The small business you started last year – or five years ago, or even longer ago than that – is turning a profit, gaining a foothold in the market, generating a referral base that results in more sales of your products or services. These are signs that your hard work is paying off, that you’re successful. And while every entrepreneur wants their business to thrive and grow, success often brings additional work that can be overwhelming.

The Outsourcing Solution

When you started your business, you may have hired someone to do the things that were outside your comfort zone or skill set, like creating your logo, printing your brochures, and hosting your website. As you’ve grown, perhaps you have hired someone to make deliveries, answer the phone, and perform other tasks that take you away from the day-to-day work that is essential to your business.

Unless you are an expert in bookkeeping or payroll and stay on top of changes and trends, chances are that you didn’t start your business so you could engage in the tasks of bookkeeping and payroll. It also doesn’t make sense to hire someone full-time to perform duties that only need to take place weekly, monthly, perhaps even quarterly.

Save Time & Money

When deciding which duties to outsource, keep in mind the minutiae that can easily be overlooked. Such tasks often are relegated to the bottom of the in-box, causing a great deal of stress when deadlines are looming.

Does it make sense to assign a task to a staff member whose plate is already full? Is it logical to pay someone overtime to perform a duty that is outside of their wheelhouse? Is it worth the risk of fines or audits to apply a do-it-yourself approach to something as important as filing quarterly taxes or managing payroll?

Which Tasks can be Outsourced?

With tax deadlines behind you and second-quarter reporting a few weeks away, summer is the perfect time to review those areas of your business that drain your time and attention and could be better served by outsourcing, including:

  • Bank statement reconciliation
  • Creation of an Annual Operating Budget
  • Audit Preparation
  • Financial Statement Review
  • Invoice Processing
  • Check Processing
  • Payroll Processing
  • Sales Tax Preparation
  • Budget Planning

Plan for Success

Maintaining accurate records, timely attention to financial obligations, and planning for future growth are keys to a successful business. Outsourcing can help you stay focused to ensure you meet your goals.