Regardless of industry, growing your business is important. Yet, as it grows, it will be subject to more expenses. With more and more laws requiring business owners to provide benefits like health insurance, many small businesses feel they have to limit the size of their business or close it down. Thankfully, technology has given small business owners the power to grow without breaking the bank. Here’s how you can do it.
Understand the Needs of Your Business
Before you can create a plan to grow your business in the most cost-effective manner, you must first understand exactly what it is your business needs. Of course, this task can be made difficult or you can keep it simple. You can start simple and then revisit those needs and expand. For now, you can start by examining the following:
- What are the things that you need to get done that you don’t have time to do?
- How much time do you spend on administrative tasks?
- How much time do you spend with current clients?
- Are you investing adequate time into client acquisition?
- Do clients or potential clients wait days for return phone calls and email responses?
After you answer those questions, spend some time considering the priorities for your business. Remember that as your business grows, you can always reassess. You can always focus on other areas of your business later. The purpose here is to choose just one or two priorities. This is to keep the costs down as you grow.
Research Your Options
This is an important stage in growing your business in a way that is cost-effective. Your main options are:
- Hire full time employees.
- Hire part time employees.
Hiring employees is an important part of business growth and an important part of our nation’s economy. Yet, it’s not always financially feasible for a small business. Wage laws, legal requirements for health insurance, benefits such as life insurance and retirement, training employees, equipment costs, and overhead can be enough to keep your small business from growing. Getting the help you need can be hard to afford. Then, you must consider whether you truly have enough work to keep someone busy for the number of hours you hire them to fill. Otherwise, it can be a drain on your business and it can lead your employee to look for another job where they feel more useful.
Outsourcing gets a bad reputation. Often, it is more accurate to consider the concept as remote delegation. You don’t have to send your needs overseas. You have options available to you here in the United States. Choosing the right remote partnership can give you more time to focus on bringing in new clients while you save money. You have the option to get help only for the priorities you defined earlier and you don’t have to pay for overhead, health insurance, training, or other expenses associated with hiring employees.
Partnering with Clients ARM Saves You Time and Money
On average, partnering with Clients ARM saves small business around 40% when compared to the costs of hiring an employee. Our clients get more than 30 years of professional experience to get their needs met. Some of the services we offer include accounts receivable management, credit management, customer service, client intake, electronic health insurance claim filing, collections, and more. If you’re ready to learn how you can grow your business by delegating to Clients ARM, schedule your free consultation. We can help you choose your priorities and explain how our services can provide your clients with better satisfaction all while keeping your costs down. What are you waiting for?