Outsource When You Can
It is much easier these days to outsource some of the tasks that are necessary for a small business. Technology has advanced, allowing many jobs to be done from anywhere. In the 2008-2009 economic downturn, thousands of well-qualified professionals were forced into the job market. Instead of waiting for jobs to become available, many began working for themselves. The list of free-lance professionals available to serve your company is seemingly endless. Some of the highly trained talents includes marketing directors, graphic designers, copywriters, paralegals, web designers, HR consultants, bookkeepers, and yes, CFO’s.
You may ask, “What are the best jobs to outsource?” Those jobs can fall into three categories:
1. Highly skilled executives such as chief financial officers, chief marketing officers, or chief
2. Jobs that require repetitive tasks such as data entry or accounts payable;
3. Jobs that require specialized knowledge like IT professionals.
One caution—Vet your contractors to the degree that you scrutinize your regular employees.
The private contractor market has become saturated in recent years, and while there are many available, you want the best working for you.
I recently met with a man who had been a vice president in a large Fortune 500 company. He was earning a nice living for his family and prior to 2008 was as secure as anyone. Almost overnight, his company experienced a severe downturn and he was out of a job. This is the story of countless executives who happened to be in the wrong industry during the economic downturn and its anemic, almost non-recovery. Because things happened so fast and the drop was so severe, the market became saturated with former executives. It seemed as if good jobs would never return. Out of necessity, my friend re-invented himself and started calling on small businesses. He marketed himself as a consultant helping business owners expand through acquisition. His advice to his vast customer base has been priceless. When jobs began to return, he started getting calls asking if he would come back to work. His response so far has been – “Forget It.” He says he never again wants to rely on anyone but himself. Why would he? He is again providing a nice living for his family along with providing a wonderful service to his customers.