Leading a business successfully means combining various skills. These skills challenge CEOs as well as managers repeatedly in their respective fields.
The yearly tax return serves as a good example. It is unpopular and takes a lot of time. However, it is mandatory. Most of the Swiss taxpayers ask for an extension of the tax deadline. By doing so, they knowingly accept to pay a fee or a default interest. It takes time to gather the documents, enter the correct information, and check all possible conclusions.
If you are a fiduciary or a tax expert entrusted with the tax return of a client, your focus is just right: This is your operational business, and you can invoice every minute you invested – and make a profit.
However, if you are focusing on other areas in your operational business, consider outsourcing tax returns. It makes sense from a professional as well as from a financial point of view. As we all know, time is valuable – be it at work or in private life.
The focus is on your operational business
When it comes to the successful development of the company, it is crucial to focus on the essential – this is particularly true for SMEs. Oftentimes, a person with diverse qualifications – a so-called generalist – is entrusted with tasks regarding finances or human resources. Whereas big companies can scale and have whole departments of specialists at their disposal, smaller companies instantly feel the repercussions of complex questions within a team. Thus, the management also has to cope with these kinds of questions in-depth.
In such a case, it is profitable to seek external support. Before outsourcing, the company analyzes its needs and defines the tasks it wants to delegate.
The decision to outsource tasks to external experts has to do with one’s personal approach in many cases. In small and medium-sized enterprises (SMEs) in particular, the prevalent view is that these obligations are part of “being a boss”. Is there really a benefit by doing it yourself or are the opportunity costs too high? Assess for yourself. Entrepreneurs have a limited daily productive working time too.
Rather invest the time into having dinner with a client. Or go for lunch once a week together with your team. Interpersonal factors and maintaining good relationships with clients and coworkers are tasks you can neither delegate nor outsource.
We help you optimize your everyday work. Get in touch with us so we can help you focus on the essential.
August 24 2021
