There are plenty of small and mid-size businesses taking on more than they can handle, and unfortunately collapsing under the weight of these burdens. The reality is most small and mid-size businesses fail within the first five years of opening. Usually, this is because these businesses are upside down on their balance sheet. There are several reasons this could be, but most of the time these businesses take expenses on the front end of starting the business. The idea behind this strategy is simple: take the losses at first and eventually the customers will come. But the reality is there’s a way to get around getting in the red with a small or mid-sized business. That solution is outsourcing with Resource Operations International. Here’s some reasons why successful small and mid-size businesses outsource with ROI.
Many small to mid-size businesses struggle with marketing. Some don’t even bother much beyond printing flyers and hoping for the best, while others try to use social media to promote their business. There’s so much to marketing, though. The first part is determining which customers are the right prospects. Then there is the messaging itself. Copywriting is more than just putting words on a page. There are targets to hit as well as SEO to consider. Using video and graphics matters too. An effective marriage of digital marketing with creative services is where marketing is supercharged. Unfortunately, hiring a professional skilled in this realm is costly. That’s why outsourcing marketing to ROI is a great idea. Instead of businesses being stuck on choosing to hire someone or hoping amateur efforts will bear fruit, ROI strives for an incredible return on investment for their clients with marketing services.
One area small to mid-size businesses may find tedious and time consuming is data entry. It’s basically a full-time job for any employee. They must add all the information to numerous excel sheets and platforms, make sure it is all accurate and determine what data to collect in the first place. It’s better to take the frustration away from current employees and place the task in the hands of professionals who can handle all of it properly. This will leave entrepreneurs feeling confident in their data and destressed about making sure it is getting properly organized and used.
A major issue many small to mid-size businesses have is slipshod bookkeeping. Whether it’s understanding the accounts receivable, the order to cash process, or simply knowing who owes and who is paid, bookkeeping for these businesses is challenging. The challenge is simply whether to hire a bookkeeper or figure out a bookkeeping program. The reality is even someone highly adept at learning a program who also possesses good instincts with numbers is overmatched by bookkeeping. Knowing where the money is and where it has gone are the basics of bookkeeping. But there’s so much more, and that’s why many small businesses have outsourced bookkeeping to ROI. Instead of hoping the cash is there, these entrepreneurs are able to get information right away and have the security of knowing their books are properly managed.
There are two major issues with payroll – getting the check out on time and making sure the taxes line up. This is not a simple task, and it is something many businesses have trouble with. While computers have made payroll easier, there are several issues going into processing. The biggest issue is the rate of taxation. Getting this wrong either shorts the employee money in their check or gives them too much and then they’re stuck resolving the burden with the federal government. For a small business, having great employees is the key to success, and if there’s a problem with compensation, they will look elsewhere. That’s why outsourcing payroll tasks with ROI is a great idea. A dedicated team skilled in handling payroll and getting checks out quickly ensures the employees in a small to mid-size business always feel like they’re taken care of. Getting payroll right is an entrepreneur making good on what’s possibly the most important promise the business can make.
Small to mid-size businesses must be smart about how they allocate resources. Outsourcing with ROI is a safe, effective way to stretch their dollars to deliver for customers and employees. Find out different ways outsourcing helps by contacting a local ROI consultant today.