Business Team – What To Look For In Outsourced Services
Business Team What To Look For In Outsourced Services
For the small business owner the term business team usually is interpreted as people on the payroll and that's a luxury that many small organizations simply can't afford. But every business has a team even if they don't realize it.
Being a small business owner requires a certain entrepreneurial mindset and a passion for the business but it is a rare business owner that can do every task required effectively by his or her self. There are functions common to every enterprise like billing, bookkeeping, advertising and promotion and legal issues that most owners simply aren't adept at and outsource to others. These "others" are your business team and you need to choose them wisely.
There are some "team members" that require more scrutiny than others. Professional services for example like a CPA or an attorney should be chosen not just on cost per hour but on the value of that charge. Law is a broad field. What specific experience in your business does your attorney have? And if the law firm is a large one, who will be doing your work and will they be supervised by an attorney who has the experience you need.
The same considerations should come into play when choosing a CPA. Another key player is your banker. If you're not dealing with someone who has experience with other businesses in your industry of approximately the same size, then they really will not be in a position to fairly underwrite you as a credit risk. This could result in lower lines of credit or less favorable interest rates.
The important lesson to learn here is that in order for a business to grow every aspect has to be handles efficiently and effectively. It is unlikely the owner can do it his or her self. The must build a business team that has experience in the industry and that can serve the company best.