I'd love some feedback to help me prepare for a workshop I'm going to be giving. What aspect of the day to day management of your business is most frustrating for you...either you don't enjoy it; it is too time consuming; or you feel it could be done much better/more efficiently?
We focus on our core - the one thing we can do better than anyone else in the world.
We try to outsource everything else - can't always find good vendors though, so we still end up doing some non-core activities.
For me, it's the administrative parts of the business. Tracking time, keeping books, invoicing, paying bills, etc. Critical stuff but bleh.
When we need to hire, we need to hire now, and yet we don't have talent pools or recruiting pipelines in place from which to draw qualified candidates that fit our culture.
An internal analysis found about two (2) in three (3) employees that terminate voluntarily have a tenure of less than two (2) years. With an average turnover of fifteen percent (15%) and an average time to fill vacant positions of approximately sixty (60) days, the loss of profit due to indirect cost recovery exceeded twenty percent (20%).
I feel I'm constantly struggling to keep up with all the startup/business jargon. It's hard to make a decision when everyone's speaking a new language (I'm very new to the startup works).