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Outsourcing
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Article
2: Risks Of Outsourcing
Outsourcing doesn’t come without pitfalls. As with any other business activity, you have to manage it right to succeed.
Cash flow is an obvious risk. An IC costs money. With the time you save by outsourcing, you might need to take on more clients, close more sales and bring in more revenues to cover the expenses of a contractor.
Loss of control can be a risk. You can’t simply turn over a project to a contractor and walk away. To the get the results you want, you have to remain actively involved with the outside provider.
There is also the danger that a contractor will fail to perform. If your small business hires the services of a big organization, your account could get buried in the shuffle. If your provider is a one-woman operation, she may not have the resources necessary to complete the job you assigned. Finding contractors that are good matches with your company is critical to outsourcing success.
You can minimize these potential risks—and maximize your rewards. If you’re new to outsourcing, start slowly. Begin by farming out tasks that are least critical to your business. Measure results and costs as you go. Weigh the risks you incur against the rewards.
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