Industry Advice for Start-ups

Getting your first business off the ground is going to be the biggest challenge most people face in the business world. The sleepless nights. The endless cups of coffee staring at spreadsheets. The marketing research and the financial planning. There’s an Everest of tasks to conquer, and the truth is that the tasks are never really complete – if you’re good at what you do, you’ll just become better at handling business demands and streamline your process until you resemble something not too dissimilar from a competent business leader. Sounds grim, doesn’t it. That’s why business isn’t for everyone. If you’re ready to take on the fight, however, a life of making your own decisions about how to spend your time awaits. There’s no clocking in time for a CEO. but also, be aware that as CEO, you’re never really off the clock either.

Startups strategy

One piece of advice for start-ups with between 5 – 100 employees is to look into PEO companies.

What is a PEO company?

PEO stands for professional employer organizations. In a nutshell, the services provided by a PEO company allow the business owner to outsource human resources and accounting services. This significantly cuts down on-site staffing requirements and means the business owner can focus resources on core objectives. Of course, where a staff body swells to numbers in excess of 100, business sense dictates that an in-house accounting department and human resources department take over, as the need for resources from the PEO company would begin to mount to a level tantamount to full time employment.

Pick and choose the services required

The great thing about PEO companies is that often you can pick and choose between the services provided – meaning you do not have to pay for a set package deal that may include services that have little or no relevance to your company. By the same token, these services also become scalable to meet your demand – where you require extra payroll administration or general employee administration, your PEO company will happily update your agreement and expand its duties as required. This means that you no longer have to worry about considerations like planning for workers’ compensation rights in the event of an accident or injury, as your agreement can be altered or expanded to include any needed services for a temporary time frame before returning to your original agreement.  Do your research and discover how PEO companies can save you time and money.

About Mohit Tater

Mohit is the co-founder and editor of Entrepreneurship Life, a place where entrepreneurs, start-ups, and business owners can find wide ranging information, advice, resources, and tools for starting, running, and growing their businesses.

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