Is it time to outsource parts of your small business?

With the help of today's technology and our growing comfort with working digitally, outsourcing parts of your small business has never been easier or more beneficial to small-business owners. Deloitte Insights' annual report suggests that almost 33% of companies surveyed used some type of gig worker or freelancer to extend their company's workforce. Delegating certain tasks, skills or entire departments is a great way to move your business forward if the timing is right.

Why entrepreneurs work with third-parties
There are a number of reasons solo entrepreneurs consider outsourcing. In these early stages, it's not uncommon that the idea of giving up some control, or the notion of spending money, can make some small-business owners nervous. Thankfully, hiring quality help has been made much more cost-effective and comes at a lower risk. Many skilled individuals offer their services as side work or as gigs. In fact, Upwork states that nearly 50% of millennials report doing some type of freelancing. With remote work more prominent than ever, these professionals don't even need to be in the same city as you. The most common reasons business owners begin to delegate work to third-parties usually include the need for more bandwidth to keep up with production, or the need for specific skill sets on their team.

Outsourcing work can improve productivity and increase the quality of services you offer.

Signs that your business is ready to outsource
If you're unsure if it's the right time to bring on an extra pair of hands or not, here are a few questions to run through before you start your search.

• Has your company grown recently and you no longer have the ability to keep up?
• Have you added services or technologies that are outside of your skill set?
• Do you have the cash flow or monetary means to bring on new help?
• Will outsourcing make your business more productive?
• Could bringing on a team improve your quality of life or levels of happiness as an entrepreneur?

On the other hand, there are a few reasons to avoid outsourcing, at least for the time being. If your workflow is low, or if your cash flow isn't steady yet, you may want to wait until you have the means to hire workers. Similarly, if you are considering outsourcing for non-essential services in the beginning stages of your business, it's best to hold off and focus on what is needed to help you grow.

Outsourcing comes in many different forms and can be used for big or little parts of your company. You may opt to contract a worker, hire a seasonal employee, or work with a variety of freelancers. Depending on your needs and available budget, it's likely that there is a form of outsourcing that will help propel your business forward.

If you think it's the right time to expand your business, it's also a great time to consider getting proper legal representation as you grow. Get in touch with the professionals at The Law Offices of Donald W. Hudspeth, P.C. today.

Categorised in: Starting a Business in Arizona

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