How businesses can leverage outsourcing to grow better
Knowing what not to do can be an advantage
At the core, building and scaling a business can be summarized as complex problem-solving at scale.
Product development, sales, research and development, marketing, fulfillment, legal among others are highly specific business functions, and solving each of them requires experience, resources, and skills.
Sometimes, it can be hard to get access to the right talent, technology, and resources (at the right time), and without solving for these, growth can take a backseat, leading to one cog slowing down the entire wheel.
Successful businesses know how to navigate through this complex maze.
Most businesses think of outsourcing as a way to save expenses. It’s like looking at a supercar and saying that the only job it does is to take you from point A to B. That’s a limited way to look at the capabilities – we all know there’s more to it.
Similarly, there’s more to outsourcing than just cost optimization. If done right, it can serve as a tool to help businesses solve complex problems, without slowing down on growth.
Through this post, we’re going to look at outsourcing from an inside lens i.e. why growth-focused companies can achieve by outsourcing, and how outsourcing can be a competitive advantage in business.
1. Businesses can focus on core competencies
Outsourcing frees up the bandwidth from non-core areas and can help you refocus your resources on the activities and decisions that matter most for your business.
By outsourcing less demanding tasks, you can continue to work on vital activities that help you gain a competitive advantage in the industry.
For example – if you’re a technology company entering an established industry, focusing on your core product is going to be the area that brings in exponential rewards for your business. Putting maximum energy and effort into what you’re building will help you compete better in the marketplace.
Thanks to an interconnected world, finding, connecting, and working with experienced outsourcing partners and vendors is no more a challenge, but an opportunity to be leveraged.
Outsourcing can also bring in an outsider’s perspective – depending on how you look at it, it can also help improve your decision making.
2. Businesses can get to growth faster
For companies who’re set to enter new markets, or expand their product/service offerings, implementing change can take too long, leading to missed opportunities to acquire and engage customers.
Building teams in-house has numerous advantages, but training people on-job is often a time-consuming process that demands internal resources and bandwidth.
Outsourcing, on the other hand, is all about relying on an expert to get into action faster. You pay for deliverables, so you get to growth faster.
For example – if you’re building an e-learning app for a niche segment, outsourcing key functions like marketing and advertising can help you streamline your go-to-market strategy and connect with your target audience.
Outsourcing can help businesses get things off their back quickly, so they can launch, test, iterate, and grow. This can save both time and opportunity costs, and help businesses avoid inefficiencies in service delivery.
3. Businesses can stay flexible and agile
Hiring, training, and managing resources in-house can help you build teams to solve problems, but it can also result in massive overheads and huge responsibilities.
Instead, businesses can leverage outsourcing to scale demand for workers as they go and grow, maintaining a company’s flexibility to meet changing requirements.
For example – if you’re running an e-commerce business, and have seasonal fluctuations in consumer demand, you’d be better off relying on an outsourcing partner to help you prepare for the sudden spike in sales volumes, instead of hiring and training for a cyclical time frame.
Outsourcing can help businesses stay agile by keeping in-house teams lean and relying on additional resources as and when necessary.
One of the key advantages of working with the right outsourcing partners is, it can help businesses minimize unwanted switching costs and stay lean operationally.
The secret to growing online sales?
4. Businesses can access a bigger talent pool
The foundation of every successful business is a rock-solid team.
Having skilled resources on your side is like having the right ammunition when you’re going to war – it will help you maximize the odds of hitting the targets, and winning the battle.
Relying on in-house talent is a good strategy to build, scale, and grow a business, but it can be limiting too, especially for small and medium businesses for whom attracting and hiring talented resources is a common challenge.
For example – say you’re building an ERP software solution for the healthcare industry, it’ll be a lot easier and faster to work with developers, designers, and project managers who’ve had prior experience in building for focus groups.
This way, you can get to work with experienced people, and the timeframe required to kickstart execution will be a lot shorter.
In simple words, you can get the job done from outside, especially if waiting to make things right on the inside is taking a lot of time and resources.
Outsourcing opens up a bigger and more diverse talent pool for companies who want to expand their reach in terms of working with skilled people from across the world.
Once you find the right partner, this can easily be achieved without compromising on talent and capability.
So, Should You Outsource?
Like every story, there’s two sides to outsourcing as well.
Despite the numerous advantages outsourcing offers, it’s also important to consider the risks involved.
Finding the right partner, building trust, communicating effectively are common challenges faced by businesses who outsource activities and processes.
If you’re trying to evaluate outsourcing as an option – it’s important to take a holistic view.
When considering the benefits or evaluating the cons of outsourcing, shift your focus from the cost savings aspect, and try to look at how an experienced outsourcing partner can help you achieve your business goals.
Once you look at outsourcing as a tool, instead of just a service, it becomes easier to understand how it can create new opportunities for you to innovate, succeed and grow.
How SquadIQ can be your outsourcing partner for sales and fulfilment
Warren Buffett once said, “Price is what you pay. Value is what you get.”
Every growth focused company has a common problem to be solved – connecting with more leads quickly, and increase opportunities for conversions and revenue growth.
To solve this part of the growth puzzle, companies like Delhivery, ZestMoney, Tata Cliq, Aakash Digital, Zomato and Upstox work with SquadIQ to generate more revenue opportunities.
We’ve helped businesses generate 2-5x funnel growth, and upto 40% higher ROI.
The best part? You pay for outcomes, not efforts. That’s great value for every penny spent!
With SquadIQ, businesses can leverage a pre-trained, industry-ready distributed workforce of 5000+ callers present across India, to:
- Connect with your leads and customers via omnichannel mediums like Voice, SMS, IVR and Email
- Follow-up and engage interested leads to convert them into customers.
- Manage all outbound communication through one platform and get access to real-time updated and analytics in your CRM.
Learn more about why leading companies trust SquadIQ for sales and fulfilment growth.
Request a demo to see how we can help you grow better.