As a business owner, you know that your business is always at risk. Overhead, shifting economic conditions, increasing employee wages, regulations, and tax changes are constantly threatening to sink your dream. But if you want to grow your business, you must be willing to adapt to this shifting landscape. One of the ways to do this is to outsource some of your business tasks to the right business partner.
Reputation, quality, and price are all factors that should go into your decision, but one should not outweigh the others. Here are some things to keep in mind when evaluating potential outsourcing partners:
Outsourcing the wrong tasks can sink your business. You need to be strategic in choosing which tasks to outsource and which to complete in-house. If you find yourself staying up all night to work on payroll and package up goods, and too tired the next day to make smart business decisions, consider reaching out for help. Organizations like Ohio Valley Goodwill Industries can help with tasks like product assembly, packaging, shipping, and kitting. Take a free tour of their facilities to see what they can do for you.
Reputation matters. While your company may have a great reputation, it can be tarnished if you outsource work with a less-than-reputable business. Ensure that you are informed of the reputation of any business you partner with. At the very least, run a Google search to see what pops up about them in the news. Ask friends and colleagues about their experiences with the integrity and business practices of the other company before you enter into any agreements.
The lowest bid isn’t always the lowest bid. It can be tempting to choose an outsourcing company based on price alone. But if the lowest-bidding firm cuts corners with quality, or turns out not to deliver products on time, you could end up paying much more out of pocket due to returns, ruined product, or missed delivery dates.