siliconindia | | July 20179SALES & HR OUTSOURCING TRENDS IN INDIAin the field and therefore for a fraction of the cost of hiring someone dedicatedly, they could benefit from the same. Hiring is one thing, but retaining top talent remains an issue for most companies, even some of the larger ones, hav-ing clear processes from the onset with exter-nal outsourced help can ensure setting up pro-cesses which reward top performers and creates incentive for them to continue contributing to the company. 90 percent startups who are engaged with building products for enterprises, large and small fail in the first two years. While there are several reasons attributed to startups failing, over 75 percent fall into the category of Sales and Marketing. Most entrepreneurs, if they are smart would adopt a lean methodology to build their product based on what customers need. While that is a great start however it does not guarantee success. Infact most often on receiv-ing the initial funding, scaling the business becomes the achilles' heel. CAC/LTV ratio (Customer Acquisition cost to Lifetime value), Market segmentation, monetization models and replicating customer success are concepts that most entrepreneurs have not dealt with, since most of them come from being a product man-ager or a great coder/developer. This is where outsourcing the Sales & Marketing function can increase the miserable odds that already stacked against the startup.You might have the best product and there is great suitability that solves a compelling pain, however, B2B selling requires an understanding Outsourcing the HR function to an expert gives more time to the owner-manager to focus on the core business and other strategiesof not only the challenges faced by companies but also their buy-ing patterns, budget allocations, decision-making & hierarchy, right people to connect with in those companies and most importantly negotiating and ordering processes.Outsourcing allows the startup to control its burn while gaining vital access to the mar-ketplace and reducing the time to market. All of this without compromising on the focus to build the product and company. A question that entrepreneurs often struggle with is `what is the right time to outsource'. My view is that outsourcing needs to be a core part of your strat-egy. Therefore whether you are a startup looking to scale, or a successful company moving to another orbit, or looking to open a new market, its always a good idea to identify the core strengths of the founding team and outsource all the rest. Once you have identified outsourcing as a source of stra-tegic competitive advantage, its extremely important to then identify suitable partners in this journey. The outsourcing com-panies one should be partner-ing with should be companies who are going to truly be your partners. The questions to be asked during the identification stage are:· Has the outsourcer demonstra-ble expertise in the areas you are looking to outsource? · Can the outsourcer provide you dynamic pricing; based on your business requirements?· Is the outsourcer looking to grow with you and partner for a longer term? Simply put are you going to be an important cus-tomer for them?· Do you have a clear set of de-liverables from the outsourcer on what they will provide you and how much effort you would need to put in with them? Not having clear expectations/deliv-erables sometimes creates issues in the future?· Is the outsourcer open to do a small controlled pilot for a cou-ple of months to see how the two organizations work together?HR & Sales outsourcing isn't even optional anymore. It's required if you want to win.
< Page 8 | Page 10 >