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How To Choose The Perfect Outsourced Media Service Provider For Your Business

StrategyDriven Managing Your Business Article | How To Choose The Perfect Outsourced Media Service Provider For Your BusinessRunning a business comes with many pressing responsibilities, and if firms are not careful, they can get buried under them all before long.

It’s also a difficult economic landscape out there, as businesses find themselves short on time and options both. That’s why it’s important to work the right way, with strong B2B relationships and effective outsourcing strategies. That way, your company can devote its attention elsewhere, focusing on the core processes that jettison you forward into a prosperous future.

For example, a media service provider can have an enormous positive influence over your operations. But how do you choose the right one? You can find out for yourself below.

Outline Your Needs

In the interests of both time and efficiency, start by acutely defining exactly what you want, because only then can you choose the right media service provider to outsource to.

Avoid vague terms and generalisations, and where possible leave no room for interpretation. Do you want access to intricate user analytics? Maybe you want somebody to focus on the laborious tech and logistics side of things, while you focus on getting creative with your content? B2B relationships can’t thrive on guessing games and constant back and forth questioning to get from point A to point B, so it’s important to define the level of collaboration you expect.

Remember, the primary purpose of outsourcing in any area is to reduce costs and boost efficiency, and only with clear and concise communication is that possible. The media service provider must actually provide, and if multiple parties are having difficulty understanding one another, then multiple roadblocks will start getting in the way. Know where you stand, and then you’ll know who you need.

Expert Service

If you know exactly what you want, then it becomes much easier to identify who can give you the service you crave.

Employing the services of the best in the business is a sure-fire way to make some quick progress. For example, it’s well worth considering the OTT services of Red Bee Media. On their secure white label OTT platform, they enable you to monetize your content to the fullest, all while providing you access to in-depth customer data so that you can more sensitively tailor your service. It’s an intricate outsourcing service that explores every avenue possible, omitting no details. The more thorough the service, the better.

Running a business can be incredibly stressful, but with expert help comes peace of mind. Recognising your limitations is not admitting defeat, but instead a critical management strategy that will impact everything else positively. It’s best that everything runs at maximum efficiency with specialist help than at half capacity without, so seize the opportunity!

Recommendations, Awards, Reviews

Researching the reputation of an outsourced business isn’t a genius idea, but you need to know what to look for to do it properly.

For media service providers, look to see if they’re accredited with awards from prestigious tech bodies, or if they have a prolific portfolio of other clients. If in doubt, check their social media pages, and see what waves they’re making there. A positive work history is required for those you’re outsourcing to, so make sure you authenticate their services any way you can.

Referrals and recommendations will undoubtedly help you choose the perfect outsourced media service provider for your business. Confide in your network of contacts, and ask for a referral or opinion on the provider you’re considering. In the end, those who amass negative reputations don’t stick around for long in any industry, so you should devote a considerable amount to ensure you’re working with those of repute. That way, there’s no nasty surprises, and a trusting working relationship can be created straight away.

How To Save Money In Your Business

StrategyDriven Managing Your Finances Article |Save Money In Business|How To Save Money In Your BusinessIt’s crucial to save as much money in your business as you can when you’re a startup. However, it’s just as important to continue to save money even when you are more established. By cutting costs where you can – without cutting corners, of course – you can have a more streamlined business that can cope with anything the world throws at it. Any sudden downturn won’t impact a business that spends as little as possible half as much as it would impact a business that has many different expenses.

It’s easy to over-spend in business, especially when things are going well. However, it’s not a good idea; it’s far better to save and have money put aside for emergencies. Here are some ways to save money in business that will help you greatly.

Buy The Best You Can Afford

Surely saving money isn’t about buying expensive items? Isn’t that the opposite of what we’re meant to be telling you? Well, partly. Of course, we’re not advocating you go and buy many luxury items, spending all the money you have in your business, and then having financial issues later on. However, we are suggesting that, when it comes to elements that are needed for your business, such as tools, machinery, and other equipment, you don’t buy cheap. Always stick to your budget but buy the best you can with the money you have.

This is, strange as it might seem, is a money-saving tip.

Imagine if you bought a lot of cheap equipment, even if you could buy better. The likelihood is that this equipment would start to break down and need to be replaced, or it would have to be serviced more often than something newer that was in better repair. In the end, if you buy cheap at the start, you will probably spend more on that item through repairs and eventually replacement than you would have if you’d pushed your budget a little higher to begin with.

Outsource What You Can

Again, it might seem as though we are telling you to spend money, and again we are, but – again – there is a reason behind this.

Many people think outsourcing is expensive, especially if they could do the work themselves. Yet you must take into account what doing the work yourself would entail. By working on something that someone else could do, you are using up your precious time, time that should be being used to run the business. When you outsource, you can pick the things you’re good at and leave the rest to someone else, ensuring the high quality of the business you’re running.

You can outsource your accounts, your IT management, your marketing, and any other things that don’t appeal or that you don’t have the skills for.

Work From Home

One of the easiest and most popular ways to save money in business is to have everyone work from home rather than have a central office. If you and anyone else who works for you can work from home, you won’t have business premises to maintain. You won’t have to pay rent, nor will you need to spend money on energy bills.

On top of this, studies have shown that people are more productive when they work from home. If you are more productive, more work will get done, and not only will you save money, you’ll make money too.

Six Ways A Small Business Can Use Outsourcing

StrategyDriven Managing Your Business Article | <img class=As your business grows, you will find yourself tackling problems that are possibly further away from your core skillset, this is completely normal, and often when the business starts to utilize outsourcing more.

These tasks are the tasks that take you away from your core skills and require you to spend more time than you need on learning new skills that are only linked to a limited amount of functions. For example bookkeeping or payroll. These are functions that are a necessity, however, unless you have experience in these areas you may spend valuable time away from aiding your business to grow.

It’s essential for you to outsource tasks such as these to people such as Digital Goliath Marketing who are able to manage your work efficiently, leaving you with less stress and hassle to have to do it yourself. There are many occasions where it is more sensible and worthwhile to outsource. In fact, it’s not realistic to handle everything in-house for a modern business.

Bear in mind that whilst outsourcing is efficient and necessary, you should always keep your core business functions in-house. That means that you don’t need to outsource anything that your skillset covers already/

Let’s have a look below at some of the areas you may want to think about outsourcing:

Legal Requirements

Every business will have legal requirements, and this is usually the first area that gets outsourced. Hiring an in-house lawyer can be extremely expensive, and there is often no need to have one employed all the time. Most businesses can’t afford to have their own legal department, so you need to outsource. There are many ways you can source legal services such as:

  • Find one lawyer to deal with all your legal requirements.
  • Use a freelance lawyer or solicitor.
  • Use different lawyers or solicitors for each aspect of your legal needs.

Administrative Duties

Did you know that your employees could be spending around 40% of their working ay just on administrative tasks? This means that a huge portion of their day is spent completing repetitive and time-consuming tasks that are easy to outsource and train people on. It is a sensible choice to outsource these tasks to someone who would possibly charge less for their time than yours or your employee’s costs. Especially if they are highly-skilled staff members.

Remember you shouldn’t be outsourcing your core business functions, however, you can outsource parts of your core functions like the admin. Build processes and systems to ensure that the outsourcer can support you well.

  • Some of the outsource administration you could consider are:
  • Surveying, polling, and focus group tests.
  • Data collection and research
  • Travel arrangements
  • Compiling reports
  • Virtual assistant
  • Document management and organization
  • Calendar management and organization
  • Customer service emails
  • Social media posting/management
  • Preparing and taking notes
  • Transcribing audio or video
  • Personal errands (so you can spend more time working)
  • Editing/proofreading

Financial Management and Bookkeeping

It’s far wiser to keep your account organized as you go rather than leaving them until the end of the year. If you don’t keep an eye on your finances, then you could be making an expensive mistake. You could use cloud-based accounting software to track it yourself, however, working with a bookkeeper is probably easier. All you need to do is send your bookkeeper all your data and they will organize it for you. They also send you back whatever types of reports you like.

It can also be handy to have a contact for any questions you may have about the business finances, based on your circumstances. It certainly never hurts to have a financial expert that you can contact and work with. When it comes to completing your taxes at the end of the year, a bookkeeper will eliminate that stress. All you need to do is give your account access to your accounting firm and they will deal with the rest. If they require any information from you they will just ask for it.

Lead Generation and Marketing

Marketing can be challenging for small businesses. It can be easy to market yourself when you are slow, however, if your business picks up, marketing can get left behind. This can’t happen, your business will only slow down again if you neglect the marketing of your business and brand. Marketing is how you are going to grow your business, therefore, you need to ensure you have the time to make a commitment to it. Even if you outsource your marketing, though, you still need to ensure you have heavy involvement in it. You could choose to use a complete marketing service that deals with the management and social media or you could choose to outsource to several different freelancers, it’s really down to what works best for your business.

For example, you may prefer to have someone in-house dealing with the articles and information that is allowed on your website, but you are happy to outsource content creation to a content marketing agency. If you would prefer to manage your own marketing strategy you could choose to use consultants or freelancers to complete bulk work but oversee it yourself.

IT Services and Technology

Regardless of whether you are tech-savvy or not, it is usually simpler to let someone else deal with your technology needs.

Many technology duties come tagged with a steep learning curve. Therefore it may not be worth your time to learn how to web develop, code an app, migrate your information to the cloud, optimize your website, or implement two-factor authorization for your data. The cost it would take with regards to your time to handle your own IT needs is probably more expensive than if you hired an outsourcer to do this for you.

For example, you could choose to manage your own website, but do you know how to safely move your files around your host? Backup your site? No jow to migrate to a new host? Or, Set up cybersecurity? They are most certainly all doable, however, they could cost you a huge amount of time. If your skill doesn’t lye in this area, then you may be better off outsourcing your IT needs. Yes, you will pay more than just hosting space, but your time is valuable and it could save you money in the long run.

Before you opt to outsource certain IT tasks though, you should also have a look to see if there are any tools that could do it for you rather than paying an outsourcer or in0house team.

Human Resources

Human Resources suits can definitely take up a lot of time, especially as your business and team grow. Each time you recruit a new person, the obligations in the human resources department only grow. On top of this, if you mishandle any human resources such as payroll, firing, ot hiring a poor employee, it can cost you money, create an array of issues, and even see you facing a lawsuit.

Depending on your businesses needed, you may choose to outsource your human resources to one provider or several smaller ones. For example, you may use recruitment agencies for any talent searching, a payroll company to ensure your staff is paid correctly and on time, and a PEO to manage any benefits. As well as this you may also want to make sure you have access to legal advice relating to anything involved with human resources.

These are six areas that you may want to consider outsourcing as a small business. Is there anything that you already outsource? Please share some of them in the comments section.

When Is The Right Time To Hire Your First Employee?

StrategyDriven Managing Your People Article |Hiring Employees|When Is The Right Time To Hire Your First Employee?Although it’s entirely possible to run your business by yourself for as long as you want to – maybe even forever – that’s not what every business and every business owner needs. In fact, for some businesses, not taking on staff can be detrimental and reduce growth, or even cause the business to stagnate.

Knowing when it’s the right time to hire your first employee, however, can be difficult to determine, especially if you are nervous about doing so. Move too soon, and you won’t be able to afford it, wait too long, and you’ll have missed too many opportunities. Read on to get a better idea of when to start the hiring process.

You’ll Make More Money

It is an expensive time when you hire someone. Not only will you be taking time away from the business to read through resumes and interview candidates, but you’ll suddenly need to be paying someone a regular amount of money each week or month. If you are unable to do that, your employees won’t stay around, and they might even take the matter further and sue you for their money. Plus you’ll need to pay taxes, insurance, and maybe contribute to pensions schemes.

You will need to add this all up and determine whether or not you can afford to take someone on. You will also need to work out how much additional revenue you can bring in by hiring someone. It might be that they can pay for themselves and then some. You should wait until you are financially stable, however, as it is a gamble that might not pay off.

You Can Do It Right

When we say do it right, we don’t mean all the admin and other exercises that need to be done when you hire someone. You can outsource much of this and TriNet’s payroll services can take on what you cannot such as managing your payroll for you or simplifying your taxes.

What we mean is that you need to be able to find the right person for your business, and, when they are hired, you need to be able to ensure that they are looked after. Getting these aspects right will help you immensely. You’ll have someone you can trust who, because they feel happy and satisfied in their work, will be loyal. Loyal employees are wonderful as they will mean you don’t have to start all over again and spend more money looking for other workers.

You Need Something Specific

As noted above, outsourcing can be a wonderful way to ensure that work is done accurately and professionally. You can do this with many aspects of your business, and it will mean that anything specific that needs to be done and requires a certain skill set can be completed.

In time, however, you may find that it would be easier to hire someone to do the work in-house. Some business owners prefer to have someone working just for them, and if this is the case and you no longer want to outsource yet can’t do the work yourself, it could be time to hire your first employee.

The Best Ways to Modernize Your Business

StrategyDriven Managing Your Business Article |Modernize your Business|The Best Ways to Modernize Your BusinessStaying modern is something that every business needs to do, but many struggle with. Those that are able to stay current will be able to satisfy the fast-changing needs and expectations of today’s consumer, streamline their business and stay ahead of the curve. Meanwhile, those that struggle to keep up will get left behind and could find it hard to compete. It is clear that staying modern is im-portant, but how can you go about doing this? It is hard to know in today’s day and age as there are so many different ways to do this – read on to find out a few of the most effective areas that are worth focusing on.

Remote Working

Remote working has been on the rise years, but in 2020 it has become widespread due to the pan-demic. In most cases, this has shown to be a success for companies with many reporting an increase in productivity as well as a boost in morale. Having the right tools and learning how to manage re-mote teams is important if you want to find success and you may want to have some flexibility as some people will prefer working in the office at least part time.

Outsourcing

Outsourcing is becoming increasingly more common in today’s day and age and made much easier through the rise of remote working. It makes sense from a business perspective because outsourc-ing allows you to use experts to handle certain aspects of the business operation without the need to pay a full salary and other employee costs. This makes it a cost-effective option and could allow you to scale up with ease, and there are many areas that you can outsource, such as:

  • Digital marketing
  • IT
  • HR
  • Accounting
  • Social media management

Use Video Marketing

Video marketing is a highly popular and effective ways to promote your business and can be much more engaging than other formats. Video marketing will capture the attention of your target cus-tomer; it allows you to use both audio and video as it can make it easier to communicate your mes-sage and it is a chance to impress and show your expertise. The key is to have any videos made by an experienced professional as amateurish videos can have the reverse effect in a time where peo-ple are used to seeing so many videos every day.

Influencer Marketing

Another popular form of digital marketing to use right now which could have a huge impact on the success of your business is influencer marketing. This involves getting someone with credibility in your field to promote your products/services on social media which will help to boost your reputa-tion, advertise your company and allowing you to reach a much larger audience.

Automation

Automation is a word that can create some strong reactions in the business world, as some argue that it leads to job losses. While this is the case in some circumstances, you can actually use automa-tion alongside employees which can be a great way to boost efficacy, reduce workload for staff and speed processes up. Using automation to handle simple, repetitive tasks will allow your team to fo-cus on other areas. They could help you to work at a much higher capacity than before so it should certainly be looked into.

Artificial Intelligence

Another type of technology that was once seen as futuristic but is now becoming common in a range of industries is artificial intelligence. AI can be used in all kinds of creative and innovative ways, such as:

  • Process automation
  • Collecting data
  • Chatbots
  • Optimizing logistics
  • Predicting performance

Update The Company Website

If you have not updated the company website for a few years, then this is a smart way to modern-ize. It is amazing just how quickly web design trends can change, and a dated website will quickly deter any visitor. Therefore, it is a great idea to use an experiment web design agency that will know the latest trends to deliver a modern, attractive and easy-to-use website which will impress any visitor.

Cloud-Based Training

Cloud computing can bring many benefits to a business and is a great way to modernize. Despite this, many people are struggling to get to grips with cloud computing which is understandable as a relatively new type of technology. This is why you should look into cloud-based training for enter-prise teams which will help get your team up to speed about using the cloud. This will help you to get the most out of cloud computing and modernize your workforce so that everyone can excel in their role and work with confidence each day.

Upgrade Cybersecurity

Understandably, business owners are focused on the threat of the pandemic in 2020, but one area which you must not overlook is cybercrime. Cybercrime is a massive problem that affects business-es of all sizes and in all industries, and there are constantly new threats being developed. This means that this needs to be a priority, and you need to invest in high-quality cybersecurity products in addition to learning about the latest threats and how you can stay safe.

Be Environmentally Friendly

Every business should be looking at how they operate and find ways to be more environmentally friendly. This is important in terms of doing your part to reduce impact, but also because consumers are becoming increasingly eco-aware and selective of the brands that they use, so it is important for your reputation. Not only this but often you will find that being more environmentally friendly can help to lower your operating costs too.

If you are wanting to modernize your business, then these are a few of the best ways that you can do this. Businesses need to stay current and ahead of the curve so that they can find success, appeal to their target customer and stay ahead of the competition but it is also an area that many struggle with so hopefully this post will help.