In case you missed it, Michael Chavira from Axiologic Solutions was recently quoted in Pete Martin's post about unlocking the secret to growth without raising external capital, sharing his invaluable insights! ๐ฃ Big shoutout to Axiologic founders Michael and Tom Stauber for their visionary leadership. A special thanks to Pete for highlighting their entrepreneurial journey and innovative contributions! #Leadership #Entrepreneurship #Innovation #Axiologic #BusinessExcellence #GovCon #IC
Author of Scale Up Faster, Inc. Magazine Columnist, Sell-Side Advisor, Business Growth Coach, Speaker, 6X Founder with 4 Exits, Online/Mobile Voting Founder and CEO, and Classic Rock Drummer.
๐จ๐ป๐น๐ผ๐ฐ๐ธ ๐๐ต๐ฒ ๐๐ฒ๐ฐ๐ฟ๐ฒ๐ ๐๐ผ ๐ฎ๐ฐ๐ฐ๐ฒ๐น๐ฒ๐ฟ๐ฎ๐๐ถ๐ป๐ด ๐ฏ๐๐๐ถ๐ป๐ฒ๐๐ ๐ด๐ฟ๐ผ๐๐๐ต ๐๐ถ๐๐ต๐ผ๐๐ ๐ต๐ฎ๐๐ถ๐ป๐ด ๐๐ผ ๐ฟ๐ฎ๐ถ๐๐ฒ ๐ฒ๐ ๐๐ฒ๐ฟ๐ป๐ฎ๐น ๐ฐ๐ฎ๐ฝ๐ถ๐๐ฎ๐น (๐๐ต๐ฎ๐ ๐ ๐ฐ๐ฎ๐น๐น ๐ฏ๐ผ๐ผ๐๐๐ฐ๐ฎ๐น๐ถ๐ป๐ด). In my study of the fastest-growing bootstrapped companies, I found that they consistently and strategically outsourced functions at the right time along their growth curves. Part of their business strategy, consciously or not, was to outsource their back-office functions while insourcing most or many customer-facing activities. They understood that the customer experience is a significant differentiator and wanted to ensure that this responsibility was not abdicated to a third party. None of the companies I interviewed outsourced any function that directly touched the customer. I asked the BFGs why they kept those tasks in-house, and most of them stated that their in-house teams are more aligned with the companyโs culture and values, which they believe are crucial for maintaining a consistent customer experience. Outsourcing the non-customer-facing functions gave them the cost-savings and flexibility to change vendors and systems as they grew. Imagine having to retool your accounting, finance, and HR systems every few years as you double your business annually. (That sounds awful!) This is better left to the experts. Neelu Modali told me that they fluctuated between keeping back-office functions in-house and outsourcing them, depending on their growth cycle. @michaelchavira of Axiologic stated that using a PEO in their first few years was crucial for their rapid growth since they didnโt have to worry about hiring, firing, benefits, or payroll and could focus on selling new projects. He told me that, โ๐๐ง ๐ ๐ฉ๐ข๐ฅ ๐ต๐ฐ ๐ฅ๐ฐ ๐ช๐ต ๐ข๐จ๐ข๐ช๐ฏ, ๐ ๐ธ๐ฐ๐ถ๐ญ๐ฅ ๐ด๐ต๐ช๐ญ๐ญ ๐ฉ๐ช๐ณ๐ฆ ๐ข ๐๐๐ ๐ฃ๐ฆ๐ค๐ข๐ถ๐ด๐ฆ ๐ช๐ต ๐ธ๐ฐ๐ถ๐ญ๐ฅ ๐ด๐ข๐ท๐ฆ ๐ข ๐ญ๐ฐ๐ต ๐ฐ๐ง ๐ฉ๐ฆ๐ข๐ฅ๐ข๐ค๐ฉ๐ฆ๐ด ๐ข๐ฏ๐ฅ ๐ต๐ช๐ฎ๐ฆ ๐ต๐ฐ ๐จ๐ฆ๐ต ๐ต๐ฉ๐ช๐ฏ๐จ๐ด ๐ด๐ฆ๐ต ๐ถ๐ฑ.โ At first, they tried to do everything in-house, including managing their healthcare costs, but it was expensive. Using the PEO worked well for them and helped them manage these costs, but eventually, they transitioned away from using the PEO. Making outsourcing work for you isnโt without its challenges. As many of these companies have discovered, integrating external and internal teams requires robust communication channels and a clear understanding of shared goals. What's your next outsourcing opportunity to accelerate growth? - Pete Learn more > www.scaleupfaster.com #growthhacking #businessowner #businessgrowth #entrepreneurship #scaleupfaster