It’s not unusual for businesses to enter into partnerships nowadays, as business partnerships provide additional support may be it be in terms of resources, goods, or services. More than that, it can open the business to a wider market reach– possibly a market which was not originally in the company’s target.
Successful business partnerships not only open more doors for a company to expand, but also enable them to uphold their core values and principles. Being able to identify what the customers or clients may need while being able to address the needs of its own workforce.
Business and advertising are two constants that require a dynamic and an always-changing approach. Recent events such as the World Cup is a testament to this. It proved how businesses should continually adapt its approach to the ever-changing digital consumer behavior.
The World Cup showed how much digital consumer behavior has impacted the way businesses set goals. The month-long event also revealed major ways on elevating your brands. This includes being able to capture the spirit of the sporting event or any other event for that matter.
The Business Process Outsourcing (BPO) industry in the Philippines employed 1.3 million professionals and generated $25 billion in revenues last year. It is expected that by 2022, the Philippines’ BPO sector will generate revenues of $40 billion and account for 15 percent of the outsourcing market in the world.
However, the past few years have seen robotic process automation (RPA) and other automation technologies emerge—putting 89 percent of the BPO sector at risk, according to the International Labor Organization. As RPA technologies become increasingly advanced and widely used, processes that were once outsourced now require less human intervention.
A scalable business is something that all entrepreneurs aspire to achieve—but what does this exactly mean?
Simply put, scalability means the ability of a business to respond to increasing demand or workload, and its potential to multiply revenue with just a minimal incremental increase in its costs. One of the most effective tools to scale your business is outsourcing, wherein a company hires a third party to accomplish a specific function or activity.
Are you ready to scale your business?
Many entrepreneurs struggle to grow their business because they focus on the wrong things. Instead of working ON their business, they work IN it.
Sure, there are tasks that need to get done inside your business, and you want to ensure that everything’s done right down to the tiniest detail. But here’s the rub, if you tend to focus your energy on these non-core time-consuming tasks rather than performing the crucial activities which can propel your business to the next level, your business is doomed to stagnate. FOREVER.
Grasp the importance of this idea, and determine the key areas where you need to maintain your laser focus. Once you’ve done this, the next logical move is to get someone who can accomplish the other tasks that you’ve decided to remove from your plate.
However, if you are not yet ready to hire a full-time employee or are simply uninterested in doing so because of the “headaches” that come with it (e.g., recruitment process, payroll, providing benefits, training, workplace and equipment, and supervision/ quality control), there is another way to scale your business—it’s through outsourcing.