Are you looking to scale your firm?
Offshoring is an effective tool to help you achieve that growth.
It’s important to remember that offshoring is not a magic bullet. It’s a long-term proposition that needs an investment of time and effort to be successful. Indeed, initial success and long-term success are different and must be addressed separately.
Done well, offshoring can produce great results for your firm. But you don’t want to rush into the process. Here are three things to consider before you scale:
The challenges of scaling are different to those of starting a firm or running at steady state. At the same time, your firm needs to keep the wheels turning whilst you pursue growth.
Moving your firm to a growth footing requires you to have confidence in the people and systems in your firm. This doesn’t mean halting your growth plans for six months whilst you document processes. It does mean that your practice must be able to function whilst at least some of your time and energy is focused on growing the business.
Often times, practice principals are deeply involved in every aspect of their firm. This can lead to principals micromanaging their team, rather than empowering them to make decisions within the scope of their role.
If your team is super dependent on you, you cannot scale – there’s only one you and only 24 hours in a day.
As you consider how to scale, you should consider what types of work can effectively be delegated within your local team and offshored by your firm.
Every firm is different. Its internal skillsets and experience are different. Its level of comfort in delegation of processes and outcomes is different. You need to assess where your firm’s level of comfort lies today. This may change over time, as you gain scale and trust in the quality of the work that you’ve chosen to delegate or offshore.
An offshoring provider can help you scale effectively. Offshoring can help your firm improve processes, match the right people with the right tasks and effectively retain staff to increase efficiency and productivity. It should be a process undertaken with due regard to the challenges involved and also the nature of your practice.