How to Prioritize Outsourcing in Your Business

Learn how prioritizing your in-house vs. outsourcing strategy will grow your business operations.

Reviewing Your Budget

In today’s economic environment, it’s important to recognize where to outsource your small to medium sized business functions. We’re facing multiple obstacles: talent retention, COVID-19, and rising inflation. Building effective infrastructure internally to grow your business has never been more important. However, we can’t be experts in everything. It takes a team to grow your operations. Creating a cost-benefit analysis may determine outsourcing makes more sense financially than hiring an in-house employee.  

Determining What is Most Important

What are your business differentiators? Once you understand these key factors, keep the tasks that relate to your competitive advantage in-house. For instance, an interior design firm may not want to outsource interior designers. However, they may look to outsource services like IT and technology. This is because it is not an essential part of their competitive advantage, and they may not have the level of expertise required to achieve success. The main three areas to consider are:

  1. Is it something I need to keep control of for essential business functions?
  1. Do I have expertise, or would it be something I’m willing to learn?
  1. Outline the risks of in-house vs. outsourcing

Taking Action

Your first thought to reviewing your budget and determining the areas that are most important might be: let’s hire internally. Before you jump to the LinkedIn job postings, ask yourself: “Is this position critical to an in-house role, or could I utilize our resources elsewhere?” Finding the right partners for your business is crucial to achieving the right business outcomes. What is the partner’s mission, and how does it align with your own?  

Event

Blackink IT and Milestone have partnered on our upcoming event “Leading in Chaos” to continue these conversations. As two partners, one in the IT space, the other in the HR and Accounting Services space, we appreciate the value in partnerships. Join us on June 22at 8:30 AM at Tinker House Events for these discussions and more. Register at the link here.