When it comes to starting and maintaining a successful business, it is safe to say that there are many moving pieces. It is no secret that being in the business landscape is a challenge and a half, and there is no success without hard work and determination. To make it in business, it is important to flesh out what the business is about, why you want to bring it to the world, and how you plan to do so. The business strategies that a company uses to formulate and further structure their business plan on an ongoing basis are ultimately the lifeblood that keeps that business thriving well into the future. For different businesses, there are different tactics that will work the best for them, and sometimes figuring out which are the strongest for the business in question takes some more time. This is natural. There are some business strategies, however, that have an abundantly high success rate. One of the strongest of them all is called outsourcing.
We currently live in the digital era, and this is a time in our history where we have never been as influenced by technological advancements and rapid digitalisation, on such an unrelenting and fast-paced scale. And in this digital era, we are busier than ever – especially those of us who run their own businesses. Because of this reality, business owners (and all of us, for that matter) value convenience and efficiency more than ever. And so, when it comes to running a business, there is always room and a demand for innovations and strategies that can offer these ideals on a silver platter. Business strategies are the core of any successful business in any industry today, and one of the most successful and valuable business strategies there is, is outsourcing. Rather than having to spend precious time and money on going over the tedious, less important tasks of the business, outsourcing them to other companies is a stroke of genius that ultimately saves both time and money.
Outsourcing seems like a slam dunk – and it is, most of the time. But you must know how to use it, because if it is used without forethought or limits then it can prove to be a business’ downfall, rather than its saving grace. So, how do you know which branches of the company are best outsourced, and which are best left internal? Before anything else, you must sit down and map out the entire business, in all its facets. It will take time, but it is worthwhile. Do this in such a way that it is obvious how each facet relays into the business and proves its worth. Understand which aspects of the business are most important, and thus must remain internal, and which can easily be outsourced without impacting the structure and daily functions. Next, source out credible and professional outsourcing companies that can take care of these aspects of the business for you, working out quotes for labour in the process. And finally, narrow it down to which components of the business are to ultimately be outsourced, and move forward.
This is a business strategy that has faced its fair share of controversy over the last ten years, and yet amid it all, it has continued to surge in popularity, for this very reason. Today, there are all kinds of outsourcing companies available for hire. Specialising in everything from promo codes and promotional products, to advertising and marketing, outsourcing companies are priceless when they are used smartly. There is a certain art to figuring out outsourcing, but once you have, it is a source of untapped potential. One undeniably impressive example of smart outsourcing is the billion-dollar makeup company, Kylie Cosmetics. The creation of reality television superstar Kylie Jenner, this is a company that has been built on the foundations of structured outsourcing. While the formulas and base brand design is all Jenner, she has outsourced practically every other facet of her business, which is the reason that her net worth has risen to astronomically in such a relatively short time. Marketing is carried out via her social media pages. Sales and fulfilment are handled by online merchant powerhouse Shopify. Manufacturing and packaging is outsourced to a private-label producer in California, Seed Beauty.
Being in the realm of business is a wild ride, to say the least. There is never a dull moment when running a business, and so it is important to keep on top of things. Strategies are the life blood of a business’ longevity and success. Even so, not every business strategy works for every business. With this in mind, it is important to consider each available business strategy and even try many of them to decipher which is the best for your specific business. Outsourcing is one of the most controversial business strategies there is, but it is also one of the most successful when used adequately. In short, the power in outsourcing is that it effectively takes out of your hands some of the less important, more tedious aspects of the business, freeing up more time for you to focus on the more central components of the business. Outsourcing breathes new life into businesses, and in the digital era, when business owners are busier than ever, it is a gold mine.