As the saying goes, there is no “I” in team. And this holds true in more than just sports. 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 all of these categories, which is when the “team” comes into play.
Some entrepreneurs think they can do it all, and although that is possible, closing off to the idea of outsourcing can significantly slow down or even completely stall the growth of a business.
Why Should I Outsource?
Unless you are an expert in every profession and have unlimited time to dedicate to the business, outsourcing is one of the best options. There are many ways growing businesses can benefit from outsourcing.
- Outsourcing frees up time for internal staff. If you and your staff are working overtime to complete the administrative tasks of the business, who it doing everything else? Your time may be better spent on activities such as strategic planning, marketing business services and ultimately selling your services.
- When outsourcing, you gain access to a team of experts at your fingertips. Outsourcing is an alternative to hiring full-time professionals to be part of your team. The business owner gains access to experts in a variety of fields without having to pay multiple additional full-time salaries. A win-win.
- Depending on who you outsource to, you could gain access to high quality benefits that could otherwise be out of reach due to financial reasons. For example, business owners who outsource to a Professional Employer Organization, also known as a PEO, gain access to Fortune 500 type benefits at more accessible price points for the employer and employees.
What Should I Outsource?
There is no right or wrong time to outsource functions of your business. It may be time for your growing business to consider outsourcing critical business functions if:
- Your business could use some extra assistance, but you cannot justify adding another full-time employee to your team.
- You and your team are struggling to keep up with the day-to-day tasks of maintaining the business.
- Payroll processing and management
- Human resource
- Benefit administration
If you love your business, and of course you do, but have noticed a stall in the growth of your business because you are getting bogged down with the administrative tasks – it may be time to consider outsourcing!
What can I Outsource?
An easier question to answer may be “what cannot be outsourced?” as most business functions can be outsourced. Think about it: if there is a professional out there who can do it – it can be outsourced. However, a piece of the business that should not be outsourced is the sales aspect. Who can sell your business better than you, the business owner, and your employees? Probably not very many people, if anyone. Leave the tedious administrative tasks to the experts and focus your time and energy on selling your services and growing your business.
This is a great aspect of a relationship with a Professional Employer Organization (PEO). The PEO allows business owners to outsource the burdensome administrative tasks to the PEO. This gives business owners the time they need to focus on selling and growing the business.
How can I get Started?
Step One: Figure out which functions of the business need to be outsourced. 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 easiest to go with a professional in that specific job function. On the other hand, if you have a list of multiple key business functions that need to be outsourced, it may be best to go with an option that can help with more than one of your business needs.
A PEO is a great option for business owners who are looking to maximize their dollar when outsourcing. A Professional Employer Organization 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 growing businesses and the outsourcing process. As a full-service PEO, we provide out 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 out services as an a la carte option. Some business owners may not want the full service PEO, and this gives them an opportunity to benefit from the valuable resources and personalized business solutions of the PEO.
A relationship with Focus OneSource means access to our rich suite of benefits, including:
- Medical Insurance
- Dental Insurance
- Vision Insurance
- Life Insurance
- Flexible Spending Accounts & 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!