What is the lifeline of your business?
Think about this for a moment and we think you’ll arrive at one conclusion. It’s the people. The people behind your company who you employ or partner with will determine whether your business succeeds or fails.
Part of this is down to ensuring that you hire the right team members for the job. But there is a problem here and that’s the cost. The more people you hire for your business, the more expensive your business model becomes. This is particularly true if you need experts in certain fields. So, let’s explore the different options, what they bring to your business and how much they will cost you.
On average, the typical cost of an accountant for a small business is between $1000 and $5000. However, an accounting career salary can be significantly more than this. So, you will need to consider whether you are taking them on board as a full-time member of your payroll. In most cases, this is not recommended as it will cause your costs to balloon.
An alternative you might consider would be an online cloud-based accounting solution. The benefit of this is that you will be able to manage your own accounts in real-time. However, you do need to be confident about managing numbers. Any issues here and you could run into problems with everything from tax to paying invoices.
IT professionals will ensure that your computer systems continue to run effectively and are set up the right way. This can be quite challenging because a lot can go wrong with tech. Even five minutes of downtime will cost your business thousands. As well as this, there are more hacks than ever on businesses and smaller companies are certainly not immune. Instead, it’s quite common for these businesses to be hit hard by hacks because criminals rightly assume, they won’t have the full security systems in place.
It support experts can help you avoid the issues here for the most part. But how much will they cost? On average, you will need to pay roughly between $200 and $2000 per month for this service. That is significantly cheaper than the typical $100,000 plus the salary of the IT manager. As such, your best option here is definitely to outsource. You’ll save a fortune and still be able to protect your company in the right areas.
Finally do make sure that that you consider hiring a marketing agent for your business. Again, it’s best to outsource with the average salary exceeding $80,000 per year. One thing you must avoid is managing the marketing of your company completely by yourself. A lot of businesses attempt this as a way to save and it always leads to disaster.
The issue here is that marketing is never going to be a one and done solution. It requires consistent efforts to ensure that a promotional campaign continues to run effectively without any problems.