If you've been holding on to an idea for a great startup here in the Philippines, then you better hurry up and build your foundation. While it isn’t news that micro, small, and medium enterprises here in the Philippines are a huge portion of the enterprises, (99.56% of them as of 2017, in fact) it’s interesting to note that majority of the founders of these startups are past employees of large enterprises.
What does this mean? To put it simply, the longer you wait, the higher the chances are that your idea for a business will no longer be unique. Thinking of your experiences as an advantage will be your downfall since many of these founders have already worked in a corporate environment and know the essentials to start and maintain a business. Odds are, by this time there’s already some form of your idea out there already in its early stages and is fit to be called a micro business.
With prior research on how you could launch your business, you could begin the initial steps required in starting your business. This is easier said than done, as the process is tedious from the get-go. From planning your business plan, registering your business, to securing business permits, it takes a lot of manpower (not to mention brain power) to achieve all this in a short amount of time.
Get yourself out there as soon as possible so you can benefit from the advantages of a good head start. Hiring trustworthy people who specialize in areas such as financial planning, accomplishing legal papers, HR management and the like will reduce the time needed to accomplish these tasks. These people will be essential in establishing your startup, since you know very well that carrying the burden of all the processes on your own will be impossible. Getting started ahead of your competition not only gives you more experience in dealing with road bumps, but it’ll also an edge that only time can give you.
Delegation of your company’s tasks is key to achieving the goal of growing your business, let alone keeping it alive. Adam Smith, the Father of Economics, said it himself: working an assembly line with each part having their own specialization allows you to have a more efficient output rate.
However, delegating each specific task to a single employee would be taxing capital-wise. If you think about it, striking a balance of having a single employee do as much as s/he can without risking the quality of the output will save you tons of cash. Enter: the technological advancement that covers for these problems.
Using modern tactics to reduce the workload of your employees without the sacrifice of quality has been the goal of automation. In our current age of technology, multiple processes that are usually deemed to be a hassle can now be done with a few clicks or a press of a button. In terms of keeping track of employees’ working hours, paper timesheets were used in order to calculate their wages. Their time worked had been manually written down on paper and pencil, a method that was vulnerable to human error. This very tedious process has since then been solved by automated systems that does the timekeeping for you.
One of the more remarkable innovations that has been the result of technology is automated payroll systems. Usually, this process is seen as an obstacle every payout since your employees depend on their salaries in order to find worth in staying in your company. Manually calculating their wages, deductions, reimbursements, and premiums is not only a painstaking job but time consuming and very prone to error that you cannot escape from if you don't want your employees escaping from you. Tsekpay.com is an honorable mention regarding these innovations, considering how user friendly this app is.
Keeping your employees onboard with your business plans, while not foolproof, is a solid way for keeping your hectic schedule up to speed. Having one of your valued employees leave due to a payroll issue would not only make you lose a valuable part of your team, but it would leave you behind schedule in an already fast-paced environment. So, don't hesitate to opt for automation in trying to catch up with your business plans. It might just be your make or break decision in trying to breakthrough as a startup business.