Tag Archives: outsourcing

Why Outsource?

At Hold Everything, the virtual office company based on London’s prestigious Regent Street, we outsource some of the services we sell, so we can provide an all-round quality service to our clients and not have numerous distractions thus ensuring we give every client the best possible attention.

We also act for many industry colleagues as they outsource to us, as they don’t all have the opportunity to have an office in Regent Street but can at least extend the facility.

So why outsource ?

From a small company to a big company, from the financial industry to the creative, from a start up to a well-established business there is always more work to do, then time do it in. The answer more and more companies are turning to is outsourcing their work. But for more small businesses it is an essential part of their growth.

 

In a recent poll conducted by The Guardian’s Small Business Network, they were asked whether business readers outsourced work to freelancers. The conclusion; most answered ‘yes’ with 79% saying that “using freelancers is a big part of our business strategy.”

Three Reasons to outsource:

 Control Capital Costs

Cost-cutting is a major factor especially when it comes to paying rent along with all the overheads that come with renting an office. A popular way for small businesses and start-ups to avoid large expenditures but to gain an established persona is by using a Virtual Office, like Hold Everything that is based on London’s prestigious Regent Street.

Reduce Labour Costs

Hiring a full time person for their particular skills can be expensive when running a small company, so most businesses look at outsourcing work to freelancers for this. For example, SEO work is outsourced to a professional or for short-term projects such as admin audits they are given to freelancers. By outsourcing certain work it allows you to focus your human resources where you need them most.

Web platforms like People Per Hour are great to find that specialised individual and look at their work.

Level the playing field

 Most small businesses can’t afford to match the ‘in-house’ support services that bigger companies can afford. Outsourcing can help smaller businesses act “bigger” by giving them access to the same economies of scale, efficiency, and expertise that large companies enjoy.

Outsourcing to ‘Virtual’ Facilities

Virtual PA/Assistant

Companies that are growing will naturally need to employee additional people. But hiring staff adds overheads, not only that but sometimes you don’t really need someone for a ‘full time’ job. Therefore using a Virtual PA/Assistant has many beneficial factors.

  • Reduces costs- You can hire and pay them for the set hours you want the particular business task completed in, instead of paying someone a yearly salary. Along with this you won’t have to invest your money on training someone as the Virtual PA/Assistant you hire for the task in hand should already have the skills set that is required.
  • Saves time – When it is time to hire someone, it is not a quick or easy task. You need to advertise the role (which can cost money), wait for applications (takes time) then look at applied CV’s, shift through them and arrange interviews. Then there is the interviewing stage. This is a very lengthy process. The solution, all of this can be skipped over simply hiring a Virtual PA/Assistant.
  • You don’t have to share your space – Virtual PA/Assistants are freelancers. They will most likely work from home, plus you won’t have to buy additional computers or desks.

Details of Virtual PA’s can easily be found by a generic search through the internet, or head to The Society of Virtual Assistants for more information.

Call Centre

A popular choice for many companies is to outsource their telephone calls to a call centre. This can be for several reasons such as, customer service professionalism, and the growth of the company. Below are a few of the main aims businesses have for when choosing to outsource their calls.

  • Great customer service at all times – If you or employees in your company are not trained in the fine art of customer service you can turn to a call centre and rely on their professionalism.
  • A majority of businesses use call centres for their customer service help line, by using a call centre for this service ensures the phone is always answered; this can be the difference between keeping and losing a customer
  • Lower costs – Businesses outsource their calls to reduce administrative and operational costs. You are freeing up your time by not being interrupted by phone calls (especially if they are sales calls), you’ll be able to streamline the process and focus on the business task in hand, this makes for better overall efficiency letting you use your time and energy more wisely. You also save money on labour costs by not having to employ extra staff to just answer the phone especially if the company is growing.

So has this helped you decided whether to outsource ?

Cutting Costs?? A message from Richard Cooper

virtual office business advice

Need to reduce overheads??

In the current climate businesses and start-ups are looking for ways to reduce business overhead costs while still being efficient.  I have seen a lot of businesses do this very efficiently but have also seen what can happen if this goes wrong.  Ifs well known that if you want to increase your profit, one of the fastest ways to do this is reduce overheads.

My business is one of the most popular ways that companies stay professional whilst keeping their overheads low, so I have a vast experience in this.  It is one of many ways.

So how else can you do this effectively without cutting corners and affecting your service.  Here are my three top tips to help cut over

1.    Track where the money goes – While this is not always possible, especially when your business grows, it is important to understand how and where money is being spent. Knowing you figures will allow you to really get to grip with where you can save.    It may take some time to understand by persevere.  It’s the biggest way you will know how your business is growing, or not.

2.    Outsourcing – This can work very well in  reducing overhead costs  but ensure that its quality and professional outsourcing you use.  Outsourcing can provide great savings on necessary services such as your office,  IT and accountant, and it’s always very beneficial to surround yourself with professionals.  Always satisfy yourself however that you are receiving value for money.

3.    Hire employees consideratly–  If you have employees, this will be a large part of your outgoings.  It’s really important to ensure that you take on the right employees with a clear description of their roles, and also to review these roles regularly to ensure that your business needs are being met.   Multi training your employees may increase flexibility too.

Make sure you schedule regular overhead reviews that examine all your businesses expenses. You may be surprised to find a considerable amount of savings each time you do

Until next time..

 

Richard cooper – Virtual office Visionary

Follow me @holdeverything1