In the world of business, growth is everything. If you have been trying to take your company to the next level, but haven’t quite been able to figure out how to do it, outsourcing might just be the answer.Outsourcing can help your company to grow in the following ways:
1. Maintain Flexibility
Employees are commitments, and training new hires can be a resource-intensive process. Outsourcing saves you the hassle of hiring and onboarding by connecting you with professionals who already know the job. And if you outsource, you won’t have a bloated payroll during slower times of the year.
2. Free Up Capital
Saving on staff and equipment frees up working capital to invest in other areas like product development, sales and marketing. This is especially important during growth phases when you don’t want to shoulder large expenditures.
You may want to consider renting instead of buying in order to spend on activities that grow your business.
3. Attract Investors
Outsourcing is also useful if you’re looking for additional backing. Investors pay for acquisitions that generate revenue; they don’t lend for daily expenses.
If you have to borrow just to pay your people, few investors will take the chance. Hire as-needed from a third-party, keep your books clean, and you’re more likely to attract funding.
4. Access the Experts
A one-off task like designing a landing page or writing copy for a brochure might not merit the time and expense of hiring someone. You’re likely better off outsourcing to a freelancer with expertise in graphic design, copywriting, or the specialized skill you need.
Some freelancers have years of experience and can produce high-quality work on a tighter schedule than your employees, who likely have other responsibilities.
5. Focus on Profit Centers
Sound administration is essential to any company, but it shouldn’t be front and center. Grow your business by outsourcing back-office functions like accounting, human resources, and payroll. That way, you can focus your energy on profit centers, or areas that make money.
The Bottom Line
Outsourcing has become popular for a reason. Not only can outsourcing streamline your operations, it can also help you to achieve significant levels of growth while improving your cash flow.
Your Questions Answered Quickly
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 855.782.1493 or complete our rate form today to learn more about invoice factoring and how it can improve your company’s cash flow.
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.