Running a small business is always a tough thing to do. When you are in charge, you’re responsible for everything that happens, from how customers are served to how employees are paid.
As a business owner, it’s tempting to take a hands-on approach to everything that happens under your watch, but that is not always most effective. Far from hurting your business, a bit of outsourcing can actually streamline your operations, boost your productivity and benefit your bottom line. Here are three back office tasks that are prime candidates for outsourcing.
1. IT Support
Computer technology has become far too complicated for anyone but an expert to handle. Worse yet, the results of even the slightest oversight are now so severe that business owners cannot leave anything to chance.
From the ongoing risks of ransomware and the dangers of data breaches to mundane threats like hard drive failures and outdated operating system, managing a network is too much for most small business owners.
By outsourcing your IT operations, you free yourself for the things you do best, like serving your existing customers and finding new ones. Just as importantly, outsourcing your IT operations gives you access to technical expertise, so your data stays protected and you do not have to worry.
2. Taxes and Accounting
If you are a CPA or tax expert, you can probably handle your own accounting. If not, it’s best to leave this essential role to the experts. The U.S. tax code is already one of the longest and most complicated books ever written, and it grows by hundreds of pages with each passing year.
Worse yet, making a mistake could have serious, and expensive, consequences for you and your growing business. Even as the audit rate for individuals has fallen sharply, the number of small businesses under IRS scrutiny has continued to grow. With so much on the line, you simply cannot afford to leave your accounting and tax preparation services to chance.
Whether your business is thriving and you can’t keep up, or you are waiting on clients to pay their invoices, Universal Funding can help your growing company. Call us at 855.202.9875 or complete our rate form today to learn more about invoice factoring and how it can improve your company’s cash flow.
3. Office Cleaning
Chances are you have better things to do than empty trash cans and run the vacuum cleaner at the office. You could be using that cleaning time to do market research, reach out to clients or create new products, so why not free yourself from the drudgery?
Office cleaning is one of the easiest tasks to outsource, and with so many cleaning companies out there, you should be able to get a great deal. So stop emptying the trash cans and start growing your business.
The Bottom Line
As a small business owner, you wear many hats, but juggling too many tasks could actually hamper your growth and hold you back. If you have been doing everything on your own, it may be time to do some strategic outsourcing. Knowing which tasks you can handle on your own is important, but knowing when to step aside can be just as critical.
About Universal Funding
Universal Funding is a private funding source that has funded thousands of businesses and more than $2 billion since 1998. We turn your accounts receivable into the funding you need through invoice factoring and can have capital in your hands in a matter of days.