Outsourcing is a huge topic of discussion these days. A lot of entrepreneurs are looking to outsource their work in an effort to free up time for other business pursuits, and there are a lot of options on the table when it comes to outsourcing.
1. Hiring an accountant
Hiring an accountant is one of the crucial first steps of the entrepreneur process, and it’s also one that many entrepreneurs tend to put off for as long as possible. Once you’ve figured out your profit margins, though, you’ll need to know how much money is coming in vs going out – which means hiring an accountant like tax accountant EW partners is your best bet.
2. Accounting software
Outsourcing your bookkeeping tasks to an accountant is helpful – but only if you have the tools to let them know what’s going on. Fortunately, there are several online accounting software options that entrepreneurs can use for free – allowing you not only the ability to keep track of where your money is coming from and going to, but also your ability to manage your other employees’ expenses.
3. Sending out client invoices + reading client emails
There’s a lot of back and forth that goes into managing client relationships – and the number one way you’ll get frustrated is if you’re dealing with all of it yourself. More than likely, you’ve hired employees to help you with certain aspects of your company – so don’t let them do the easy stuff right out of the gate.
4. Reading employee expenses
One less-intensive way to manage client relationships is by outsourcing client requests to individual employees, who can send receipts and other documentation back to you for approval. If you’re not willing to hire an assistant yet, then at least set up a simple Google Form with all of the necessary fields for employees to fill out – and spend the time saved on more important tasks.
5. Keeping track of your personal finances
Believe it or not, life doesn’t stop when you start a company – which is why you need to make sure that your personal and professional lives are separate. Getting a simple online banking account will help you keep track of your money so that you don’t end up making any costly personal mistakes – and hiring an accountant (even part-time) can be well worth it for this reason alone.
6. Managing the bank/payment processes
Once you’ve got the money coming in and going out figured out, it’s time to manage your company accounts – which means managing your bank accounts. This can be done via online banking services, too – but it’s also something that should never be delegated unless absolutely necessary. You’ll need to find a bookkeeper or accountant for this task eventually, and it’s best to get your feet wet right from the start.
7. Doing social media updates
Every entrepreneur knows that social media is an integral part of their business plan – but did you know that you can also rent out your services on sites like Fiverr? Utilizing this online marketplace not only allows you to generate passive income but also create a business that can run completely parallel to your own – allowing you more free time than ever before.
If you’re looking to make the most of your time as an entrepreneur, it’s crucial that you take advantage of outsourcing where possible. Even though there are several tasks that should be handled by yourself (or another company employee), these 7 items can easily be outsourced – giving any entrepreneur a perfect chance to grow their business from the ground up.