In 2017 34% of Companies Will Outsource in 2017
Outsourcing has been a normal business practice for decades. It’s especially used in Start-ups who may have access to limited resources and choose to hire outsiders to help them run and grow their business. This may help startups innovate, improve speed to market and increase their bottom line. Asad Khan, founder of ePlanet Communications, advises startups to begin outsourcing as a growth hack for their businesses.
Studies show that 27% of companies outsource to reduce expenses. (1) This “growth hack” is essential as nearly 50% of all startups fail because they exhaust their budgets—and entrepreneurs are discovering other advantages to outsourcing:
- Outsourcing can increase productivity and competitiveness 10- to 100-fold;
- 34% of companies use outsourcing to grow their business in the modern global economy.
According to Khan, knowledge gaps accounting for 18% of startup failures, who founded ePlanet Communications, a specialist in the global BPO and Contact Center market, asserts that outside expertise provides needed intellectual capital for small business success.
Khan says that to compete as a startup in today’s market place, you need to be a smart, agile and innovate leader.
“Even the smartest entrepreneur cannot be an expert at everything; and even if you are, there are simply not enough hours in the day to accomplish all that your startup requires,” said Khan.
Khan further elaborates that outsourcing to experts not only saves the trouble of performing tasks outside of a company’s core competencies, but also cuts down on the cost of hiring full-time specialists.
Outsourcing reduces overhead, allowing for additional investment in growth, development and innovation. In fact, 78% of entrepreneurs believe that freelancers give them a competitive edge.
ePlanet Communication is a global business process outsourcing provider with extensive experience in call center operations, digital media solutions, and direct response solutions. For more information, check out: http://www.eplanetcom.com
Image Source: Google Images