The Struggles of Start-up Entrepreneurs and Its Solutions.

In business world and employment paradigm have completely shifted, thanks to the ever advancing technology and innovation in the workplace.

Experts says that it is definitely a good time to be part of the start up scene. They predicted that this type of business will not be slowing down anytime soon.

It may be more common now that start-ups have its own set of challenges that its founder should address if they want to stick around.

Here are some of the issues start up companies face in order to persist in the ever competitive market.

1. CASH FLOW MANAGEMENT.

This is one of the main factors that separate start-ups to traditional set up businesses-they do not have much funding to operate seamlessly without any financial concerns.

Many start up entrepreneurs may experience the struggle of paying bills while still waiting for checks to arrive.

HOW CAN THEY SOLVE IT?

While it is definitely not easy making ends meet with limited resources, proper budgeting and planning remains to be the best trick to do it. It is also recommended to require a down payment for your products and services. Requiring a down payment, you can at least assured you wont be left paying other bills by padding the down payment with some profit, you can pay your own.

2. LACK OF STRUCTURES

Start-up companies don't follow the traditional set up of established companies from work space set up to even training processes and how they can deal with various issues.

These small scale companies may start working from scratch or just roll with how things go until they can find the best structure that fits their working style.

HOW CAN THEY SOLVE IT?

Having enough knowledge in your company and brand identity should be the foundation of your confidence on eventually finding style and structure that fits you.

Follow a format as a starting point and just adjust and tweak it as you go on. It is better to have a format than leaving you and your employees in the dark when it comes to management.

3. HIRING THE RIGHT EMPLOYEES.

The hiring process can take several days of your time: reviewing resumes, sitting through interviews, sifting through so many unqualified candidates to find the diamonds in the rough.

Not only that the process is tedious, sifting through pile of applicants may also mean a hard time for start up owners to decide who are the right people to help them realize their vision.

HOW CAN THEY SOLVE IT?

Be specific with what you want. Put up a list of criteria that is not vague and would definitely filter a lot of potential applicants.

Be exact when it comes to what are the duties are, what days and hours will be worked and what wages and benefits will be paid.

Being direct will eventually save you from the hassle of numerous calls and emails asking for clarifications.

4. FOCUS AND TIME MANAGEMENT

Start up companies are usually small. There are only few people operating it which maybe both a pro and con for the business.

Time management maybe the biggest problem faced by entrepreneurs, who wear many hats and perform many duties.

HOW CAN THEY SOLVE IT?

Hire a Virtual Assistants.

Virtual Assistant are one of the most viable options for start up companies today because of the convenience their services provide, especially for your start up companies. The best benefits Virtual Assistant can give is the incremental cost to your budget is negligible.

You will only pay the Virtual Assistant fee which is calculated on a per productive hour basis-getting your money's worth in the long run.

Hiring a Virtual Assistant is the most smart move you could make.

They could introduce efficiency as they should be in charge of the small task that are not really worthy of your precious time such as :

• Email Filtering

• Calendar Management

• Phone Handling

• Accounting

• Website Management

• Market Research

• Graphics Design

• Transcription Services

They would be a lot helpful in task delegation, especially for smaller and more tedious task that could eat much of your time.

Lastly, hiring a virtual assistant can save you a lot of resources if you don't have an office to house many employees.

You might have to pay a little more for it but the savings in time more than make up for it.

Tags:#startup,#entrepreneurs,#freelance,#virtualassistant, #onlinejobs