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10 Reasons to Outsource Your Business

10 Reasons to Outsource Your Business

Outsourcing by sending some of your company’s work to a third party is an increasingly common way of doing business in the 21st century. It was first developed in the late 1980s as a way companies could gain a competitive edge in the newly global market, and is now used widely across a number of fields. Here are just some of the reasons you should consider outsourcing for your business.

1. Labor costs

One of the main reasons businesses began outsourcing is because it is an effective way to decrease labor costs. This is because, rather than employing a number of full-time staff who are on the payroll even when their services may not be required, outsourcing provides you with a flexible workforce who can work only when needed. What’s more, the cost of labor in some countries is significantly lower than it is in the U.S., which means that even if you are a small company or only outsourcing a small portion of your work, you could still see an extreme reduction in labor costs.

2. Infrastructure and material costs

In additional to decreasing labor costs, outsourcing also allows businesses to cut down on other expenses, such as materials and shipping costs. The cost of materials you use may be decreased by moving some functions overseas, where those materials may be obtainable for significantly cheaper. You may also save on shipping costs if the materials you need for the outsourced functions are available in their new location. You will also save on infrastructure costs, as these will become your outsourcing partner’s responsibility.

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3. Efficiency

Outsourcing also leads to increased efficiency, because you are entrusting non-central company functions to experts elsewhere. Since these vendors are specialists in their area, they are intimately familiar with its ins and outs in a way that members your employees couldn’t be without extensive investment and training. This way, the functions you’ve outsourced can be completed both effectively and efficiently by highly-trained experts in the field who are able to implement their skills and knowledge immediately.

For example, by outsourcing your accounting department, you are taking the burden of mastering complicated accounting duties away from your own offices. This allows you to focus more on your core business functions. Meanwhile, your accounting work will be completed quickly and smoothly by your outside experts of choice.

4. Core business functions

When you keep all of your businesses functions housed together, things get busy and complicated, and your core functions can get overwhelmed by outside issues. These back-end operations end up requiring significant funds and attention, which detracting from what should be your more central concerns. If you outsource those back-end pieces of your company though, it allows you to focus all of your attention and resources on more essential parts of the business. Comfortable in the knowledge that experts elsewhere are dealing with the other functions required to keep your business running, you can put more of your energy toward research, development, and other ways of improving your business’s products and services.

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5. Customer satisfaction

The increased efficiency and ability to focus on your core business functions that come with outsourcing will also have a large, positive impact on the satisfaction of your customers. You’ll be able to produce your products and services faster, which is always a hit. You don’t need to have a separate department at your place, most of the work, even accounting, can be outsourced, thanks to the internet. Plus, with non-core tasks in the hands of experts elsewhere, you’ll be able to focus more on your central functions, thereby improving the quality of products and services you offer. What’s more, by breaking your company down into specialized units, you increase your ability to respond quickly to changes or issues, so any customer complaints or problems can be handled more smoothly.

6. Risk management and continuity

Risk management is central to any business, especially during times of change, such as mergers, downsizing, or management changes. Outsourcing certain departments can help in these transitional times because it lets those areas of your company’s work remain unchanged. Plus, your outsourcing partner will absorb any of the risks associated with the departments it now oversees. This can also help your company maintain an appearance of continuity, as products or services coming from the outsourcing partner will stay the same, too.

7. Globalization

Sending part of your business overseas also enables you to plant your company more firmly within today’s increasingly global markets. These days, many American companies site their international sales as making up a third or more of their total sales. Depending on where your outsourced functions are located, you may also gain a time zone advantage from this new arrangement by having offices that are in sync with different world business schedules, allowing you to operate close to 24 hours a day!

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8. Flexibility

Adapting to changes in the market requires the flexibility to make changes to your company’s size and costs in response to a changing market. You need to be able to react in time to cut the necessary costs during downturns or to ramp back up when the market bounces back.  This is very difficult for companies with large, centralized infrastructures. Outsourcing can help solve this problem because it lets you have short term and flexible contracts with your outsourcing partners. Then your company can cut down or ramp up on staff, production, etc. right away in response to changes in the market.

9. Resources

Having some of your businesses functions outsourced also gives your company accessed to new resources and frees up resources that would otherwise be devoted to those back-end functions. With the outsourced aspects of your business now being taken care of by experts in the field, you’ll no longer have to use resources on recruitment, training, or salaries for those competencies. Plus, by creating a connection in a new, possibly overseas location, you may open your business up to more cost-effective resource streams.

10. Innovation

By outsourcing non-core functions of your company, you allow your business to focus its attention and energy on more central aspects of your work. Part of what your newfound time and energy can go into is developing new ideas. After all, the shift to an outsourcing model automatically opens your company up to some changes in structure, which is a great way to spur more foundational types of innovation.

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Meanwhile, the functions now being carried out by a third party outsourcer could also be home to innovation, because the staff in question will be highly trained specialists in the area at hand, they may also be able to innovate in ways that benefit your company.

Final thoughts

If you’ve looked at these numerous advantages to outsourcing and realized what a good option it might be for your business, it’s now time for you to make a plan of action. Decide which departments would be best outsourced to a third party and start looking around for experts who fit the bill. It may seem daunting at first, but it will do wonders for your bottom line.

Featured photo credit: pexels.com via pexels.com

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Last Updated on February 11, 2021

10 Secrets of Making Every Presentation Fun, Engaging, and Enjoyable

10 Secrets of Making Every Presentation Fun, Engaging, and Enjoyable

Not a lot of people are good at public speaking. You could even say that virtually everyone needs to get some practice, and preferably good guidance, before they can learn to stay calm when facing a room full of people. Having all eyes on you is an uncomfortable experience and it takes time to get used to. However, even if you can manage to control your stage fright and stay focused, it doesn’t necessarily mean that your presentation won’t put people to sleep. This is usually the case with long presentations on a very dull subject, with the presenter speaking in a monotone voice and dimming the lights to play a PowerPoint presentation.

You have to work hard to develop the right skills

If you want to be remembered and actually get people engaged, you need to make your presentation fun and enjoyable, without coming off as corny or desperate to please. I know, it doesn’t sound that easy at all! A good presentation during a promotional event or given to an important client can be a game changer for your business, so it is easy to get stressed out and fail to perform all that well. Luckily, giving an interesting lecture is something that can be practiced and perfected. There is plenty of advice out there on the topic, but let’s look at the most important aspects of giving a memorable and fun presentation.

1. Make your presentation short and sweet

With very long, meandering speeches you tend to lose the audience pretty early on, and from then on out it’s just a test of endurance for the few bravest listeners. Not only will people’s attention start to drop rapidly after sitting and listening to you talk for 30 minutes, but you also risk watering down your core ideas and leaving your audience with little in the way of key phrases and important bits of information to take away from the whole ordeal. Famous speakers throughout history have known the importance of condensing the information by using well thought out sentences and short phrases loaded with meaning.

JFK’s famous: ”It’s not what your country can do for you, but what you can do for your country,” expresses so much in very few words and gets the audience thinking. Ancient Spartans, for example were famous for their quick, dry wit, often demolishing their opponent’s argument with a single word or phrase. You’ll want to channel that ancient spirit and be as concise as possible when preparing your presentation.

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2. Open up with a good ice breaker

At the beginning, you are new to the audience. There is no rapport, no trust and the atmosphere is fairly neutral. Even if some of the people there know you personally, the concept of you as an authority on a particular matter giving a speech will be foreign to them. The best way to encourage a warm and friendly atmosphere is to get some kind of emotional response out of the audience right at the beginning. It doesn’t matter what emotion it is, you just need to connect with them on a more personal level. It can be shock, curiosity, laughter, knowing smirks, nervousness – whatever gets them out of that initial feeling of indifference. There are different kinds of effective ice-breakers, but generally speaking, the most successful ones utilize one of these tactics:

  • Joking
  • Tugging on their heart strings
  • Dropping a bombastic statement
  • Telling an interesting and relevant anecdote
  • Using a metaphor or drawing comparisons

You can make a small, self-deprecating comment, stir the presentation one way and then suddenly surprise the audience, use sarcasm, open up with a short childhood story that taught you a lesson, quote a famous person and elaborate on it from personal experience, use an inspirational anecdote or hit them with a bit of nostalgia. Just remember to keep it short and move on once you’ve gotten a reaction.

3. Keep things simple and to the point

Once you’re done warming up the crowd you can ease them into the core concepts and important ideas that you will be presenting. Keep the same presentation style thoughout. If you’ve started off a bit ironic, using dry wit, you can’t just jump into a boring monologue. If you’ve started off with a bang, telling a couple of great little jokes and getting the crowd riled up, you have to keep them happy by throwing in little jokes here and there and being generally positive and energetic during the presentation. You need a certain structure that you won’t deviate too far from at any point. A good game plan consists of several important points that need to be addressed efficiently. This means moving on from one point to another in a logical manner, coming to a sound conclusion and making sure to accentuate the key information.

4. Use a healthy dose of humor

Some of the best speeches and presentations in the world, which have been heard and viewed by millions, all feature plenty of humor. No matter the subject, a great speaker will use natural charisma, humor and beautiful language to convey their points and get the crowd excited about what they are saying. A great example of building rapport with the audience through the use of humor is Barrack Obama talking about the government building Iron Man.

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It is silly and fun, and absolutely not something that you would expect from a man in a position of power speaking in such a serious setting – and it’s exactly why it works. The more serious the situation and the bigger the accent on proper social behavior, the harder your jokes will hit.

5. Try to tell a story instead of ranting

Some people can do all of the above things right and still manage to turn their short and fun little presentation into a chaotic mess of information. You don’t want your speech to look like you just threw a bunch of information in a blender in no particular order. To avoid rambling, create a strong structure. Start with the ice breaker, introduce the core concepts and your goals briefly, elaborate on the various points in a bit more detail, draw logical conclusions and leave your audience with a clear takeaway message. You want to flow naturally from one part to the next like you are telling a big story chapter by chapter.

6. Practice your delivery

Standing in front of the mirror and practicing a speech or presentation is a technique as old as mirrors – well, come to think of it, as old as human speech, since you can see yourself reflected in any clear and calm body of water – and that means that it is tried and true. The theory is incredibly simple, yet the real problem is actually putting in the effort day in and day out. Work on your posture, your tone of voice, accent, pauses between sentences and facial expressions. The most important thing is to talk slowly and loudly enough to be heard and understood clearly. Many famous speakers, such as Demosthenes and King George VI, overcame speech impediments through hard work.

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7. Move around and use your hands

Although you won’t instill confidence in your project if you are very jittery, moving around erratically, not knowing what to do with your hands and making fast movements, standing dead still can be just as bad. You shouldn’t be afraid to use your arms and hands when talking as it makes you seem more passionate and confident. The same goes for moving around and taking up some space. However, try to make slower, calculated and deliberate movements. You want your movements to seem powerful, yet effortless. You can achieve this through practice.

8. Engage the audience by making them relate

Sometimes you will lose the audience somewhat in techno-babble, numbers, graphs and abstract ideas. At that point it is important to reel them back in using some good, old-fashioned storytelling. Make comparisons to events from everyday life that most people are more than familiar with. By making things look simple, not only will you help your audience get a better understanding of the subject by enabling them to visualize the information more clearly, you will also draw a connection between you. After all, you are all just regular people with similar experience, you just happen to be performing different roles at the moment.

9. Use funny images in your slides

Although slides are not really necessary at all times, if you do need them to make your point and present your information more effectively, it’s best to liven them up. They say that facts aren’t always black and white, and your presentation should reflect this. Add a bit of color, make the information stand out and use an interesting animation to switch from slide to slide. You can use the slides to add some more humor, both in terms of the text and the images. An image that is used to elicit a positive response needs to be funny within the context of what you are discussing. For example, if you are discussing the topic of authority, an image of Eric Cartman from South Park in a police uniform, demanding that you respect his “authoritah,” is a nice way to have a bit of fun and lighten things up.

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10. End on a more serious note

When all is said and done you will want the audience to remember the core concepts and keep thinking about what you have said after the presentation is over. This is why you should let things naturally calm down and end with an important idea, quote or even a question. Plant a seed in their mind and make them think. Let us turn to Patrick Henry for a great way to end a speech: “Is life so dear or peace so sweet as to be purchased at the price of chains and slavery? Forbid it, Almighty God! I know not what course others may take; but as for me, give me liberty or give me death.”

As you can see, there is quite a bit to learn when it comes to giving a good presentation, one that is both memorable and fun. Be sure to work on your skills tirelessly and follow in the footsteps of great orators.

Featured photo credit: Austin Distel via unsplash.com

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