Why Outsourcing Works Better for Startup Companies?
Starting a new venture? That’s great, and with venture capitals, crowdsourcing etc. startups have become relatively common these days. But, the whole process of setting up isn’t a one-man show and involves people, resources, technology, finances and a lot of effort. However, staying in par with all the market requirements, industrial standards and managing the product launch, the newness of the business can all be too much of a burden.
In many cases hiring the right resources for specific tasks like digital marketing, website designing etc. can be a tough task and may even leave a big hole in the total budget. It is in such situations that outsourcing can be a big blessing for startups. Here are some additional reasons as to why outsourcing works better for Startup companies.
Cost, Cost & Cost
In most cases, startups have a fixed and limited budget to work with. Hiring new resources, renting/leasing a workspace, license cost for software etc. are just a few in the list that drains the funding. In such cases, outsourcing can be the best solution as it brings down the cost associated with individual activities and maintenance too.
What if? Is a big question and when it comes to startups it often bears huge consequences. Getting into the nitty-gritty of software developments, handling crashes, or errors and sticking to the deadline can be a huge risk for newcomers. Such tasks, on the other hand, can be seamlessly handled by an experienced outsourcing partner.
For startups, finding and hiring the right resources or even the best in the industry may not be always feasible. And compromising on the quality of hires could break the whole strategy. In such situations outsourcing the process to a company with experience and experts in the field can ensure best results. And the best part, you could easily get the best talent from across the globe based on the outsourcing partner selected.
If you are new to the market, the overall speed in which the product is launched, marketed etc. would be a bit slower. This can only improve with time. However, employing an outsourcing partner for the same would mean faster go-to-market by hinging on the existing experience. The outsourcing companies can also bring down the overall development time by running rotational shifts, utilizing automated tools etc. all of which add to the efficiency of the process.
While hiring freelancers too can solve certain hiring and development related issues, the overall price may be higher for that. Outsourcing, on the other hand, offers the same in lower price ranges. From Human Resource management to accounting to Web designing and digital marketing, startups have many functions that can be outsourced easily.
High quality, expert team, and more, outsourcing provides many options, and for startups, it gives the option to focus on the actual business plan, marketing, and other aspects.
While we have listed just a few benefits of outsourcing, there are many other aspects that make outsourcing a good solution. The key, however, is to identify the best outsourcing to assist your business.
What are your thoughts on outsourcing? Do share your thoughts.