Is Outsourcing Right for Your Business?

As a small business owner, you’re naturally concerned with saving time and money but at the same time growing your company as rapidly as possible. One possible solution to this situation is outsourcing some of your work to external service providers. These independent contractors can help you with web design, content creation, software development, administrative support, and a range of other tasks. Here are some tips on how to best use outsourcing to achieve business success.

Carefully Evaluate Potential Service Providers

Appraise a service provider for outsourcing as carefully as you would a full-time job candidate. Be sure that the provider you are considering has specific training and verifiable experience in the type of project you are undertaking. Check the portfolio and references of providers you are considering, and if you are still unsure, ask them to perform short sample tasks. Never use low price as the main criteria for your decision, as you may lose quality while you save money.

Clearly Explain the Work

Give detailed, accurate information about the scope and requirements of the project you are outsourcing. This is important beforehand so that prospective providers can offer you accurate proposals and bids, and afterward so that the individual or team you have chosen can complete the work to your precise specifications. When you’re outsourcing for the first time, start with a small project so you get used to working with your providers before you move on to something more important.

Negotiate Details

When you are outsourcing a major project, offer an advance, and then tie further payments to a series of milestones towards the project’s completion. Another point to negotiate is the ownership to any creative work that you have outsourced.

Agree in Writing

Put whatever details you agree upon in your negotiations in a written document signed by both parties. If during the project you make any changes to the original agreement, put these in writing as well. Additionally, keep copies of any correspondence you have with your service providers.

For more advice on outsourcing, get in touch with Commercial Capital Lending.

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