4 Things that Startup Entrepreneurs Should Do
By Justine Gado | Jun 21, 2019
Establishing a successful startup business comes with numerous challenges. It starts with financing up to finding the right space to rent for the office. However, these are not everything that startup entrepreneurs encounter.
According to a joint survey carried out by CoFounder magazine and ArcticStartup, 37% of startup founders believe that the biggest obstacle when creating a company is finding the right people to help run the business.
Meanwhile, some startup entrepreneurs refuse to share their responsibilities with other people. They are uncomfortable with the idea of giving other people the authority to run their business and is afraid of losing the overall control. But, it doesn’t work like that. It is almost impossible to handle everything on your own if you’re planning on growing your business. And that’s why some businesses chase the most cost-effective yet, high-quality option – outsourcing or offshore staffing in the Philippines.
Now to help you better manage your business, here are a few important things that startup entrepreneurs should do:
1. Get an outside perspective on your audits.
It is better to get an outsider’s perspective to avoid biased audits on your business expenditures. A certified practising accountant (CPA) that is in no way related to you or your business would be a good choice.
The goal of getting an expert’s opinion on your overheads is to double check if you missed a crucial part on your own audit. During the practice, the expert might see miscalculations and come up with ways to improve your processes.
2. Trust your team.
Employees are hired for their specialties and skills, so let them do what they do best – their jobs. Stop checking on your team and trust them to fulfil their roles. Doing so goes to show that you have the utmost faith in them.
Trust is a very risky word but also a solid foundation for a sturdy relationship. Showing them your confidence in their abilities creates a huge impact on their overall performance.
And while leadership is very much important in running a business, you certainly cannot function without your people. So building a strong relationship with your team is definitely essential.
3. Don’t stray far from your goal.
Always remind yourself of your initial goal. Focus on the company’s big picture and don’t get distracted by the “maybes”. Be clear of your overall business plan and don’t stray away from it. Create a schedule to make sure that your team stays on track towards achieving the main objective of your company.
4. Delegate your non-core tasks.
Doing every task on your own could exhaust you completely without even accomplishing your most important function. Lift off few of the burden on your shoulders and delegate some of your tasks to an expert. Do not tire yourself out with the roles that you can easily assign to someone who does it better.
Outsourcing could be a critical turning point in your business so you should choose carefully. You can consult a reputable offshore staffing company to help you handle all your outsourcing concerns.
Our goal here at DBOS is to help you grow your business. All our services are available for low and cost-effective prices. Know more about us when you contact DBOS for a FREE consultation today!