When starting a business, you will practically be everything. You have to learn all the trades there are in your area. Some trades are universal such as human resources and marketing. Few people start a business when they have all it takes to succeed. It involves learning and sometimes costly errors. If a task comes up that requires skills that you don’t have, invest your resources into it. If not financially, dedicate your time.
Here’s how to handle some of the core functions of the business:
Handling HR
It is the first thing that will hit you once you start a business. You will see a task that requires an extra hand. How do you go about it? There are several skills you will need here. For every job, don’t cut corners, follow the steps below.
- Prepare a job
- List down the skills and qualifications
- Design the job timeline and compensation package
- Identify a suitable method of payment
- Prepare for employee reward and recognition
- Strategies Job posting and publicity
- Do the shortlisting and interviewing
- Prepare legal paperwork on contracts and terms of service
At first, you can start with independent contractors. You can find them online through freelancing platforms such as Upwork. All you need is to post a task, set the criteria for qualification, review applicants, shortlist, and hire.
When dealing with sensitive company data, be careful with independent contractors. You can use the old school way. Once you make your first office-based hire, you have to ditch the garage. It is hard to attract great talent when you are startup; do not make it difficult for yourself any further by having someone work in a less desirable place.
Handling your PR
Your mouth will be the first PR agency that you will have to recruit, nurture, and retain. Build networks by hanging out in the right crowd. Asking, commenting, and reviewing are reliable icebreakers when it comes to business conversations. Once you have your networks in place, activate them. Use the following tools to expound on networks.
- Set up and optimize your website—you will need an expert here for sure
- Set up and optimize social m
- Create content for your website—podcasts, infographics, pictures and videos are easy to make if you have a smartphone
- Use guest posting and collaboration
Doing your marketing
Selling can solve most of the problems that startups face. Operating costs require regular cash. One way to supplement it is through sales. To make sales, you need quality leads.
- Get the word out there with your PR efforts
- Promote your product—you can use affiliate marketing, direct marketing or even paid ads
- Create an email list—use the list to keep your customers engaged
- Create a customer loyalty program—it is cheaper to retain a customer than to win one
Market research and targeting will determine how well you do the above. Driving traffic to your website or store will require regular and strategic content. Blogging is a proven way to boost organic traffic. Social media marketing tools are also straightforward to use. Set up Google for Business and Facebook marketing platforms. The more people you bring to your site, the higher your chances of making sales.
How to stay ahead of your bookkeeping
It is never a favorite subject for entrepreneurs. However, you have no option on this one. The trick lies in staying organized. You may not know how to calculate your taxes, but you must keep the records clean. Make it a habit of documenting everything in an orderly fashion.
Thanks to technology, you can use free online bookkeeping tools. A simple mobile app can help you do most of the bookkeeping. If you want it the traditional way, calibrate you excel sheet into sections where you note down sales, expenses, payables, taxes, assets, etc.