How to Accelerate Business Growth

Running a property business involves a lot of moving parts, many of which can be reactive, and every business owner and manager wants to make sure that they are working as best and as efficiently as possible. There’s also a lot of administrative and legislative requirements involved in managing and selling property.

These days outsourcing has become an integral strategy for any property company that really wants to grow; to streamline their operations, reduce costs, and have each team member focus their strengths on your core business.

Increase your capacity and expertise

One of the biggest reasons to consider outsourcing is if your business lacks the capacity or expertise to handle certain tasks internally. Outsourcing allows you to tap into specialised skills and resources that may not be available in-house, enabling you to deliver high-quality results more efficiently. Whether it’s IT support, accounting services, or marketing, outsourcing can provide access to the professionals you need to get the job done.

Create cost efficiency

At the end of the day, people cost money. Outsourcing can often be more cost-effective than hiring full-time employees to perform certain tasks and roles. By outsourcing, you can avoid the overhead costs associated with recruiting, training, and maintaining staff, as well as the expenses of providing benefits and office space. It also allows you to pay for services on an as-needed basis, which provides greater flexibility.

Access innovation and technology

You’re an expert at what you do but you’re not necessarily an expert in every area that will benefit your business. Outsourcing can provide access to cutting-edge technologies, tools, and processes that may not be feasible for you to develop or implement in-house. By partnering with specialised service providers, you can access the latest advancements, and drive innovation and efficiency in your company.

Focus on your core activities

Outsourcing non-core functions of your business allows you to focus your time, energy, and resources on activities that are most important to your business. By delegating specialised or even routine tasks to external providers, you can free up internal resources to concentrate on innovation and growth.

Focusing your efforts on securing that one additional sale and getting more business as a result can be a lot more valuable than spending your time doing client accounting. Spending more time looking after existing customers to increase word of mouth recommendations is time better spent than handling all of the accounts yourself.

Mitigate your risk

Outsourcing certain functions of your business can help mitigate risks associated with compliance, legal liability, and operational challenges. Not everyone can be an expert in all things. Outsourcing to providers who know in detail about industry regulations and best practices reduces your risk of non-compliance and costly errors. Outsourcing can also help diversify your risk by spreading responsibilities across multiple vendors, rather than relying solely on your own internal resources.

You may have a single person managing your accounts which leaves you vulnerable when they are off ill or on holiday. Outsourcing your accounts gives you a depth of staff that removes the risk of you being taken away from clinching that crucial sale.

Improve your flexibility and scalability

Business needs are dynamic and can fluctuate over time due to factors including seasonality, market demand, or growth opportunities. Outsourcing helps provide your business with the flexibility to scale up or down quickly in response to changing market conditions. This means not having to worry about the long-term commitment and cost of hiring extra employees who may not be needed.

Whether it’s customer support, payroll or accounting, outsourcing allows you to tap into the skills and capabilities of professionals who specialise in their respective fields and frees you to do what you do best – your core business.

SME Professional is pleased to work with The Letting Partnership in offering outsourced client accounting for our customers.

About the Author

Fraser Sutherland established a successful property letting agency in Scotland in 2006. Dissatisfied with the available solutions, and with a background in engineering and advanced technologies, he developed SME Professional software to meet his agency’s needs. Today, this innovative software is widely used by agencies across the UK.

SME Professional has emerged as a leading cloud-based property management software solution servicing clients throughout the United Kingdom, including several of the nation’s largest sales and lettings franchises. They are the largest supplier to the Scottish lettings market and employ more than 50 staff based in Edinburgh.