Tim Witucki – Senior VP, Worldwide Sales & Business Development, Personiv, was invited to speak with Sean Heath as a guest on MarketScale’s Software & Technology podcast. With technology that propels at an ever-increasing speed toward the future, inventors, idealists, and visionaries have found fertile ground to build companies and products from little more than a unique idea. A lot of startups will hit a speed bump that can quickly become a wall if they aren’t prepared for it: scaling upward and managing rapid growth.
Needing to grow your talent base as quickly as, and in conjunction with, your business is usually a sign that you’re doing something very, very right! It can prove to be much more challenging than most startups anticipate however, which can end in disaster. Witucki is no stranger to startups and discussed how you can leverage outsourcing for your startup and stick the scalability dismount.
Your Startup Can Outsource – and Probably Already Does
In fact, most of us outsource some aspect of our daily lives without ever giving it a passing thought. Whether it’s the office space you rent for your crew, the freelance developer that programs your app’s UI, or the vendor that prints your sales collateral, if you have a startup you’ve already moved some aspect of your business out of house. That’s outsourcing! When people think of outsourcing, they often think of massive call centers for with a sea of cold-callers making sales calls for huge corporations and think “that wouldn’t work for me.” The truth is that you can outsource almost anything. By moving peripheral tasks like balancing the books offshore, you can laser-focus on your vision. By adding highly-skilled global talent to take on the more critical work, you can scale as quickly as you need to.
When Startups Outsource, Onboarding is Key
If you want to scale successfully, and have decided to leverage outsourcing as a tool to do just that, the work starts on day one. It’s critical to choose an outsourcing partner that prioritizes getting and staying in sync with your company’s goals from the very beginning. Staying in lock-step can mean the difference between being in the 58 percent of businesses that fail on their first attempt at outsourcing and being in the 70 percent of remaining startups that successfully outsource and enjoy a healthy ROI within 30 days, according to Witucki.
Think 'Partner' When You Think 'Provider'
One of the benefits of outsourcing is that it gives startups and incubators access to the same resources as established industry giants without eating up precious capital. But before you dive in, knowing who you’re partnering with is essential. There is more to consider than just cost.
A good BPO provider will give you access to their company’s decision makers and want to meet with yours. They’ll work to learn about your vision, process, and company and actively work to function as a part of the machinery that makes your startup work, not as a separate entity. If a provider can’t or won’t work to shape their offerings to your needs —not the other way around — that’s a pretty good sign that you need a better fit.
For more details on how humans and automation work together for top accounting efficiency, contact us to discuss our FAO program.