Doing Everything In House

As Entrepreneurs grow their businesses curtailing or minimizing overhead is important. The philosophy of doing everything in-house might need to be reconsidered.

Though outsourcing manufacturing and services, especially to foreign countries, has become taboo, Entrepreneurs might want to seriously consider outsourcing certain services as a business strategy.

To cut fixed costs and make them more variable, Entrepreneurs need to look at the benefits of outsourcing in-house services such as payroll, marketing, training, human resources, IT, design, engineering and project management. Outsourcing expertise in these areas may be more cost-effective than developing competencies in-house.

When considering creating a function or expertise in house, ask yourself if you would be better off outsourcing such services.

Ravi Patel

www.patelCFOservices.com

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Published in: on December 6, 2016 at 3:47 am  Leave a Comment  
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