Building and managing a startup is not an easy task. Converting an idea into a business requires a lot of effort. There are a lot of variables which need to be evaluated and re-evaluated at regular intervals. The most daunting questions which trouble entrepreneurs are related to funding, hiring and management. This is because when it comes to the core idea, you may know exactly what you have to do. As soon as you start thinking about how you have to do it, the straight line path becomes more curved. A business needs to have proper management, a quality team of professionals, records
Things like these are hard to manage and implement. Therefore, most of the startups require a lot of support in their initial years. This comes in the form of Venture firms who provide the necessary funding and various other startup support systems which help with other aspects. But do they solve the underlying major issues which make the requirement of startup support quite essential?
Budgeting decisions are the most brainstormed ones when it comes to startups. There are numerous constraints which have to be kept in mind. Financial risk is the highest for the entrepreneur and his core team who in most cases leave their secure careers and jobs in order to work on their ideas. Even after the initial rounds of funding the budgeting does not get easy. This is because such VC funding is always focussed on the design and scale of operations and allocating it on other areas like hiring or developing infrastructure is always a secondary decision. Therefore, problems always tend to creep up when it comes to getting help from professionals or setting up new departments.
Non-existent HR structure
HR departments are like the last addition to any startup. They are usually added after the growth has reached a certain height. This mostly takes place after 2-3 years of operations when you have funds for establishing the infrastructure and getting the required professionals for HR. Startup support systems fail to provide a robust HR solution at the early stages of development. Thus, it poses a huge problem for entrepreneurs when it comes to managing their increasing workforce and keeping track of the same.
You need a team if want to convert your idea into a business. The core team is well and good but as soon you start raising the scale of your operations, your hiring needs are bound to escalate. This is because as soon as you start expanding the need of marketing, advertising and promotions rise. Thus almost immediately you need professionals with skills in such areas. This process is tougher today due to the numerous digital and non-digital modes of advertising. If you want to hire good and experienced professionals then you will have to establish full contracts and high remuneration structures. But this is not efficient at this stage because your needs are not perennial. You may require these kinds of services for say 2 months and then see their results for the next 5. Thus, you will be paying more than needed and lose important funds in the process.
Unmanageable books of accounts
Keeping track of transactions is also a difficult task. The costs may be little but they are many. At the beginning each cost you incur is a cost to your startup. If your startup support system is unable to furnish you with proper book keeping standards and transaction recording then it leaves a very confusing job in front of you. Plus, you cannot set-up a full-fledged finance department at that moment. That would be a blunder as the costs of maintaining this department will escalate the other costs all together. But keeping track is important because it lets you analyse your progress in real terms.
TOTAL FREAK OUT RIGHT?
Undoubtedly, these issues need to be managed efficiently for a startup to grow smoothly and become more productive each passing day. Startup support systems can help you with knowing about the areas of business which are not directly related to your core idea and corresponding operations. VCs can help you with the funding you need for these operations. But how can you effectively manage these operations and keep track of how your startup is growing.
At Truelancer, we build our strategies and consequently our platform by employing methods which tend to focus on establishment a broader startup support system. With the largest base of freelancers in the Asia Pacific region (over 80,000) we create a diverse environment where more than one aspect of your startup’s management can be taken care of.
You may ask, that how can we successfully provide successful startup support just by providing freelancers for hire? Well for that you have to broaden your scope.
Let Us explain how Truelancer can take care of most of your start-up woes!
Large pool of experienced freelancers
When you visit our home page, you will find an exhaustive list of over 80000 freelancers having expertise and experience in over various categories from web design, content writing, product design to account management, financial reporting and video and audio marketing. The talent list is exhaustive and almost any work you have can be taken care off. All these freelancers are thoroughly verified by us and kept track of in terms of quality, authenticity and experience. Thus we can guarantee their skills.
This pool allows you to break the shackles and hire cost effective people who deliver you with high quality work as per your requirements. No hectic hiring procedures required.
See here, to know how you can hire anyone of them
Easy payment procedures
Establishing a payment mechanism at the initial stage of the startup can be complex and costly. At Truelancer, your payment concerns are taken care of by us at absolutely no extra cost and charges to you. Whenever you have to pay someone, you can do it simply by allocating money in your Truelancer Wallet thorough PayPal, Debit/Credit Cards or Direct Wire Transfer through net banking. That’s it! We will take care that your money is safe and only transferred to the corresponding Freelancer after you are thoroughly satisfied with his work.
Moreover, you do not need to forge annual and monthly contracts. You can post the requirement, immediate or long term and the interested people will contact you themselves in the form of proposals. As these people are interested, you don’t have to think about what happens when the project ends!
See here to know in detail how our payments work
Keeping track of all your transactions through Truelancer is also quite easy. We do it for you. Invoicing will be done at our end for every transaction and these will be stored in your account. They will be available for download at ay time. This will greatly reduce your time in keeping your account books managed and thus will save on all the financial costs, right from the start.
Find the right talent easily
Our exhaustive categorization of skills allows you to move away from costly hiring of experienced professionals and opens you to a pool of experienced, passionate and dedicated freelancers, out there to make a name for them. They love nothing more than to be associated with an awesome start up as it counts remarkable on their portfolio. This is advantageous for you as the more work you outsource to them the more talented people get added to your permanent growing network.
This will prove advantageous for you at the later stages of growth when you need contractual hires. Then you will have reliable individuals in your network to bank upon.
Guarantee of timely work delivery
Our crew here takes measures to ensure that all your work is delivered on time and any issues are reported if incurred immediately via our transparent communication channels. We believe that there should always be proper effort from our side regarding the fulfilment of all your requirements.
For startups it is very essential that they have the right mix of talent, funds and strategies to move forward at a brisk pace and grow effectively and efficiently. With Truelancer, you can strive to easily attain the right balance in this mix. With us, you can hire the right people for as much time as you need. These freelancers also become a part of your growing network. This helps you in further expansion and hiring when you are well established as you already have a large talent pool to choose from. Our reporting of costs and transactions reduces your effort in tracking and recording of the same so that you can focus on major financial concerns. The whole cost of establishing a new infrastructure for expanded workforce is cut to zero as all the work is outsourced and it is our responsibility to get it delivered to you at the right time.
Thus, in the whole outlook, with us you can easily get the startup support you always needed.
What do you think Startup support is all about? Do leave us your comments
Check out our freelancers and hire them HERE
A passionate Blogger and Digital Marketer