If you're a start-up PEO or a PEO that needs to retool - it's best to step back, dig deep and ask yourself probing questions about how you run your business.
If you've done the research and decided, "yes, I really want to Start a PEO (Professional Employer Organization)." After you toss aside thoughts of "what did I get myself into," it's time to answer what's next, what does it entail, and how can I set my business up for success?
Or . . . you own an existing PEO, and you wonder why it is not growing the way it should. You just can’t put your finger on it. You've tried to change the path, and just ended up frustrated. You don’t know where to turn.
In both case scenarios, you need help from an outside source who has walked the same path, gone through the trials and tribulations and can guide you on the dos and don'ts.
For the first scenario, a Starup PEO, Here are some questions to ask:
- Do you understand all the complexities of running a PEO?
- Do you understand all the individual fiduciary matters?
- Have you considered control group issues?
- Have you considered what type of PEO you want to be? What does this mean?
- What is your value proposition?
- What is your go to market strategy? Why?
- Is your PEO going to cross state lines? What does this mean to your PEO?
Getting a thorough understanding of the right path you want to take before you start your PEO is crucial to your overall success.
For the second scenario . . . you're an established PEO that has been in business for a while. But you can’t figure out why you are not growing. You can’t get over the hump and get to the next level.
You need to find a partner that can help you do an extensive assessment of your business. Just like a car, every company needs a checkup..
- What do your processes and procedures look like? Do you have built in processes and procedures?
- What does your sales cycle look like? What kind of fact finding do you do?
- What does your finance and billing look like?
- What does your technology platform look like? Is it up to date and integrated with all the tools you need?
Who can help? We can - IntegreatHR. We offer an unique first-in-class and best-in-class process that helps your Startup or existing PEO not only survive but thrive. Our methodology gets you to market faster or can get you over the hump and grow faster.
What's our formula for success? [(v2 + m) + a] + (AR2) = P
We can will help you Assess, Align, Retool and Retain and synchronize your people, process and technology. Let us help solve your problem.
Brent King, Director of Business Development, IntegreatHR Technologies
Brent has two decades of experience helping companies take care of their people. He brings extensive knowledge of HR and technology solutions to IntegreatHR.
Topics: PEO
