Becoming Self Employed

Added 30th October 2020

10 Popular Services Companies Outsource

Becoming self-employed is all well and good, but you need to make sure there’s a market for your idea, or it won’t work! So, what are the most popular services companies outsource?

As a self-employed individual providing a service, there’s a lot to think about. Not only do you have to make sure you bring in customers, you’ll also need to seek commercial law advice to help draft a proper contract.

That said, before all this, you first need to decide what service you’re going to provide. After all, there’s no point setting up a business if there’s no need for it; you’ll make no money this way.

So, to help you decide where to begin, we’re going to dive into the benefits of becoming self-employed, as well as the details of what an outsourcing contract is. Then, we’ll provide you with a list of some of the most common services businesses outsource. This way, you can get all the practicalities sorted before diving into your new venture…

The Benefits of Becoming Self-Employed

In today’s uncertain world, more and more people are choosing to move to self-employment. Although this is often a big risk, it comes as no surprise that this is such a popular career choice. After all, there are many benefits attached to working for yourself, including:

·         More control

·         Flexible working times

·         A better work/life balance

·         You get rewarded monetarily for what you put in

·        Tax deductions

·         Less money spent on travel and work clothes

·         Get to set your market worth

·         Hiring people you like and trust

·         Fulfilment

·         More opportunities for swift career development

·         Get to make use of your skills

·         Can do the bits you love and outsource the rest

·         Increased earning potential

·         Can try out new things

What is an Outsourcing Contract?

When you’re self-employed, you’ll likely be called upon by other companies to utilise your services. That said, freelance individuals like this often find that people take you on a wild ride when it comes to paying you for your dues.

This is why an outsourcing contract is so important. This will set out the work you’ve agreed to do for them, and agreed pricing for these services. This way, you have a legal right to any money they owe you, and are better protected against flaky clients.

Hiring a solicitor to help you draw this up is a sensible route to take. This way, you can ensure there are no loopholes for clients to take advantage of.

Why Companies Choose to Outsource

Before we dive into the 10 common services businesses outsource so you can get an idea of where your business idea stands, why would a company choose to outsource? There are a number of reasons for this, including:

1.      Cost control and efficiency

2.      Time efficiency

3.      More time to focus on the core activities of the business

4.      Creating free time for your employees to work on what matters

5.      Reduces expenses in the long run

6.      You’ll likely lack the skill and knowledge to do everything, so you can simply let the professionals do what they’re good at

7.      Shares out risk by distributing it to the outsourcing companies

8.      Guaranteed quality work (if you choose the right contractor)

10 Services Businesses Should Consider Outsourcing

As we’ve seen, the benefits of becoming self-employed speak for themselves. But, if you want to take control of your life in this way, you first need to decide where your skills lie, and whether there’s a market for them. To give you a greater idea of where the market lies, some of the most common services businesses outsource include:

1.   Social Media Marketing

First and foremost is social media. Most people think that they’re a whizz at social media, but little do they know that this is a whole job on its own!

The dedication required to monitor social accounts, post quality and engaging content regularly, and plan new ideas is astounding. For most people who don’t know anything about socials, it’s a lot trickier than it looks.

This is why having a designated social media marketer could make all the difference to a business plan.

2.   Web Design

These days, having a website is an expected part of being in business. That said, it takes more than this to catch peoples’ eyes nowadays. In fact, 75 percent of users judge the company based on their web design, proving just how important this first impression is.

Because of this, the importance of hiring someone to design your website can’t be overstated. A website should also aim to be updated every three years, so it’s key to outsource this so you can leave it to the professionals.

3.   SEO and Content Writing

Those without a working knowledge of how the internet works will see content writing as little more than a last resort. In most cases, people are unlikely to even know what SEO (Search Engine Optimisation) is, let alone what it entails. The simple truth is that people won’t even end up on your site without this, and there’s no use having a website if people never see it.

In fact, SEO is a highly complex art that only true experts can really provide thoroughly. Not only do you have to think about creating quality, optimised content consistently, you have to work on the SEO at the backend of your site. This includes all the nitty-gritty bits, like link-building, which go on in the background and make a huge difference to company exposure.

Ultimately, this takes a village, as they say. Having an expert SEO team at hand to help you with these in-depth details really will make all the difference.

4.   PR

PR is also key to any business, and requires a lot of experience to work effectively. Not only does the individual have to be able to devise interesting and exciting press campaigns, they also need to be able to get them spread across the web. This not only helps to build SEO on the backend, but also build exposure and brand awareness superficially.

Clearly, it takes a lot of hard work to ace this, and a business owner is unlikely to be able to achieve this on their own. So, why not leave it to those who know how?

5.   Accountants

Those who are self-employed may not realise the complexities of dealing with tax returns. This can be a huge source of anxiety for many business owners, as it’s a yearly obligation than can incur huge fines if not completed accurately and on time. Saving you the stress of it all may be a huge weight off your shoulders, so getting an expert to do it for you is only sensible.

1.   Payroll

If your business works on a micro scale, you may not have enough money to hire a finance manager who deals specifically with money. So, hiring an external company to deal with this is only the smart thing to do. They’ll take care of everything, including:

·         The complex and time-consuming work of paying your staff;

·         Dealing with workplace pensions;

·         And taking care of any bonuses, like cycle-to-work.

Ultimately, when we weight up time vs. cost, outsourcing this is actually really cost-efficient.

2.   HR

Again, small businesses are unlikely to have a whole team dedicated to Human Resources. This is where outsourcing comes in handy, as they can ensure their employees are taken care of, without having to pay entire salaries for this.

3.   Cyber Security

These days, cyber security and data breach threats are a huge concern for many businesses. The consequences could be devastating, not only leading to potentially crippling lawsuits, but destroying customer loyalty along the way.

The key to avoiding a data breach is to get one step ahead of the criminals. One of the best ways to do this is to hire a cyber security professional to monitor your systems and take note of any suspicious activity. With an expert on the case, this is one less issue for business owners to fret over.

4.   Events

Events are not something that you’ll be doing all the time, but when you do organise one, you’ll want it to be the best it can be. Investing in an events company to organise it really will be the best way to do this.

As we’ve seen, first impressions are everything. So, an events company can help you to achieve what you’re looking for, optimising your brand image along the way. In the long run, this should hopefully attract new customers, and bring your business into the light as someone to watch.

5.    Data Storage

Most people have no real clue about data management; it takes a real expert to understand the intricacies of it all to do it in a safe manner. Many companies will choose to store their data in the cloud, as it’s cheaper and more accessible, but this poses security threats. So, using a data management company is the answer, allowing small businesses tocapitalise on data storage without spending a fortune.

Ready to Start Your Self-Employed Journey?

Planning your self-employment journey is all about smart decisions. Answer the questions: “What am I good at?” and “Is there a need for this service?”, and you’ll soon come out with a fantastic business plan.

So, what are you waiting for? Now you know what sort of services businesses outsource, you can start planning for the future of your career.