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4 things every Founder wants to but shouldn’t avoid

When starting a company, the focus of the founder is always on the product or service to be provided to clients, but we often tend to forget the small nuances.


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Tealfeed Guest Blog

3 years ago | 2 min read

When starting a company, the focus of the founder is always on the product or service to be provided to clients, but we often tend to forget the small nuances. Every founder’s journey is different when it comes to running a company, but certain things fall in the mandatory bucket.

And to be very honest, those things are not any founder’s favourite list. However, these things are an essential aspect that unwillingly we should focus on to grow and scale the company.

Here are some quick tips to assist you in the journey of focusing on these tasks:

LEGAL WORK

Right from getting the company name registered to sign contracts comes as a nightmare to most founders. Legal work can get dry and boring as it’s filled with tedious processes, especially for creative entrepreneurs. In such cases, there are some things you need to do to make the process easier.

Don’t just go with the first Chartered Accountant you find. Look through a few profiles and understand who will best suit your company. You don’t have to learn the legal jargon but put effort into understanding the process. Here is where a good CA will help you quickly grasp concepts and provide you with quick solutions.

FINANCES

Though this may seem like a stem of the legal tree, it’s actually a completely different tree. While Founders often look at major numbers in terms of sales, overall incoming and outgoing, they don’t look at every transaction that is happening.

Once every few months, it is crucial to go through your bank statements and look at where your money is going or coming from. Don’t just rely on pie-charts and graphs from your finance teams. This is extremely important for smaller organizations as we often have small expenses like email accounts we pay for, interns we hire, etc. that we don’t account for.

RED FLAGS FROM EMPLOYEES

“We are a family, and we should work like one,” how many times have you told this to your employees? How does one then ask a family member to leave the company? They were there during your hard times, right?

Red flags from employees. Image: Personnel One

This is an approach that most founders take when it comes to hiring and firing. Ignoring small red flags like no punctuality, delayed work, casual attitude can severely damage your company. The best way to approach this is by having a talk and tracking their improvement. If you see no such improvement, it’s time to find a new family member.

UPDATING ANY AND EVERYTHING

I am into the social media business, and the very same things that I do for my clients is what I fail to do for myself. When we start a company, we have a website, a visiting card, a database, etc. But as months pass by even though our company has grown, our portfolios are not updated, and our visiting cards still look the same.

Like Jack Welch says, “Change before you have to”. Don’t wait to onboard an agency or until you are looking for investments. All keep everything updated as per daily activities. You can simply hire an intern to do so.

As a founder, running a company can get overwhelming, and it honestly doesn’t matter if it’s just one employee or fifty. But in serving clients and customers, we often tend to make their needs our priorities, and everything else goes in the back burner. During this process, we don’t realize that little by little; all these things are harming our company and stopping us from being our most efficient.

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