PEO Gold Rush?
One of my favorite shows of the past few months is Gold Rush on the Discovery channel. Gold Rush is a documentary-style show that follows three groups of struggling, small-time gold miners in Alaska. These men have risked pretty much everything they own for the allure of striking it rich. For five months they endure life in the Alaskan wilderness living out of campers having invested nearly all of their life savings and then some in order to mine for the precious mineral that is selling for $1600 an ounce. It costs them $1,000 a day just to cover operating costs which primarily consists of diesel fuel to run their heavy equipment and power generator.
What does gold mining have to do with PEOs you ask? Here’s how. If these men achieve their goals and are able to find just 100 ounces of gold, by my calculations ,they will each only pocket $15,000-$20,000. I currently have an insurance broker that makes more than that each year off of just two, regular-sized accounts he referred me. So let’s recap, you can risk your life, limb, and savings, leave your family behind, live in the Alaskan wilderness for five months, and make $15,000-$20,000, or you can refer your clients to a PEO that shares revenue and make that amount and then some each year passively.
While I’m sure the Alaskan wilderness would make a great “office with a view,” I’ll continue to mine the “pay dirt” that is PEO. Consider referring your clients to a PEO broker like Outsourcing Consultants, Inc. if they need help in HR, risk management, payroll, or if they have difficult-to-place benefits or workers’ compensation.