When you start up a small business, it can be hard to know what expenditure to prioritise – what do you actually need in order for things to run smoothly initially? Whilst going without certain services can save you money, there is an argument for some core outsourcing to be implemented fairly early on to maximise efficiency, and save you time, stress, and money in the long run.
In this article, we’ll be looking at key services you should engage with to make your small business more efficient, from finance to IT.
Why efficiency is key for small businesses
When a business is small, it’s essential to maximise your resources in order to stay competitive; being able to do more with less increases profitability and allows for growth sooner than those in the same space who maybe are sitting on their laurels.
Specific services employed by a small business can significantly enhance efficiency; far from wasting money, when chosen correctly these services can make all the difference.
Core services to boost efficiency
Accounting and financial management
Balancing the books from the get-go is going to save you time and aggravation in the long run; chances are you’ve not got all the time in the world to keep on top of your accounts when you’re busy running a business. Whether you invest in tools to make accounting easier, such as Xero, or you employ the services of an accountant early on, automating your finances in at least some way can save time and reduce errors.
IT services
There’s a huge chance your business will rely on IT in some way, whether you’re simply an ecommerce business, or a full-blown tech start up; if your computers, internet, or online security fails, you could be left out of pocket.
IT support helps keep your system secure and minimise downtime, and gives you access to a team of people who can not only fix issues, but also keep your business efficient by identifying ways that IT systems can make running your business easier.
Digital marketing
Your business won’t get very far if no one knows about it, and whilst you may not have the budget to employ a marketing professional full time, you could investigate your options when it comes to outsourcing it.
Many digital marketing agencies can handle things like social media, email marketing, your website’s SEO, and even physical advertising such as print ads and billboards. How else will your customers find out about you?!
Print management services
If you’re a small business that still relies heavily on office operations and printers, using a print management service is a must. Unmanaged printing is not only costly, but also harmful to the environment; print management optimises resources, reduces downtime, and improves document security.
HR and payroll outsourcing
You may not feel that your business is big enough for an in-house HR and payroll team just yet, but if you employ even just one member of staff, it’s well worth investing in HR and payroll outsourcing – it’s something you can’t afford to get wrong!
HR compliance can be a minefield, and you want to start out as a business that cares about its employees, so getting help from professionals not only keeps you on the straight and narrow, but also frees up your time, and protects your employees.
Choosing the right services for your business
When selecting the right services for your small business, it’s essential to do your research in order to determine what you actually need and evaluate potential suppliers’ suitability. Get recommendations from other business owners that you trust and take note of reviews to find service providers that can perform like they say they can.
Once you’ve made your choice, allow time for bedding in, as the service provider and their staff get up to speed on your business; establish KPIs and service level agreements at an early stage to ensure everyone is aware of expectations. There will likely be some teething issues initially, but stay patient and trust the process!
