When you start expanding your business, a lot of new positions will open up. One way to deal with this is through outsourcing. This is when you hire a third-party to do a job or perform a service, and there’s a couple of ways to outsource.
The first is to outsource an entire department by hiring a company that specializes in that area. For example, you can outsource customer service to a firm that maintains a team of trained call center agents. Or hire an accounting firm to manage your books.
The second is to outsource a specific task or project. So, you keep an in-house team for your core business and hire outsiders to handle less important stuff. That way, your employees are free to focus on your company’s growth or more impactful tasks.
Either way, your goal is to save resources in one area so you can prioritize another. Its ability to provide financial leeway and push growth is why outsourcing is so popular.