Startups are not an easy journey to begin on and it is certainly a lot harder to stay on the journey. The journey will be long and ardous but it will be worth it as long as you know what you are getting yourself into. It is not an easy climb but we guarantee that the view will be exquisite.
So how does one improve the overall performance of a startup? Well, there are 3 main factors that we believe are required to make the whole startup performance process a lot more better and well-managed.
Hire The Right Team Members
It is true that a good team is one of the best ways to succeed. The best way to improve performances is to put the right people in the right driver seat. You need a team that you trust to work on the most important things especially when you are not around. As a founder or a CEO, your time is very limited and if you spend all the time trying to correct the mistakes your team makes, you will miss the time you can actually use to work on the company.
When you have a team that you can trust, you will save all the time and money to be able to re-invest into your company in the long run. To ensure this happens, your team needs to know how their work affects the bigger picture.
Know Your Key Metrics and Goals
When you have a target in mind, it will then become much easier to create the way to get there. If you are just firing blindly, you will not be sure if you are even working towards the right goal. In the start of the year, you would need to know what your goals are and what you need to work on for the year. Define what you want the year to look like for your business. Ensure that you sit down and figure it out with the rest of your team to make sure that they are also on board with the goals. Once they are also on board they will all be determined to work towards your goals too!
Also ensure that you have metrics that will be able to measure the progress you are making towards the goals. These metrics will definitely help to check where you guys are at when working and how much closer or further you are from the goals.
Focus and Continuously Improve Processes
Failing processes and SOPs can be the downfall for even the biggest companies. If you do not identify the processes that you need to work on on a daily basis, you will never be able to scale. If startups cannot scale, then there is no way you can grow.
Always look at your processes and try your level best to make it scaleable and even better, improve them all the time.
Here in Malaysian the Malaysian SSM has just released a new reporting tool called the MBRS tool that will help you report your annual returns and a whole lot more. It will soon become a mandatory tool that must be used by every registered business.
To ensure that your team is ready for this amazing upgrade, please make sure that they attend these workshops to get certified today. All the necessary data about using and maximizing the Malaysian Business Reporting System are right at your fingertips. Choose the right training provider and get exclusive MBRS tutoring