For those of you who have heard of Warren Buffett he needs no introduction. For those of you who haven't, he has been in the top 10 of Forbes Rich list every year for the past 20 years, often at number one.
The 'Oracle of Omaha' as he is known on Wall Street, was taught by Benjamin Graham at Columbia Business School.
Graham is known as the father of value investing and published an acclaimed book, 'The Intelligent Investor', on the subject. His philosophy on investing was to find companies whose market price did not reflect their intrinsic value.
So, what's that got to do with you? And how does it apply to your business?
If you're a small business owner, you're wearing a lot of hats. You might be working on the tools, managing labour, attending meetings during the day. In the evening, you're dealing with all the admin, paying invoices, doing the payroll, pricing tenders and so on. The list seems endless at times and can be overwhelming.
You're probably very good at the daytime stuff, after all that's the service you're getting paid for. You may also be pretty good at the administration too. However, is that the most productive use your time?
Medium and Large Business'
If you're a larger organisation with an in-house commercial team you may be slightly under-resourced in that department. With the impact of COVID and the latest lockdown, you may have staff that are furloughed due to school closures or even off ill. Maybe you've just secured a large contract, or multiple contracts, that will stretch your team past their limits.
Your team might be coping with their main tasks but some things will inevitably suffer. You might not know it until it's too late. Maybe they just miss a valuation deadline resulting in a loss of revenue. Perhaps they overlook an inaccurate invoice and you've overpaid.
A common objection to outsourcing tasks is the cost of the service. This point of view focuses entirely on one side of the equation.
Now consider the value a freelance quantity surveyor brings to your organisation.
For any company, regardless of its size, a freelance quantity surveyor provides a number of commercial benefits.
- Minimising costs of subcontractors and suppliers.
- Maximising value recovery from interim and final accounts.
- Experience of a specialist advisor without the obligations, responsibilities and costs of a permanent employee.
- And much more besides...
For the small business owner, outsourcing commercial duties to a specialist has two major, additional benefits.
- Free up your valuable time to focus on the things you excel at.
- Achieve a better work/life balance.
Once you have considered both sides of the equation, the question, "Can I afford to outsource?" should be replaced by, "Can I afford not to outsource?"
Invest in Your Business Today
Regardless of the size of your company, or the specifics of your commercial requirements, qs4hire is well placed to provide your company with additional value. With over 20 years of industry experience, qs4hire will make a significant contribution to your bottom line.