Launching A Start Up Is Time Consuming & Exhausting..
....especially when an entrepreneur is trying to do everything on a tight budget. It’s critical not to become overwhelmed by an influx of tasks which could be delegated. Knowing when, how and to whom to delegate responsibilities and tasks is critical to your start up’s success and more importantly to your own health!
Outsourcing tasks enables a start up to focus its limited resources on the development of new business opportunities.
Practically speaking, it’s important to delegate to the highest qualified and lowest cost individual for each task, and to systemize and automate this process, so that you can better focus on areas of importance to your start up By outsourcing tasks, you get a professional job done without the expense of a full-time employee.
Where Is Your Time Best Focused?
Determine and clearly communicate the vision and direction you see for your company, and make sure that everything you and your team do supports this vision.
Focus on seeing ahead to future possibilities and translating them into breakthrough strategies for execution.
Take a broad view when approaching issues by using a global lens and understand in depth the industry and markets in which you are working.
Balance Stakeholders & Managing Conflict
Anticipate and appreciate the various needs of all parties invested in financial outcomes and find the best solutions to issues that arise.
Great leaders know how to handle conflict situations effectively, with a minimum amount of noise.
Establish a positive work culture, where employees feel respected and valued. This is important for the individual, but critical for the company. The employee experience effects how employees perform, and this in turn determines how quickly the company grows.
Provide & Manage Resources
You are responsible for providing resources, in appropriate quantities and at the perfect time, for the company to grow:
Manage Financial Resources
Incoming: your money, outside investors’ money and cash flow from operations.
Outgoing: Employee salaries, training, benefits, marketing, advertising, interest, taxes, supplies and administrative expenses, to name a few.
Build a strong team with qualified individuals in the right roles, bringing the right resources in at the right time.
Manage IT, advisors, strategic partners, professional services, and outside vendors.
As you can see, this last category of providing and managing resources is quite a list. No one person can do it all, or should. You must establish the framework and define the vision and expectations for task execution; however, it is not the most efficient use of your time to attempt to do it all.
Reduce expenses and employee costs by outsourcing these tasks where possible.
For example, if you need to create an effective marketing campaign, is it better to struggle through this yourself, hire a full-time employee or outsource the initial campaign to an expert? Until your start up becomes bigger, it can be more efficient to outsource tasks to the person or organization best suited to the job. You provide the direction for what you want done, and a professional familiar with the best execution does it for you.
At CoStartup & Go we take these tasks off your hands so that you can focus on growing your start up and driving it forward. We cover everything from operations, business management and consultancy to digital marketing, creative design, website development, project management and personal / executive assistance.
With CoStartup & Go, you have instant access to professionals with the most experience. Your tasks get done quickly and efficiently, so that you have more time to focus on the fun task of driving your start up forwards!
Check out what we do here
Written by Alexandra Griffin, Operations Executive / Virtual Assistant, CoStartup & Go New York