Busting Some Of The Most Common Myths About Outsourcing

When exploring a new industry or a new facet of an industry such as virtual assistant services, it can be difficult to sift fact from fiction.

With that in mind, there are some falsehoods about outsourcing that have regrettably spread and created some unfortunately common misconceptions.

Here are some of the most common and the truth behind them.

Almost Any Job Can Be Outsourced

If a job can be delegated and described in a job ad, it can be outsourced. The vast majority of people who outsource jobs do so not necessarily because of cost savings (although that can be a factor at times) but because they are looking to plug a skills or knowledge gap.

Whilst customer service and data entry are both jobs that are commonly outsourced, copywriting, graphic design, social media and even consulting work are all commonly outsourced.

Savings Come Through Efficiency

As anyone who has worked with freelancers can attest, the biggest benefit for both outsourced workers and the company requesting the work is that they only pay for the work they need, which is the true source of savings, rather than compromising quality.

Contractors Work As Closely Or As Distant As The Business Needs

Some business leaders prefer a “point-and-shoot” approach where they give an outsourced contractor a set of tasks to complete and clear expectations regarding timescales before largely leaving them to it, whilst others prefer a much closer connection.

There’s a wide spectrum between contractors who just do what is asked and only get in touch when it is done, and virtual assistants who are almost akin to consultants who work closely with a company for mutual benefit. In both cases, contractors take immense pride in what they do.

Small Businesses Get The Most Benefits

There is a belief, largely due to how many people outside of the business world interact with outsourcing, that only large companies use it, but in reality, small businesses are likely to get the most benefits from outsourcing and form the closest connections with their freelancers.

Why Should You Consider Outsourcing Your Graphic Design?

There is a desire by some companies to keep every part of their operations in-house wherever possible, but there are plenty of benefits to both cost and quality that come from outsourcing to external specialists,

Nowhere are the benefits of outsourcing most easily noticeable than in the world of graphic design, and for many small businesses outsourcing these essential assets is the norm and not the exception.

One reason for this is that hiring a skilled graphic designer in-house can be quite expensive; graphic design skills take a long time to develop and there is a correlation between quality and price in this regard. The best artists typically know their own value.

However, there is a way to lower costs without sacrificing quality in the process, which is to outsource individual graphic design tasks as and when they are required.

For businesses that only have occasional graphic design needs that cannot be fulfilled using a suite of brand stationary and universal assets, outsourcing is an ideal solution, as it means that businesses only pay for the work they actually need.

In-house graphic designers can sometimes face the problem of not having enough projects to justify a full-time position, with no truly elegant solutions.

The options are to either have an in-house graphic designer undertake multiple roles (often in marketing, content writing and editing), have them work part-time hours which may limit recruitment pools or use in-house graphic design assets more heavily to justify the recruitment cost.

The latter option can work in some businesses that extensively advertise or use social media regularly, meaning that there is a justification for the creation of many different graphic design assets.

However, not every company requires constant new art and design assets, and for those that don’t, it is best to pay for quality by outsourcing what you need only when you need it.

Why Outsourced Accounting Is Growing Around The World

Outsourcing of many kinds is a great way for firms to have efficient functions carried out at reduced cost, enabling them to increase profits and grow faster. Now, new research indicates that bookkeeping and accountancy is one of the fastest-growing areas of outsourced services.

Referring to new research showing a 40 per cent growth in this area across the globe in 2024, the Rochester Business Journal in the US was quick to ask why such rapid growth was happening.

Speaking to professionals from six firms in the local area, it found some clear pointers. One accounting partner, Hope DellaStua, said “This trend is driven by the desire for cost efficiency, access to specialized expertise and the need for advanced technological solutions.” 

What this means, she explained, is that the outsourced services provide access both to accounting expertise and the necessary technology, while the firm outsourcing its work can concentrate on its core activities.

Another accountancy expert predicted that this growth is certain to continue, while a third noted that the pandemic may have had an impact, as it became so clear that people could collaborate effectively without having to work in the same location.

These and more benefits might have been cited by experts over in the US, but as the trend is a global one, they are evidently being recognised by firms in many different countries, including here in the UK.

Indeed, the point about the pandemic and outsourcing to remote workers is borne out by British business trends. Research by SpareMyTime published last year revealed that 48 per cent of UK firms were using outsourcing of one kind or another, up by 41 per cent from pre-pandemic times.  

Funds allocated for outsourcing stood at £571 million, compared with £500 million in 2022, while the growth was spread across various areas of activity.

With the benefits of outsourcing being increasingly recognised, maybe now is the time for your business to do so as well.

How Outsourcing Social Media Can Help Your Business Grow

Maintaining a strong social media presence is a must for businesses in the 21st century, as customers now expect to be able to get in touch with you via some kind of platform or other, whether that’s Facebook, Instagram, X or something else.

However, it can be very difficult to find the time to dedicate to doing this properly when you’re also trying to run your actual business – which is why so many enterprises are now starting to consider outsourcing social media marketing to ensure that the job gets done properly.

There are all sorts of benefits associated with going down this route, everything from saving your company time while making sure that accounts are manned constantly to saving you money since outsourcing is typically less expensive than it would be to hire a permanent member of staff.

Consistency is key when it comes to socials and if you find yourself only posting every once in a while, wondering why you’re not getting the level of engagement you’re looking for, passing the baton onto an agency can prove very useful indeed.

They’ll be able to devise a bespoke social media strategy based on your industry, competition and target market, coming up with an online content calendar for the year, managing all your accounts and posting well-designed specific posts that help to spread the word. 

You’ll also receive full reports and analysis of the results, showing you the progress you’re making and where your traffic is coming from, something that you’d be unlikely to have time to achieve if you were doing it all on your own.

What is important, however, is to choose the right agency for you and your company. You need to be able to build a close relationship with them so that they understand you and your brand values, so always do due diligence and make sure that you’re a good fit. If you’d like to find out more about the services we provide, get in touch with the VirtualPro team today.

Personal Finance: What It Is and Why It Matters

Personal finance is not only about just managing money. It also means making smart financial decisions which involve earning, spending, saving and investing.

Imagine you had a bucket and that bucket was filled with all your earnings — money you collect from your job or any other sources. So now you have to decide the way forward on how to use that money- would you prefer to utilize it for immediate desires or possibly save some of it for instance; emergencies buying a house, or going to college?

The Art of Startup Financial Modelling: fiction meets finance

When it comes to forecasting revenue for your startup, consider it a work of speculative fiction — akin to a Hollywood script which is “based on a true story.” Your projections might be grounded in your startup’s past performance, but the reality is, the future is a wild and unpredictable beast.

In fact, if your financial future closely mirrors your past, you might be running a traditional business, not a startup. That’s perfectly fine, but it’s not what venture capitalists (VCs) are looking for.

3 Ridiculously Simple Ways You Can Start To Better Manage Your Finances

Money is a rather unfortunate necessity of life. First, we have to find a way to get it, then we have to make it, and then we have to decide what to do with it and hopefully have a good life in the process.

Unfortunately, no one ever really tells us how to spend our money, at what ratio, and by which means we should save and invest. We’re not taught how to prioritize it but not let it run our lives, how to have money in times of want and need, and also how to handle the bigger paychecks we earn as we age.

We have to educate ourselves and figure things out through trial and error while trying not to become broke in the process. (I’ve failed at that one a couple of times…)