Top 3 Business Challenges You Can Solve by Hiring the Right Team
Establishing your business is a feat in itself. But the journey to scaling your company? It comes with a whole set of challenges.
Unfortunately, many entrepreneurs dive into business ventures and think, "ah, as long as I have a groundbreaking product or service, I'm invincible." Some of us forget that the game doesn't end there. From the day you have established your company, the finish line shouldn't be the goal – but the track itself. And on it, there's nowhere to aim but forward despite all odds.
We think the best way to stay on track and keep scaling is to prepare for what may come: business challenges, issues, or blockages – whatever word they may arrive, here are tips on how to solve them.
Business Challenge #1: Sourcing from a Sea of Candidate Profiles
Recruiting can be a bit challenging, especially for small and medium-sized businesses. During the establishing months of your business, you might shy away from hiring full-time team members because of operational costs.
Also, a common but not encouraged practice among SMEs is relying on current employees to perform different roles. This is understandable for other businesses who are just starting and those who are still familiarizing themselves with the daily operations.
As the business grows, however, the leadership team must sit together and clearly define the roles they need according to the demands of the business. Hiring the right people is vital and making sure you're delegating them to the right seats is just as important.
A dedicated expert for each essential task will make things easier for you in the long run. Imagine this: if you hire a carpenter for a plumbing job, you will just end up with more repair costs and troubleshoots. But if you hire an expert plumber from the get-go, you can already layout preventions for any plumbing issues that might happen.
If you have plans to scale, bringing in the right people to help and assist you in your company's rapid growth is necessary. Besides, climbing the success ladder has never been a sole man's job. You need the right team.
The next question is: how? Considering all the piled-up tasks you have on your desk, there's no way you can sift through tens and hundreds of resumes to hire the right team member.
The good news is, you have a choice. a) You can look for potential candidates above all your tasks, or b) you can sit back and leave it up to the experts in the field.
The Solution: Look for a Trusted Recruitment Partner
Having a full-operational HR department might seem intimidating. Just thinking of employing everyone from recruitment to payroll can cause massive headaches, especially to a starting entrepreneur.
But times have changed.
Companies are now operating from halfway across the globe and hiring staff from the other half of the world. We've come this far. Businesses today embrace the full-on remote setup.
The HR landscape has changed with the times as well. You can be a global business based anywhere in the world with an HR and Recruitment team in the Philippines. Want to know the difference? Convenience, cost-efficiency, and access to a wider pool of premium talent. Get all that by collaborating with the right recruitment partner.
A reliable offshore partner offers end-to-end HR solutions from headhunting, onboarding, payroll, upskilling, and performance management to employee retention.
This dedicated remote staffing arm will lift those tasks (admin, people, and recruitment) off your shoulders so you can focus on productivity and business matters that need your attention more.
At MutliplyMii, we have recruitment experts efficient in sourcing the right talent for you. In our vocabulary, the right talent means someone who has the skills for the role you're looking for and the attitude that fits your company culture.
These talent may be hard to find, but our team is competent to find them for you, assess them through skill-based and personality exams, and put them in the right seat within your company structure.
Business Challenge #2: Too Much Admin Work, So Little Time
Do admin tasks such as payroll, bookkeeping, or organizing folders and emails crowd your day? If yes, then you are one of those CEOs suffering from too much admin work syndrome.
While that is not a legitimate illness, it causes long-term and jarring effects on your productivity as a leader, your company's scaling opportunities, and your organizational structure.
How? Simple. If you are more focused on mundane tasks, you lose valuable time devising strategies for your company or networking with other thought leaders like you.
Instead of directing your energy to the things you can have more impact on, you get drowned by administrative tasks because you don't have enough people to do the job. Or worse, you think your current staff couldn't handle them.
We get it. These tasks, although most of them are repetitive, are still detrimental to the business.
For example, bookkeeping is crucial to maintaining a company's sustainability. Payroll management is essential to support employee morale and your company's financial reputation. And so on. The bottom line is that, although these time-consuming tasks all play a role in the success of your business, that doesn't mean you should get stuck doing everything.
One of our favorite words hides the magic solution to this: delegate.
The Solution: Invest in People You Can Trust
Before you delegate any task, may it be admin or specialized work, you must be 100% confident in your team. Working with people you don't trust is a problem waiting to explode.
In the digital and remote era, we are lucky to have an expanded pool of talent who possess the skills and the attitude for several job roles.
MultiplyMii has found the gold mine of talented professionals in the Philippines. Contrary to popular belief that the country only offers VA-level and CSR roles, the Philippines houses some of the best specialists and industry experts.
We're talking about top-level content creators, digital strategists, marketing experts, advertising gurus, and more. Hiring from this Southeast Asian country means onboarding highly qualified team members at a lower cost. And the best part? They are also known to be:
- Career-driven - competitive and ready for leadership or advanced functions.
- Fluent in English - The Philippines is named second in the Asian countries with the highest English proficiency.
- Flexible - they adapt to any culture with a special appreciation for Western tradition.
- Best for remote work - Filipinos are no stranger to outsourcing. Plus, they adjust well in different time zones.
Delegating becomes easier when you have a competent team behind you. That's why investing in well-versed talent is the best way to go when you start scaling!
Business Challenge #3: The Fear of Change and the Unknown
Most business owners have a hard time letting go of control. And this is perfectly understandable. Your company is like your own child – you gave birth to it, developed it, and watch it grow.
However, change is inevitable, and things don't always go your way. Late 2019-2020, the world has witnessed a drastic shift in our lives, forcing businesses to adapt to lockdown restrictions, remote or work-from-home arrangements, and all health protocols. The choices were simple then; you either face the music and adapt or give up.
Sometimes, change comes in subtly. It may be a need to change business location because you're not earning your target sales in your current spot, or a change in project management tool because your team keeps having issues on the one you're using.
No matter how big or small the change is, business owners and decision-makers should always be prepared to move, assess, and take action. Because if not, the whole organization is going to suffer.
But how will you prepare for the unknown?
The Solution: Switch to a Team Who Supports Your Vision
It's not rocket science. If you surround yourself with people who can support your vision, you can continue scaling despite unprecedented external challenges.
The main goal: prepare now rather than be sorry later.
Work on strengthening your organization. Lay out a solid company structure, build an efficient leadership team, and hire the most competent team players. All of this will drive growth and scale opportunities for your company.
According to the Entrepreneurial Operating System (EOS), your leadership team must possess five abilities:
- Simplify - they know how to keep things short and sweet; your processes, systems, brand messages, and vision.
- Delegate - they're not afraid to let go of some control and delegate tasks to their team members.
- Predict - they can choose the right path based on present data; forecast long-term (90 days beyond) and short-term (within 90 days) predictions to help the team create long-term solutions.
- Systemize - they motivate everyone to follow procedural steps in your company's core processes.
- Structure - they organize your company structure by defining roles clearly and creating accountability.
Once you have built your leadership team, filling in their respective teams is next. Hire people with skills that match your needs and values that complement your culture.
People who are flexible and trained for the inevitable changes in the business, especially in the digital realm, make the dream team.
When you switch to MultiplyMii, you will have access to A+ Filipino candidates and a full-service dedicated HR and Performance Management Team. Our goal is to support your company's cultural, logistical, and professional areas by ensuring you only onboard people who fit just right in your organization.
We will be your dedicated team that will secure your company can keep up with the changes in remote staffing, performance management, employee training, retention and professional development, and other Human Resources functions.
Explore our client services to know more or book a call with one of our specialists if you have any questions.
The bottom line: business challenges are not your endpoints. They are just mere bumps in the road that you can run over if you have the right people behind you.
