For those who are venturing in the world of outsourcing or just considering – take note!
The world is FLAT! Communications are continuing to improve. We are become virtual. If that is not enough then consider the following:
1) Staying more focused on your core competency. For example, if you are a distributor and designer of home furnishings, what would you be able to do with 4 extra hours a day?
2) Staying creative. Focusing on non core competency tasks such as data entry, accounts receivable collection calls becomes a draining exercise. At the end of the day, how much of your creative thinking did you really employ?
3) Hire better talent. With the cost savings that you experience, you can now deploy those funds into attracting the incredible talent that is now available.
4) The middle of 2010 will be a golden time to expand your operation. New and used equipment will be inexpensive, real estate will be inexpensive, interest rates will be low. Start planning your expansion now. Outsourcing will maximize your expansion plans by stretching your dollars by keeping your employee costs low.
5) Look for clients or ways to sell your product in western Canada, Brazil, and Australia. These countries are positioned for strong future growth. Marketing can be outsourcing via telemarketing, email, and social media.
6) Eliminate products that aren’t profitable. Get rid of that which doesn’t serve your company. Outsource the selling of your stale inventory instead of relying on normal channels.
7) Explore alternate distribution channels. This can be accomplished by outsourcing R & D (research and development).
8 Companies in solid financial condition can gain assets and market share by acquiring weak or over-leveraged competitors. Acquiring another firm requires a plan to absorb the additional orders, receivable and payables. Outsourcing is the best way to have a shadow office to ensure the cash flow.
9) Disaster recovery – If you live in an area of natural disasters, what plan do you have in place. Having a separate outsourcing office may be the answer since the “cloud” is becoming the choice for software programs that run your business.
10) Dramatic cost savings!.