Looking for the best outsourcing business ideas to implement for making money, online and offline?
Then you are reading the right article for sure. It provides a lot of helpful insights into the best ways and tips to help you.
Table of Contents
Importance
Employee wages, benefits, training, and payroll taxes all combine to make labor or the use of employees the biggest expense for a company.
To mitigate this expense many companies have instigated several strategies to reduce the employee expense line item.
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Some companies have moved their operations to different countries to take advantage of a cheaper workforce, while some companies have downsized their staffing by laying people off or offering early retirement.
Another strategy that some companies have chosen to utilize is the concept of outsourcing.
This concept of outsourcing moves the jobs that were once done by employees within the operation and reduces the workforce and outsources those jobs to individuals who are not employed by the company.
The work still needs to be accomplished not by employees but by freelancers.
The benefit to the business is a reduction in significant employee expenses, the job still being accomplished and yet performed by freelancers who are responsible for their retirement, medical benefits, paying payroll taxes, etc.
The reality is that for businesses, there still needs to be a profit, keeping the customers satisfied as well as other stakeholders.
Right or wrong, freelancing is the wave of the future, and therefore best outsourcing business idea to make money would be the opportunity to take advantage of this freelance/outsourcing business model.
25 Best Money Making Outsourcing Business Ideas
1. Marketing
One of the key components, regardless of the size of the business, is marketing your product or service so that the potential customers know what you offer and that the customer needs that service.
A great outsourcing business to help make money would be providing a marketing strategy for a company, especially a small to midsize company, and helping them to implement that plan of action.
A marketing strategy could include the use of media, social platforms, blogging, a quality website, etc.
2. Bookkeeping
Bookkeeping is a great outsourcing business idea because it doesn’t require many employees or personal interaction with others.
Through your business, as a bookkeeping and accounting outsourcing company, you can enter the data accurately into the software, and then the company leadership can utilize the various reports that can be generated from the input of the financial data.
Also, the other aspects of the bookkeeping service that you would provide would include generating invoices, receipting, working with vendors and customers, payment of payroll taxes, etc.
3. Legal
Another business outsourcing opportunity would be various aspects of the need for legal oversight.
The service provided by the legal outsourcing business could include any litigation support, review of contracts, protecting the company from liability issues, helping to facilitate payment from delinquent customers, risk management, etc.
4. Tech Consulting
Rather than having an IT specialist on-site at a company, there is software that can be downloaded so that an IT specialist can have access to employees’ computers and resolve software or tech issues remotely.
5. Business Consulting
Sometimes, as it is in business, there is difficulty in seeing the forest for the trees.
In other words, sometimes business leadership is too close to the daily processes to see where things can be improved, modified, and made more productive.
The freelance business opportunity of a consultant would be a great opportunity for an individual who has education and experience as it relates to business operations.
A consultant would be invited to come into the business, observe processes, evaluate leadership, interview employees to determine their proficiency and any morale issues, etc.
Once accomplished, the business consultant will report their findings, offer solutions as well as help practically through leadership training or other means of improving the business operations.
6. Data Storage
As our dependency on computers increases so does our search to protect and increase a business’ capability of data storage
A possibility of an outsourcing business would be a data storage company.
This company will provide the needed storage to their business customers along with providing assurances of achieving backup, appropriate archiving, access to the storage by the authorized company personnel, etc.
7. Repair
At one time, companies were pretty well self-sufficient and often had their repair employee team that took care of the day-to-day maintenance and preventative measures.
This process is now sometimes outsourced to professionals and businesses outside of the company.
This outsourcing action would provide your business outsourcing company with repairing and providing preventative maintenance and would be a great opportunity to be a successful business and earn revenue dollars.
8. Manage Social Media
Social media is a significant influence on individuals and businesses today.
The reality is that it can be very time-consuming in providing fresh content, answering questions, interacting with customers and potential customers, and manage all of the available platforms.
Therefore, a great business outsourcing opportunity is the management of social media platforms for a business.
9. Development and Research
Development and research are very intensive and time-consuming.
An opportunity to help a company save money and limit their staff’s involvement is by outsourcing this aspect of their business.
Some of the development and research actions could include the area of pharmaceutical, financial, customer demographics, and market research as it relates to expanding the company.
All of these research and development needs can be outsourced to your business.
10. E-commerce
E-commerce is defined as conducting business through retail online websites,
Just as it is important in the investment world and having a diverse portfolio, the same is true for a business to have a diverse presence in the world of commerce to maximize the potential of customers purchasing their product.
As a company chooses your outsourcing business of e-commerce you can manage this aspect of a business’s commitment to diversify the sale opportunities for their customers and potential customers and market to an even greater audience.
11. Web Development
When a customer is searching for a service or a product, often they will take to the Internet open up a search engine site and look for that particular service or product.
As a web development outsourcing business, you will provide the exceptional service of providing a quality webpage that is not only attractive but informational as well as highlighting the service or product so that the potential customer is engaged.
With a search engine and through SEO the customer will land on the business’s webpage and if not developed correctly, a missed opportunity will be experienced.
12. Eco Consulting
Fortunately, many companies are or wish to be more eco-friendly to the environment as well as on the commitment of their customers to cognitive of the environment.
Your outsourcing business of eco-consulting will be an opportunity to be invited into a business and do an eco-audit of the company’s processes.
The processes could include evaluating the use of major appliances and determining whether they are energy-efficient, determining whether there is a recycling program that can be implemented, and evaluating the use of bands, window shades, thermostats, lighting, etc.
The value to the company will be cost savings and the opportunity to share with their customers that they are doing their part and your company will be part of that process and earn business revenue in the process.
13. Business Plan
A critical document that needs to be devised for a business that is just starting or a business that is adjusting its vision and mission is the need for a business plan.
Your outsourcing business can help individuals by helping to evaluate existing business plans and provide advice on how the plan can be modified or reworked.
Your business can also help out with a startup business to help provide clarity and direction and a plan of action on how their startup business will proceed.
14. Public Relations
With the copious amount of news that is generated every day and broadly disseminated to the Internet community, sometimes the news can be perceived as negative or paint a company in a bad light.
Your outsourcing business of providing public relations can help the customer company to navigate these waters and build on successes and mitigate news that may not be perceived as favorable.
Public relations is critical as it relates to the perception by customers and potential customers of companies in their community.
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Consequently, public relations is critical to the continued success of the business moving forward in the community.
15. Event Planning
Event planning can be a critical function and component of both for-profit and not-for-profit businesses.
An event could be a special celebration such as a company’s anniversary, the opening of a new annex, or other hallmark events.
For a not-for-profit, an event could include a golf tournament to raise money for services, a special dinner for high-end donors, etc.
An outsourcing business that specializes in event planning can meet with the appropriate staff members and plan out the event and make sure that the event proceeds and realizes the goals and objectives of the event being held.
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16. Private Security
Protecting a company’s assets and the customers that they serve is of extreme importance.
Outsourcing to a company that provides the needed security would be a tremendous burden off the shoulders of existing companies and their limited employee complement.
An outsourcing business that provides security could contract with a company to provide uniformed personnel to monitor any activity or utilize a company vehicle to periodically drive during hours to provide a security presence may be indicated.
17. Development of Apps
One would be hard-pressed today to not be able to find an app that helps facilitate a company’s service to their customer.
In addition, these apps are always being updated and new rollouts are part of the strategy to stay connected and provide convenience to a company’s customer base.
In the development of apps, an outsourcing business could not only provide this service to customers but develop your app for your company to better engage your database of customers.
18. Safety Consulting
For most companies, safety is job number one.
Many companies engage private companies to develop safety programs for their employees.
Some of these safety programs can teach the employees about proper lifting techniques, enhancing their driving skills, safety around the workplace, etc.
As a safety consulting outsourcing business, you can provide not only these educational and safety insights for the employees but also do a safety inspection of the company’s workplace to mitigate or prevent any potential hazards from occurring.
The value to the company would be the possibility of decreased insurance premiums and for you as a company, maximizing your revenue base.
19. Call Centers
Interacting with customers is still a critical component of good customer service within a company.
There may be issues surrounding billing, dissatisfaction with a product, troubleshooting, etc.
Often, for a company, this can be extremely time-consuming and if coupled with limited staff, may create even more issues in that the customer may feel neglected.
Therefore, a good outsourcing business opportunity to earn revenue would be to provide a bank of customer service representatives to handle the needs of their customers when the customer reaches out to the business.
20. Graphic Design
Graphic design goes hand in glove with the marketing component of a company.
By providing graphic design service as a viable option for a company to utilize, the expertise and creativeness of your company can bring an added dimension and creativity to the marketing campaigns of the company.
The service offered by a business that is utilized to handle outsourced graphic actions includes public relations materials, billboards, promotional boards, advertisements, etc.
21. Virtual Assistants
Many companies are moving away from the traditional role fulfilled in a company by a receptionist, secretary, or admin assistant,
The move is towards the use of virtual assistants and sometimes broadening their job description to include the keeping of calendars, managing social media content, light bookkeeping, etc.
B by providing a virtual assistant outsourcing business, you will find a potential great need for this service as there is still a need for an assistant but outsourcing this need to an outside company.
22. Residential Management
There are many individuals in as many communities in which individuals own investment properties.
This is a great way for an individual to earn passive income and add to their assets as it relates to their net worth.
The potential time-consuming aspect of managing a rental is the landlord or property owners involved with the business or the resident who is renting the property.
A variety of issues may need to be addressed including repair and maintenance, collecting rents, working with tenants that are in arrears, etc.
Therefore, a great opportunity for an outsourcing business is to manage the residential property and take the burden of all of these associated activities of your customers.
23. Writing
Writing is still one of the primary means of communication.
This is especially true in the business world.
There are memos to be written, letters to be composed, grants to be written, written communication to shareholders, newsletters to be compiled, etc.
In the current environment in businesses, often this activity can be time-consuming and therefore is a prime example of something that can be outsourced to a business.
24. Data Entry
Another time-consuming and pretty routine activity within a company is the inputting of data.
The data could include customers information, inputting numbers, inventory, etc.
Sometimes mundane but important because companies rely heavily upon analyzing the data.
Therefore, a great business outsourcing opportunity would be a data collection and inputting business that you would provide to customer businesses.
25. Transcription
Many businesses rely heavily upon the talent, skill, and professionalism of a transcriptionist.
The sampling of those businesses could include being a transcriptionist for a medical facility, doctor’s office, court systems, attorneys at law, etc.
Your transcription outsourcing business could have access to a number of these transcriptionist professionals that you could manage and provide their service through your company to provide the needed service of properly capturing what is needed to be transcribed.
Personal Story
When I was working for a not-for-profit in the late 1990s, the ongoing struggle for financial support was a constant.
There were many local chapters in the area where I worked with a number of them being close to each other ranging anywhere from a 20-minute drive to a 40-minute drive.
Through several communiqués and strategies that were made known to leadership, the handwriting on the wall was obvious,
The strategy to continue to provide services based on the limited resources was to start closing various chapters and combining their operations into more of a regional focus and yet still be able to provide the services that the community expected.
As with all businesses, the driving factor was to survive and the strategy was to downsize, lay off employees, and regionalize the services provided by the organization.
The whole process was pretty nerve-racking and the unknown for most people can always be an issue.
And of course, the employees and their families being affected was probably the most difficult aspect to reconcile.
Money Earning Outsourcing Business Ideas FAQs
What Would Be Some of the Challenges That an Outsourcing Business Would Face?
Some of the challenges would include:
- Slower turnaround time
- Lack of business
- Language and cultural barriers
- Lack of control
- Time zone differences
Are There Any Other Benefits to a Company in Outsourcing Their Business Needs?
In addition to significant employee cost savings there are:
- Job loss affects the entire U.S. economy
- Customer concerns about utilizing cheaper labor in foreign countries
- Lack of transparency
- Environmental standards may be diminished
You Can Do It
Outsourcing has proven to be an ineffective strategy in reducing the employment line item on the expense side of the ledger for many businesses.
Consequently, outsourcing is likely here to stay and the era of significant numbers of staff and 50 years working for a company are few and far in between.
Therefore, rather than bristle against the cost savings measure of outsourcing a good plan of action would be to become a freelancer and better yet look at the possibilities of being an outsourcing business.
Conclusion
For many businesses today, outsourcing is a viable solution to remain competitive and ensure that the budget is trim and lean so that services can continue to be provided.
As it relates to outsourcing and the impact that it can have on the lives and employment positions of people can be challenging.
However, rather than allow the “current” of outsourcing to take us out to sea, perhaps, it would be more beneficial to ride the current to new opportunities and perhaps be part of the outsourcing trend or current.
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