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Business Scaling and Its Golden Ticket – Greymouse

Published by: Marisa Wiman | 27 November, 2018

Starting a business no matter how small it is can be very fulfilling. It isn’t all about earning money but living the life you’ve always dreamed of. So when success comes in, it can be quite overwhelming especially when it comes to expanding your business growth.

In business, growing your business even further is called “scaling“. Scaling your business simply means that while your business is growing; it can adapt to various changes, specifically the workload itself without compromising the performance of the company or losing revenue.

So let me ask you this question, is your business scalable? If you’re hesitant to answer this question, then it’s more likely a NO. To help you with this dilemma, let me share with you pieces of advice on how to scale your business through outsourcing.

WHY OUTSOURCE?

According to Laura Lee Sparks, owner of Legal Marketing Maven–a firm that helps law firms streamline their practices through outsourcing; “Most entrepreneurs have great talents but many times they think they can do it all,” Sparks says. “That can really stall the growth of the business. By outsourcing the day to day back-office tasks, the business owner has more time to focus on generating income.”

One of the reasons why Kelvin and I started our business, Greymouse is because we know how hard it is to manage a growing business with a small group of people by your side. But with the help of outsourcing, entrepreneurs like us can focus more on the major tasks without compromising the smaller tasks.

“More small businesses are outsourcing tasks these days because technology has advanced to the point of professionals being able to work from anywhere in the world, coupled with the availability and accessibility of extremely qualified professionals who have decided or been forced to leave the corporate world, [such as] virtual executive assistants, marketing directors, graphic designers, transcriptionists, paralegals, web designers, HR consultants, bookkeepers, PR directors, IT specialists, and the list goes on,” Sparks says.

Investing towards outsourcing can be terrifying, especially if you are an owner of a startup business. But when you are determined to grow your business, taking a risk would be a choice you shouldn’t regret. “Progressive entrepreneurs realize the unstoppable power of outsourcing to handle aspects of their business that are essential but simply don’t make sense for them to deal with personally,” says David Walsh, entrepreneur and author of Source Control, an e-book on effective small business outsourcing.

WHEN TO OUTSOURCE

Each company has different timelines and reasons for them to outsource. Some businesses have in-house talents who are handling daily activities, but when it comes to specialized tasks that you and your talents don’t have the skill for–hiring a professional for the task isn’t a bad idea.

According to Gregg Landers, director of growth management at CBIZ MHM (the nation’s eighth largest accounting and business services provider); the types of tasks that are best outsourced fall into three general categories:

Highly skilled, or executive, expertise. For example, you may not need to pay a CFO’s salary, but you could have a CFO-level person to come in a few times each month to provide financial analysis and ensure that the bookkeeper is handling the books well, Landers says.

Highly repetitive tasks. Accounts payable, data entry and shipping inventory could fall into this category.

Specialized knowledge. “An example might be the IT support for your accounting system or your network,” Landers says. “You may not be able to afford or need a full-time IT person, and it is easier to change to an outsourced provider with the right skill set as your IT needs change.”

In Greymouse, we strive to provide dependable, effective and highly skilled virtual workforce for small and medium-sized companies. We do this through an advocacy – alleviating poverty through employment. When you grow your business with us, you also get an opportunity to improve people’s lives.

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