As the saying goes, there is no “I” in team. This holds true in many aspects of life. Running a business takes a wide variety of skill-sets – accounting, payroll, sales, marketing, human resources, etc. Chances are most people are not an expert in each category, which is when the “team” comes into play.
While having a “do it all” attitude can be very beneficial for entrepreneurs, closing off to the idea of outsourcing may not be the most strategic move. Businesses that overlook outsourcing could be significantly slowing down, or even completely stalling, the growth of their business.
Why Should I Outsource?
Unless you are an expert in multiple professions and have unlimited time to dedicate to your business, outsourcing is one of the best options. Businesses can benefit from outsourcing in various aspects.
- Outsourcing frees up time for you and your employees. If you and your staff are working overtime to complete the administrative tasks of the business, who is taking care of the rest? Your time is valuable and may be better spent on business planning, marketing business services, and ultimately selling your services.
- You gain access to a team of experts at your fingertips. Outsourcing is a strategic alternative to hiring full-time professionals to be part of your team. Business owners gain access to experts in a variety of fields without having to pay multiple additional salaries. A win-win.
- Depending on who you outsource with, you could gain access to high quality benefits at a fraction of the price. For example, business owners who outsource to a Professional Employer Organization (PEO), gain access to a rich suite of benefits at a more accessible price point for both the employer and employees.
When Should I Outsource?
There is no right or wrong time to outsource business functions. However, it may be time for you to consider outsourcing some critical business functions if:
- Your business would benefit from additional assistance, but you cannot justify adding another full-time employee.
- You and your team are unable to keep up with the day-to-day tasks of maintaining the business
- Payroll processing and management
- Human resource management
- Benefits administration and management
If you have noticed a stall in the growth of your business due to getting bogged down with the administrative tasks – it may be time to consider outsourcing.
What can I Outsource?
Essentially any job function has the ability to be outsourced. Think about it: if there is a professional who can do the job – it can be outsourced. However, some job functions are better off staying in-house. The sales function of a business tends to be more successful when left within the business. There likely aren’t many other people who can sell a business better than a business owner and their team. Leave the tedious administrative tasks to the experts and focus your time and energy on selling your services while growing your business.
This is one of the many benefits of a relationship with a Professional Employer Organization. The PEO allows business owners to outsource the burdensome administrative tasks to the PEO. This gives business owners their valuable time back. Allowing them to focus on selling and growing their core business.
How can I Get Started?
Step One: Think about which business functions would be most beneficial to outsource. Which tasks would be best left in-house, and which would be more efficient if done by someone else?
Step Two: Research the best solution for your needs. If you have one project or job function to outsource, it may be best to outsource to someone in that specific profession. On the other hand, if you have a list of multiple key business functions that need to be outsourced, it may make the most sense to outsource to someone that has the ability to assist with more than one specific business need.
A Professional Employer Organization is a strategic move for business owners who are looking to maximize their dollar when outsourcing. A PEO serves as a one-stop-shop for critical business needs including benefit administration, human resource outsourcing, payroll management, and more.
Focus OneSource – The Best Solution for Your Outsourcing Needs
Focus OneSource is one of the few Professional Employer Organizations domiciled in the state of Iowa. We have been in business for over a decade which has taught us a lot about Iowa businesses and the outsourcing process. As a full-service PEO, we provide our valued customers one source for all of their business needs. This allows them to focus on growing their business while increasing their productivity and profitability.
Unlike traditional PEOs, we also offer our services as an a la carte option. Each business is unique and comes with it’s own set of needs, which is why we provide our customers with choice. The Focus OneSource model allows business owners to hand pick a custom business solution that fits their specific needs.
A relationship with Focus OneSource means access to our rich suite of Fortune 500 caliber benefits, including:
- Medical Insurance
- Dental Insurance
- Vision Insurance
- Life Insurance
- Flexible Spending & Health Savings Accounts
- Long-Term & Short-Term Disability
- 401(k) Retirement Savings Plans
- Employee Wellness Program
- Employee Assistance Program
- Payroll Administration & Management
- Human Resource Outsourcing & Consultation
- Benefits Administration
Contact Focus OneSource today to learn about your customized outsourcing solution!