You spend a lot of time tending to your business, ensuring it’s healthy and growing. But what about all the other stuff that goes into running a business? It’s important to understand that supporting services are not secondary to growing your company. These supportive services are the behind-the-scenes tasks you need to keep your business running smoothly.
As an entrepreneur, you are faced with many decisions daily. However, one of the most critical considerations is figuring out which supportive services will help your business grow as efficiently as possible.
This blog post will walk you through several business support services to decide which ones might be right for your company. Whether you’re just starting or want to improve efficiency in your current organization, these tips can assist you in streamlining operations and reaching new peak performance levels.
A business support service is something ancillary to your core product or service. These services aim to assist with various activities or functions necessary for your company's operation but may not necessarily be central to your core business.
HR Support Services, for example, include employee benefits, training, recruitment, and onboarding/offboarding processes. Some of these activities are necessary for the smooth operation of your company, while other things are helpful but aren’t essential.
Because these business support services are not core to your product or service, it can be tricky to know which ones to choose. The best strategy is to identify the business functions that are necessary but either take up too much time or fall outside your area of expertise.
When deciding which business support service is suitable for your company, it’s essential to consider how employees are treated and engaged. Another crucial aspect of your business is ensuring you have the right people on board who will help your organization achieve its goals.
Employee benefits, such as health insurance coverage, retirement savings plans, and paid time off, are essential aspects of any business's human resources. Because these elements are necessary for the smooth operation of your company, it makes sense to outsource them to a third party.
As an entrepreneur, it may be tempting to handle your bookkeeping yourself, especially if you have some accounting experience. However, having an accountant or outsourced accounting firm handle your company’s financial reporting is a great way to boost efficiency.
It takes up too much time that could be devoted to other tasks and may also be outside your area of expertise. Adding people to your team who are good at accounting is an excellent way to ensure your financial records are correct.
Marketing and advertising are two important business support services that will help you reach more customers and grow your business. This is a function that is crucial to the success of most businesses but often gets overlooked.
Unless you have experience marketing your company and creating effective advertising campaigns, it is best to outsource this function to a third-party marketing and advertising expert. They have the skills you need to reach the right customers and create the image you want for your company.
When you start, you may not have the capital to build an office or hire an architect to design your space. However, these are crucial factors in the smooth operation of your business. Hiring a reputable architect is one of the best support services for this function.
Many architects work with clients on a project-to-project basis, meaning they will design a building or space for you based on your specifications. An architect with experience designing offices for businesses can help you create a functional space that is right for your team.
This can save you time and money and ensure your company operates smoothly.
Depending on your business, you may need to store inventory or products before they reach your customers. Hiring a third party to handle this function makes sense if you don’t have the space or capability to do this within your organization.
If you are in the eCommerce realm, you may want to outsource your shipping and logistics needs to a third party. This will ensure your products are shipped to customers as efficiently as possible and that your company is meeting the level of service customers expect.
Data support services refer to collecting, processing, and analyzing data to assist your organization in making better business decisions and predictions based on current and historical information. Data support services can help your business in all areas, such as sales, operations, and marketing.
Data services can range from collecting and analyzing customer data and purchase histories to predicting future trends in your industry based on long-term data sets. By hiring a data service provider, you can access a wide range of data sets that may be hard or expensive to collect or analyze on your own.
When determining which business support services are suitable for your company, it is helpful to consider which tasks require expertise outside your team’s areas of expertise. Outsourcing these tasks to a business support service can help you focus on the most important aspects of achieving your goals.
While it is important to keep overhead costs low, ensuring you have the support you need to achieve your goals is also essential. SINQ can help you find the right combination of in-house employees and outside business support services to ensure your company runs efficiently.
Running a business can be challenging, so it’s essential to have access to all the services you may need to support your organization. This ultimate guide to business support services will walk you through the different services that can help grow your company and help you decide which ones fit your organization best. If you recognize any need in your business, we have the staff to help! Our team of virtual assistants has a range of expertise from marketing and advertising to HR and is equipped to help take your business to the next level.