Selling your Business??--Focus on your Business, Outsource!


Posted by: Fernando Simo in Selling Your Business on Sep 25, 2009

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During one of my listing appointments, I met a seller who wanted to sell his business in order to improve his quality of  life—he wanted to spend more time with his family. According to him, he spent over sixty (60) percent of his time doing things that had nothing to do with the actual operations of the business—the back office stuff.  He complained that the forty (40) percent he spent focusing on his business, although enjoyable, was not enough to provide the kind of bottom line profitability he needed to provide for his current life style. Therefore, his solution was to sell the business.

 

Unfortunately, this story is not uncommon.   Business owners should know that to improve profitability their focus should be ninety (90) percent or more on their business and a limited amount for everything else. They should focus on the critical skills needed to the run the business and outsource all non-critical areas; such as payroll, human resources services, accounting, billing and collections, etc.   Not only would you be able to focus more on your business and, therefore, generate more profits, but you may also improve profitability be reducing the cost of those time-consuming services. Today, Professional Employment Organizations (PEO’s), normally reduce the cost of payroll processing and workers compensation insurance while providing additional benefits, such as human resource services--limiting your liability as an employer while allowing you full control over your employees. Your legal fees, business insurance and employee headaches should be reduced significantly through this process.
 
So to improve your quality of life, profitability and business enjoyment, outsource!!!
 
Should you want to know more about buying or selling a business in Central Florida, please contact Fernando Simo at 407-361-8886, email me at fsimo@tworld.com or please visit my webpage at www.bizbuyorsellflorida.com