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How To Solve Common Business Problems

Every business owner has their own unique business journey. However, you can’t deny that most of the time, we share the same common problems. 

We come across them while we are on our way to scaling or/and growing our business. Maybe you’ve been growing your team or building a program for a while, but you haven’t been able to scale. Or perhaps the demands of your back-office admin tasks are finally taking a toll on you and your in-house staff resulting in decreasing efficiency. Maybe you’ve realised that you’ve spent most of your time working in your business and that you don’t have time to live your life. 

For whatever reason it may be, outsourcing your non-core functions can help you free up time and money in growing and scaling your business. But what are the common business problems that outsourcing can help? Read on as we break it down below. 

 

Operations costs are too high

The most obvious top benefits of outsourcing for many businesses, especially in the midst of our current economic uncertainty, are low-cost human resources solutions. When you should outsource, it completely depends on you. But whenever you are ready to cut unnecessary costs and improve the efficiency of your back-office operations, outsourcing can be the best option for you. 

Outsourcing allows the business to focus on what matters by reinvesting their time and resources where they will make the most impact. Perhaps you can reinvest it in income-generating efforts such as sales and marketing. It can also help your team focus on doing what they do best, the reason why you hired them, thus increasing in-house productivity. Or maybe accept more clients into the business without putting pressure on your current in-house staff whilst keeping the cost at a minimum. Whatever the reason may be for cutting costs, outsourcing is a solution that fits the bill. 

 

In-house productivity is declining

Administrative tasks can take a toll on your staff and stop them from doing what they do best, resulting in a massive decrease in business productivity. Although adding people to your team to do skills that aren’t part of your core business can be daunting, time-consuming and expensive you can’t afford not to do so. So what do you do?

Lots of businesses are taking advantage of outsourcing through offloading their back-office tasks to an outsourced team. It allows them to stick with what they do best and do more of it without bringing in the big cost. 

 

Your business is growing too fast

Anyone who has led or helped lead a start-up in growth mode knows the demands that come with the excitement when things start rolling. Clients are pouring in and you see big growth on the horizon. Sounds good, isn’t it? But then you stop and realise, “What do we do now?” Growing fast can bring a certain set of challenges and for many businesses, they opt to seek help from an outsourcing partner. 

Outsourcing relieves some pressure off employees and managers while also offering new resources like extra hours with qualified experts at an affordable cost through our services which makes all aspects of consultation easier than ever before.

The excitement of your business’ growth can bring great challenges. You might be pouring in clients, but you need to ensure that everything is running smoothly when the time comes for scaling. Sure, there are many ways a growing company handles the workload but outsourcing presents more pros than cons. 

Starting a relationship with an outsourcing partner when you see the need to scale can help you organise the tasks that can be outsourced and what should be kept in-house while building an outsourced strategy that lasts and grows with you. 

 

No time to focus on your business

Have you taken into account how many hours you spend doing administrative work? If you haven’t definitely should. Many business owners fall into the time trap a lot, that is why you should frequently remind yourself not to fall into the same trap. Take the time to sit down and list down all the tasks you do in your day-to-day and find out which tasks are low-value that are eating up your time.

Is 4 hours a day managing your emails really worth your time when you can spend it acquiring more clients? As a business owner, your time is best spent in front of as many clients as you can, not in front of your computer sorting out emails. Outsourcing low-value tasks lets you focus on working ON the business; finding ways to improve efficiency, bring more clients to the business, planning your next move and finding new business opportunities. 

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Case Study:

Chris Brown is a Director and Senior Mortgage Broker at New Vision Financial Services. He runs a Sydney based mortgage brokerage that’s servicing clients since 2015.

Case Study:

Sam Panetta is a co-founder and the head of the lending department at Aureus Financial. His business helps clients get the funding that they need to grow their business, acquire their dream home and build wealth through property.

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