You might be able to start a small business to meet the needs of a larger company looking to outsource. In a downturn, large corporations look for ways to cut costs everywhere, while in a growing economy, corporations may look to outsource new initiatives or help manage overflows. Outsourcing, in any case, is a popular way for large businesses to manage workflows and costs more efficiently.
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Stories of success
Does this appear to be a tall order? Perhaps not. Take a look at the success stories of other small business owners. Many entrepreneurs have discovered a market niche that they can combine with a personal passion. Then they took their business operations to new heights, achieving tremendous success.
An illustration of a potential business
Assume you work as an accountant or bookkeeper in a small town or even a larger city. Some of the smaller businesses in your area may not want to pay a CPA to keep their books or do their taxes. They may be looking for a more cost-effective way to manage their bookkeeping and accounting and may want to outsource their work to a bookkeeper. You have an excellent opportunity to market your services. If you’ve been laid off and want to start your own business, you can market your services to small businesses and save them money on a CPA.
The type of small business you want to start is determined by your skills. You should go that route if you are a financial type. If you have training in web design, you have a small business idea. You get the picture. Play to your strengths and come up with a small business idea that fills a niche where you believe businesses may outsource.
Business expansion through outsourcing
If you already run a small business, think about expanding your customer base by taking advantage of outsourcing opportunities. Are there any small or large businesses in your area that outsource or would like to outsource certain tasks? What method do you use to find out? Call the director of that area of the businesses in your local area, whatever your area of expertise or small business is. Before you call, prepare a pitch. Find out what they require. Let them know if you can provide it.
Prepare price quotes
If they knew you existed, there could be a lot of online businesses that would like to use your services. Make use of social networking sites. Also, become familiar with online bidding sites and keep your profile active to receive the most inquiries.
Sell your talents
You must have professional-level marketing materials available for potential clients in order to sell yourself as a viable outsourcing source. You can do this yourself if you are an expert in desktop publishing. If not, you should hire someone to create these materials for you. In the long run, it will pay for itself. You’ll need business cards, a brochure, and work samples.
Make yourself the boss
If you can find a niche in your industry where companies typically prefer to outsource their work, you can start a new business working for yourself and do quite well, or you can expand your current business.