Every business owner needs a little help from time to time. The mark of a good entrepreneur is admitting that. Of course, an excellent entrepreneur knows the best resources to use to get the help they need. As a business owner, it can be difficult to know whether it’s best to hire someone in-house or engage a third party business as an outsource. So what is the best choice for you?
There are three choices here. You might decide you want to hire a particularly experienced, qualified, and talented individual full time. Of course, anyone that fits the bill knows their worth and will demand a large salary. This can be too much for the startup or small business to handle.
Your second choice is to bring in a consultant. This can be really handy if you want their knowledge to be imparted to your employees. Training companies are great, but they all go home without watching, coaching, and adjusting the practice of what has been learned. A consultant tends to stay with a business for several days to help iron out the creases after training.
Your third choice is to engage a specialist company. Outsourced IT services, marketing, and manufacturing makes a lot of sense for a small business. Pick companies that offer pay as you go terms if you think you might not need them very often. These companies have a number of permanent employees adding up to a wealth of knowledge and expertise. It makes sense to dip into that resource.
Customer services, logistics, and sales often require large teams of people to handle the work. It takes a long time to recruit, develop, and build a team. It also takes a lot of money to pay all those people while they’re still not fully trained. Outsourcing these services means you have people that do the job all day ready to go for you. You can learn more about how these businesses work so you can consider installing your own in-house team in the future.
There are some things you simply wouldn’t want to share with a third party company. When it comes to business development, it might be best to work with people in-house. You can have these people available to you at all times, and it allows you to work very closely with them. Sometimes this is the best way to get things done at high speed. A dedicated resource of your own gives you the chance to develop inspiring working relationships too.
It might be difficult to find this sort of person. And it might be even more difficult to pay them. But in this sort of role at a senior level, you should expect them to be bringing in more than enough new business to cover their own salary. You might be looking for a second you. This is a person that thinks like you and is committed like you. Sharing the workload here could be the best thing you did for you and your business. To hire or not to hire?