Step 1 - Offset letters or shapes
Step 2 - Set cut to fill on all letters
Step 3 - Set cut to 0 depth on all letters
Step 4 - Select inner circle set cut to fill
Step 5 - Select inner circle and all letters
Step 6 - Combine all the selected text and circle
Step 7 - Set the cut of the new shape created to outline. Allows you to select how much offset you want for your letters and reduces cutting time significantly.