Giving HR One Client at a Time
The human resources market is lucrative, with an estimated 53 percent of all companies outsourcing some part of their HR.
2008-06-23
PrintIn the late-90s and into 2000, Dana Smith was like many other people who sought out promising careers at a dot-com company. She loved the dynamic atmosphere working for a technology start-up performing human resources functions. When the dot-com bubble burst, Dana found herself unemployed, without any desire to return to a job that was less exciting than being at a technology start-up.
Dana decided she had enough of the traditional 9 to 5 job and decided if she couldn’t work for a start-up, she could start her own company. So in 2001 she founded Exalt Resources, which provides HR outsourcing services to a variety of clients including small businesses, non-profit organizations, and faith-based organizations. Her services include benefits administration, payroll administration, employment management, staffing, workers compensation, and training.
Seven years later, the biggest challenge Exalt Resources currently faces is to expand the company without sacrificing the unique customized service it provides to its clients. To do this, Dana believe she needs an aggressive business development plan that would outline a service delivery model that is scalable.
The human resources market is lucrative Dana says, with an estimated 53 percent of all companies outsourcing some part of their HR. Yet there are many other human resource outsourcing companies Dana must compete with. To overcome this, Dana seeks to develop strategic partnerships with other HR companies by performing other HR tasks they might not provide. She sees a lucrative market in faith-based organizations that may need HR services and hopes to develop partnerships with other vendors that are in that market. Dana also hopes to create more revenue streams through selling training products such as videos and possibly books.
Exalt Resources is in a solid market since there are plenty of companies that need outsourced HR services. Dana is seeking to define her company’s niche and grow beyond being a two person operation with some part-time contractors. If she continues to aggressively seek new markets and add more staff as the company grows, Exalt Resources has the potential to become a medium to large-sized company. However, the problem can be staying in a comfort zone of a small business with enough income to get by.
Dana seems highly motivated to grow Exalt into a larger company and backs it with good ideas, energy and ambition. Her entry to the BIG Business contest reveals a desire to utilize advisors and create a proper business plan. If she wins, she can clearly take her business to the next level. However, she faces strong competition from our other semifinalists. But that’s what we love about the business world, the competition that emboldens and strengthens our business leaders with the chance to make BIG things happen.
Dana decided she had enough of the traditional 9 to 5 job and decided if she couldn’t work for a start-up, she could start her own company. So in 2001 she founded Exalt Resources, which provides HR outsourcing services to a variety of clients including small businesses, non-profit organizations, and faith-based organizations. Her services include benefits administration, payroll administration, employment management, staffing, workers compensation, and training.
Seven years later, the biggest challenge Exalt Resources currently faces is to expand the company without sacrificing the unique customized service it provides to its clients. To do this, Dana believe she needs an aggressive business development plan that would outline a service delivery model that is scalable.
The human resources market is lucrative Dana says, with an estimated 53 percent of all companies outsourcing some part of their HR. Yet there are many other human resource outsourcing companies Dana must compete with. To overcome this, Dana seeks to develop strategic partnerships with other HR companies by performing other HR tasks they might not provide. She sees a lucrative market in faith-based organizations that may need HR services and hopes to develop partnerships with other vendors that are in that market. Dana also hopes to create more revenue streams through selling training products such as videos and possibly books.
Exalt Resources is in a solid market since there are plenty of companies that need outsourced HR services. Dana is seeking to define her company’s niche and grow beyond being a two person operation with some part-time contractors. If she continues to aggressively seek new markets and add more staff as the company grows, Exalt Resources has the potential to become a medium to large-sized company. However, the problem can be staying in a comfort zone of a small business with enough income to get by.
Dana seems highly motivated to grow Exalt into a larger company and backs it with good ideas, energy and ambition. Her entry to the BIG Business contest reveals a desire to utilize advisors and create a proper business plan. If she wins, she can clearly take her business to the next level. However, she faces strong competition from our other semifinalists. But that’s what we love about the business world, the competition that emboldens and strengthens our business leaders with the chance to make BIG things happen.
