now a common strategy used by many successful businesses.
In this post, I discuss 5 ways to scale your business through outsourcing
Create More Space
Not having enough room to grow is one of the most common challenge businesses run into when growing at a fast pace. Rather than sinking a significant amount of capital into building an additional warehouse and equipment for example, consider partnering with a third party who already has these elements in place. This will eliminate the need to take on a large debt that may take years to settle, keeping you out of the red.
Most businesses see a varying demand for their products, particularly if they carry seasonal lines of merchandise. To maximise your resources, why pay to have space on hand that is not in use year round? Outsourcing to a third party who can maximize that unused space with other clients during your down times will save you the cost of maintaining it yourself.
In order to keep up with increased production demand for your products, consider the investment it would take to expand production output yourself. Outsourcing to a fulfillment centre that is already flexibly equipped to manage the peaks and valleys of order demand can be a great asset.
Add Expert Staff
Instead of adding to your own payroll cost, you can outsource a fully trained expert staff to manage the entire process. This gives you one less concern when you’re trying to focus on your core activities like research and development instead of hiring and training personnel.
Access New Technology
Costs of production equipment, transportation and inventory software can really add up quickly, especially when new technology is rapidly evolving. By outsourcing professionals, they can step in to provide the expertise and new advances for you so you can reinvest your money elsewhere or eliminate the need to take on more debt.
Take the time to devise a budget outlining all of the initial outlay of costs associated with these 5 key areas. This will help you put into perspective how much value a third party fulfillment company can contribute to your bottom line. Outside of cost, consider the other benefits such as fast ramp up time, flexible and seamless processes, customer service and follow through and so on. Just keep in mind, the most important factors are to choose a partner that understands your business, is as enthusiastic as you are about it and has great referrals.