The likes of Google, Facebook and Twitter demonstrate that the traditional corporate business model doesn’t have to be the only route to success. The business world has become smaller, more agile and more developed.
How can businesses launch and operate on a fraction of the costs of businesses of the past?
It’s funny how a global recession has a habit of focusing the mind. Everything has got smaller and, some would argue, so have the profits businesses make. Although this is not necessarily the case for all businesses, those that have considered the importance of infrastructure are now seeing the benefits. If the solution is passing on the risk, outsourcing is the key.
Twenty years ago you needed a large office to house your computer; now we carry them around in our pockets. Today many aspects of our lives are outsourced and we don’t even think about it. Music, personal and business data, email, are all things many of us outsource. The traditional models are gone and unless we realise this many businesses will go the same way.
What does this mean for my business?
The old restrictions of office space, staff and technology departments are being removed. More efficient, more environmental and more effective ways are taking the lead and are being adopted. Virtual offices, virtual PAs and virtual assistants provide solutions for businesses large and small. Having the option to outsource your business administration and telephone answering can offer huge possibilities for any business model but, more importantly, can offer excellent flexibility: all the benefits of having a fully staffed office without the costs, risks or hassle.
How much of the cost, infrastructure and staff do you actually need to run your business? It’s rare for businesses to use their resources/finance to capacity. Many smaller businesses just do not have the spare finance to operate a state of readiness for growth nor are they equipped to cater for downsizing quickly. Virtual offices are not the answer for every business but they do offer greater flexibility and ability to adapt to the fast changing markets. Simply outsource the risk.
What can be easily outsourced?
In truth most businesses can outsource many aspects of their operations. The factors that hold us back are the factors which stop us from moving our businesses forward: fear of the unknown. Basically you are asking someone you don’t know to take on the front of house of your business and in some case even more responsibility. The question is not “can I outsource?” but “what aspects should I outsource?”. The answer might be more than you thought and there are many companies which are keen to prove to you that they can succeed for you. After all their survival depends on your success!
Can I really outsource my administration and support to a virtual business?
Yes, it really isn’t that complex and in fact it’s a lot easier than employing. The costs today of employing your own team are high regardless of how clever you are about it. Salaries, office costs, holiday cover, sickness cover, computers, phones, heating, utilities in general plus employment costs themselves. Then on top of all this, what if you need a larger team? Suddenly you start to spend your time looking in on the business rather than out and forward for the business.
Outsourcing is a logical solution. There are many companies which offer virtual services such as telephone answering, virtual assistants, virtual PAs, and virtual offices. They all have their own slant on the concept. Which company to choose depends on your needs and preferences: some will offer basic telephone answering whereas others will offer solutions that can service your business for years to come.
As managing director of Need More Time I have seen hundreds of companies take the concept of a virtual office and enjoy the flexibility and cost savings available.
Michael Bolt is the managing director of Need More Time, one of the leading virtual office service providers in the UK.
www.needmoretime.co.uk