An Entrepreneur's Guide
MindPillar supports this blog as a means to help its entrepreneurial clients. We try to provide the best advice and experiences to people who are going to or have started their own companies. We know how tough yet exhilirating the experience can be. This blog aims to support and encourage entrepreneurs
Friday, February 11, 2005
Inhouse or outsource?
Even though outsource has a new connotation to it now, small companies have been faced with the decision of keeping work inhouse vs. outsourcing for a while.
This question can come up at any time, for example should you design your brochures or should you 'outsource' them? Or, should you manage my own payroll or 'outsource' it.
Of course, the general belief is that the you should focus on your core business and outsource everything else. However, this belief quickly comes to a halt as soon as you realise that you are spending $5000 designing a brochure and then some more fixing it up. opportunity cost however, is something which is tough to measure.
The solution ends up being different for every company. If you think you have the time [and the brains] to do your own payroll, then go ahead, save those dollars.
This question can come up at any time, for example should you design your brochures or should you 'outsource' them? Or, should you manage my own payroll or 'outsource' it.
Of course, the general belief is that the you should focus on your core business and outsource everything else. However, this belief quickly comes to a halt as soon as you realise that you are spending $5000 designing a brochure and then some more fixing it up. opportunity cost however, is something which is tough to measure.
The solution ends up being different for every company. If you think you have the time [and the brains] to do your own payroll, then go ahead, save those dollars.
, 5:31 PM