The concept of delegating is well accepted but often difficult to implement in practice.
Sometimes the challenge is letting go when you have built the business and you know how you want it done. Sometimes there is no one on your team with any time to take on extra work – or the right skills to take it on efficiently.
To effectively delegate, consider outsourcing to an experienced, high quality resource.
While often thought of in connection with large organizations shifting work offshore, some very significant benefits can be gained by small firms as well. Specialized skill sets are needed in every organization, but small firms have a number of roles that don’t require a fulltime person. This can mean that work is put off, or it’s done by people who may not have the training.
Choosing the outsourcing route is not only a time and money saver for businesses, it’s an appealing way to work for a growing number of professionals who seek the flexibility and the challenges of working with several different organizations. As organizations streamline their operations, outsourcing has taken its place as a significant and growing trend.
Top tasks to delegate that will have a speedy pay back for your business:
Social Media: The support of an expert to give organization’s brand visibility and engage with online commentary has become a critical business building tool.
Information Technology: A robust, secure and reliable IT infrastructure is an essential foundation and outsourcing to a reputable firm that specializes in this area will make an incredible difference.
Bookkeeping and Payroll: A bookkeeper can process payroll, invoice promptly, follow-up on late payment, administer benefits, reconcile bank and credit card statements monthly and prepare financial reports.
Travel and Logistics: Anyone who has worked with a ‘super admin’ knows how amazing this resource is to a busy business person.
Human Resources: If you own a small business, having an in-house recruitment specialist doesn’t make much sense. It’s the same story with complying with labour legislation and keeping benefit packages up-to-date.
Simplify your life
Take advantage of this opportunity to simplify your life. Small businesses deserve top notch resources and outsourcing these important roles makes a cost-effective impact that’s well worth exploring!
We are happy to help organizations with their financial resourcing needs. We offer bookkeeping services, which can be combined with the support of a Virtual CFO to provide a flexible, scalable, and sustainable solution to meet the needs of small and medium-sized organizations for the long term. Learn more about our service offering.
About the Author
Jan O’Donnell is the Managing Director for the Finance & Administration practice and CFO for the Business Sherpa Group. Jan is a Chartered Professional Accountant (CPA) and has been providing Contract CFO support to high technology, small businesses and not-for-profit clients since 2004. Jan is passionate about combining her business and financial management expertise to provide a hands-on approach to building and enhancing the finance role within small and medium-sized organizations.