Elminating the 60 Hour Work Week for Business Owners
Wednesday, July 25th, 2007I don’t think most people decide to open their own business so they’ll get the once in a lifetime opportunity to work 60+ hours per week. In fact I think that most people hope for exactly the opposite experience; time to go to your child’s soccer games, financial freedom, an opportunity to influence business strategy and the like.
The reality is that owners get so involved in the minutia of running a business that they are unable to take the time to do the things they want to When they aren’t putting out their third fire of the week, they are trying to catch up with the five things that have to be done in order keep the cash flowing. When they aren’t doing one of those things, they are dealing with calls from clients and when all that is done they are working in Quickbooks to make sure payroll is ready and that taxes are appropriately paid. I wonder if the large percentage of businesses that go out of business is really the result of business owners throwing in the towel. Frankly, I can’t blame them.
Yes, it’s true I am trying to set up the Profession Employer Organization (PEO) concept. I mean, why wouldn’t a business owner allow a PEO to help them deal with many of the non-revenue producing functions of their business. PEOs can deal with employee paperwork, payroll, tax compliance, benefits administration, safety training, unemployment claims, employee verifications and a litany of other issues. All of which distract business owners from the real reasons they started their company.
I’ve heard several people say that they are opposed to “outsourcing” some of these business functions because of the sensitive nature of the information. However, these same owners already trust a CPA with their taxes and books, an insurance broker with their health plans, and a law firm with their legal issues. In fact, it’s hard to imagine doing any of these things “in house” because of the specialized skills required to do each
Taking advantage of a PEO helps a business owner focus on their specialty while leveraging the expertise of the PEO to improve employment processes.
Jake Lunt is the General Manager of the Idaho office for A Plus Benefits, Inc.