Startup companies are small companies at the initial stages of operations that aim to develop products and services they think are in demand.
Startup companies have been increasing too.
According to the US Small Business Administration, in 2018, the US is home to 30.2 million small businesses.
That number increased to 30.7 million in 2019, adding 1.8 million net new jobs in the US.
Most startups company, when starting, usually use their own money or make use of crowdfunding and loans to boost their resources.
Also, they’re more prone to risks compared to already established companies.
Is Outsourcing Helpful?
Did you know that some of the reasons startups fail are because there’s no market need for their products, they ran out of money, they have poor marketing, and they ignore customers?
Also, did you know that a lot of startup companies spend around 40% of their working time to non-income generating tasks such as hiring, HR tasks, and payroll?
So are outsourcing companies essential to startup companies?
Also, how do you increase your chances for success as a startup company?
Well, there are principles in outsourcing that can help startup companies face the main reasons startups fail. Also, outsourcing can increase a company’s chances of success.
For example, when startups outsource non-income generating tasks, they have more time to focus on strategic tasks and revenue-producing activities and in the process save or earn money.
When it comes to marketing and taking care of customers, outsourcing can also help in boosting a company’s capacity in that area by adding more manpower and assistance to the task.