In Guy Kawasaki’s “The Art of the Start,” he dedicates a chapter on bootstrapping, suggesting to outsource all other functions that are not strategic roles, such as customer service, IT, and accounting. This makes sense as entrepreneurs lack both time and funds. Instead of hiring a full time staff (or doing certain functions themselves), outsourcing can come out as a budget-friendly move, giving entrepreneurs more time to focus on important business decisions.
Not sure which functions to outsource and which ones to do yourselves? Here are the top 5 roles you should consider outsourcing:
Payroll is not just computing the salary of employees. You will need to check for taxes, requirements, and contributions such as SSS, Pag-Ibig, and PhilHealth. You will also have to keep track of employees’ time in, leaves, and possible deductions. Plus, should you make a mistake when it comes to taxes or contributions, your company can be penalized.
Instead, why not outsource someone who can do this or use software that can automate this for you? There are multiple options available at a low cost. Some include Quickbooks, Salarium, and Payroll Hero.
2. Scheduling and Administrative Tasks
It can be overwhelming to keep track of everything you do. Add in a number of small tasks such as receiving mail, or scheduling meetings, you will certainly suffer from decision fatigue.
Hiring a virtual assistant will save you time since they will be able to handle all of these minor and repetitive tasks. Some of them can even double as customer service by handling inquiries. In the Philippines, you can hire freelance virtual assistants from Raket, Freelancer, or even from us, here at MyOffice Philippines.
3. Office Space
Whether you need a meeting place or just a desk to work on, there will be times that you will need an office space. Renting a space is definitely not an option with its high fees, utility prices, and other expenses. Fortunately, there are many short-term office options that entrepreneurs can use. All of these are more affordable and already come with necessary facilities. Some include virtual offices such as MyOffice Philippines, coworking spaces, and business centers.
4. Graphic Design
There are times that you will need an artist’s help, whether it’s to make a social media post or to create packaging for products. Hiring a full time graphic designer will be too costly. However, there are many freelancers who will be able to deliver your requirements. Just need to create brochures, infographics, or online posts? Check out Canva and Piktochart where you can create beautiful images for free.
Not only will you need to do tax preparations, you will need to remember to keep track of expenses, remember to renew permits, and other important requirements. Best to outsource a company who knows the ins and outs of bookkeeping. You really don’t want to make mistakes when it comes to managing your finances.
Remember, outsource functions that are needed but will not be a game changer when it comes to your business- not because these are tasks you don’t want to do. However, outsourcing will save you money and give you peace of mind, knowing that these tasks are being accomplished by professionals, while you focus on growing your business.