Setting up a business can be an incredibly daunting task. You’ve got your USP and you’re ready to take the plunge into the world of entrepreneurship, but what kind of challenges will you face along the way?
There are many different aspects to setting up a business, from hiring and stocking business premises to forming your staff structure. But one of the most challenging aspects to judge is how many members of staff you will need.
You might be feeling optimistic about how well your business is going to do in its first few months, but it’s important to be realistic. Every business takes time to get off the ground.
There’s a lot to do when setting up a business, so you’re going to need staff to help you and to meet any initial surges of demand.
However, we all know that staffing is one of the largest expenses when running a business, and you don’t want to see a negative cash flow when you’ve only just begun.
It’s quite the dilemma when your forecasting can’t yet be based on experience. So what’s the answer?
Luckily, we have it. Outsourcing…
What is Outsourcing?
Outsourcing is fast becoming the saviour of business, especially in the current climate where everything is so unpredictable.
In fact, in 2019, the global outsourcing market amounted to 92.5 billion U.S. dollars, showing just how popular it has become.
Outsourcing allows for ultimate flexibility, which can be the difference between business ruin and survival.
So what is outsourcing? Companies that specialise in certain operations exist to lend a hand to businesses in need. For example, a company could provide additional customer service representatives when your phones are ringing off the hook.
Notably, businesses outsource in order to take on new members of staff on a temporary basis. Therefore, you can benefit from some extra pairs of hands on an ‘as and when’ basis, without the hefty price tag of new, full-time members of staff.
It’s the perfect solution to the age old dilemma of fluctuating business busyness.
Usually, you’d lose money paying unnecessary staff during quiet periods, so that they are there when it’s busy. Or you’d struggle through busy periods, missing leads because you couldn’t afford permanent members of staff.
Now, you get the best of both worlds, and it’s a crucially important tool to include in your initial business plan. Now, more than ever, it’s going to be difficult to predict demand, so flexibility is key.
What Can You Outsource?
Here are some ideas on the kind of roles that can be outsourced to third parties…
Virtual Personal Assistant
I bet this one sounds particularly appealing to those just starting out in business. You can now hire a virtual personal assistant on a temporary basis, to help you get on top of your workload.
The beauty of virtual personal assistants, as opposed to personal assistants, is that they are remote. This makes them extremely flexible and accessible. You can hire a virtual personal assistant 24/7 if you need to!
By choosing a top notch company like Cymphony outsource to, you can ensure that your additional staff are trained to perfection. This, in turn, makes your life even easier as it requires minimal effort to incorporate them into your business.
So what do virtual personal assistants do? They often help with day to day administrative tasks such as diary management, typing, and call handling.
These tasks are necessary but take up a lot of time that could be dedicated to more valuable aspects of business management.
When you’re setting up a business, help like this can be priceless.
This is one of the most popular operations that businesses outsource. An over-run customer service department can spell disaster, as it is the main interface through which leads arrive.
Leads are growth opportunities for your business and should never be missed, so understaffed phone lines are something to be avoided at all costs.
Luckily, when you notice a busy period on the way, you can quickly outsource and take on new staff. This way, nothing is missed and when things settle down you can release the staff and the expenditure.
Outsourcing your call handling to somewhere like Cymphony when needed, has the added benefit of maintaining a strong customer service reputation.
This is key to the success of any business, as it helps you to nurture existing customer relationships and increases the chances of your business name being spread through word of mouth.
61% of consumers say that they have stopped transacting with a business after a poor service experience. Don’t become part of this statistic!
If you’ve never heard the term ‘live chat’, it’s time to become accustomed.
Live chat is the most recent development in customer service interfaces, and its popularity is huge. It consists of a chat box which pops up on your website, inviting visitors to type any questions they might have.
It’s hugely convenient thanks to ease of access. Many prefer it as it is a less intense experience than a phone call, yet far more efficient than an email as responses are instantaneous.
In fact, it has been proven that 79% of consumers prefer live chats because they offer instant responses.
It’s a great feature to include on your site, and helps to attract new leads as well as maintain healthy, existing client relationships.
And, of course, it can be outsourced! If you struggle to provide the quick responses that live chat is famous for, you can easily outsource to trained staff such as those at Cymphony.
They will help you to stay on top of conversations, make the most of incoming leads, and enhance your customer service standards.
As you can see, there are so many operations that can be outsourced, and so many benefits to doing so.
Every business aims to meet demand and make the most of incoming leads, but it’s easier said than done. This is especially the case when setting up a business as you’re dealing with the unknown.
Outsourcing gives you a fantastic head start, with the flexibility to mould your business as it grows.
If this sounds appealing to you, give Cymphony a call to discuss how their services could help you get your feet of the ground.