Balancing the Budget: Outsourcing Business ServicesBalancing the Budget: Outsourcing Business Services

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Balancing the Budget: Outsourcing Business Services

My company is now over a decade old and I still outsource several key functions. It isn't that I can't afford to keep them in house. It is just that outsourcing is the most financially responsible decision I can make. I outsource all sorts of support services. One company manages my IT needs. Another partner takes care of the payroll and remitting taxes. I even have a cleaning service that comes in at night, does the windows, and in general keeps everything spotless. If you think outsourcing might benefit your business, let's talk. I'll tell you what I outsource and why. From there, you can decide if my strategy would also work for you.

6 Reasons Why Small Businesses Should Use Virtual Office Space

If you are thinking about going into business for yourself, you may be trying to decide whether to lease conventional office space or to set up shop in a home office. Working out of a home office will save you significant sums of capital, and many small businesses really don't require full time office space. However home offices come with some disadvantages of their own, such as household distractions, limited meeting space, and difficulty in separating work from home. Many fledgling entrepreneurs find that a combination of a home office and virtual office space offers them the best of both worlds.

Following are six great advantages to supplementing your home office with virtual office space:

A Corporate Mailing Address

Having a corporate mailing address provides your business with the polished image that having a designated physical location provides. Some clients are hesitant to do business with companies that are run solely from home offices -- unfortunately, scammers have given home offices a bad name in many quarters. Many small businesses owners find it more convenient to receive business mailings at an address separate from their home because there is less chance of importance correspondence being misplaced by family members who happen to pick up the mail.

You don't even have to physically pick up your mail at virtual offices because they provide a service that digitally scans the contents of the envelopes that you receive and emails you copies of them.

Telephone Support and Reception

One of the options available from virtual office space providers is a dedicated business line complete with profession reception service. A live person will answer as well as direct calls and take messages. You can also choose to include a business fax number in the virtual office package that you select as well as services such as electronic voice mail.

A Physical Location for Business Meetings

No matter how professionally run your home office is, there is something amateurish about holding business meetings in a residence. Having a virtual office space will allow you to have access to meeting and conference rooms in a professional setting. This is generally on-demand use that you can pay for by the hour or by the day, and facilities are usually available on short notice. Most virtual office providers also have comfortable, professional waiting rooms.

You'll Be More Attractive to Potential Lenders and Investors

Commercial lenders often don't give lines of credit to home based businesses, and potential investors may be negatively swayed if a business is run from a home office. Although it's possible to obtain financing for home based businesses, you can expand your options significantly by using a virtual office service.

You'll Have Access to State-of-the-Art Technology

In order to retain customers, companies that offer virtual office rentals will continue to invest in the latest technologies, and this can save business owners a lot of money. Because business technology is still developing at a rapid pace, it generally isn't cost-effective for small businesses to purchase the latest devices.

You'll Save on Incidental Costs

By using a combination of a home office and a virtual office space service, you'll save substantially on incidental business costs such as commuting, lunches, and wardrobe basics. You'll access your virtual office space from home most of the time, eat lunch at your own kitchen table, and wear whatever clothing you find most suitable and comfortable.

Virtual office spaces are the wave of the future because they offer many different benefits to those who want to own and operate small businesses without incurring the traditional costs. They're also easily customized -- you can pick and choose from a variety of available services that suit the individual needs of your business.