Starting Up: Tips And Tricks to Getting Set Up The Right Way

Starting Up: Tips And Tricks to Getting Set Up The Right Way

Did you know that 33% of small and medium-sized businesses get fined for not doing payroll correctly? That statistic is just one of the useful pieces of information that Robert Lopez of Justworks shared during our webinar: Tips and Tricks for Founders at the Starting Line. Stay tuned for the recording of the presentation on our YouTube channel.

Of course, most founders have little knowledge let alone expertise, of the myriad of federal, state, and local regulations around compensation, tax and insurance compliance, or of how to manage employee benefits programs. And when it comes down to it, founders should focus their greatest energy on product development and customer acquisition efforts — not on compliance and administrative tasks.

Robert cited Y Combinator alum and Amicus CEO Seth Bannon, in advising founders not to cut corners on important infrastructure. Instead, he advises outsourcing non-core functions early. With time being a resource often just as scarce as money is, finding the right professionals to set up your infrastructure correctly will save you time and money in the long run.

Starting Up: Must-haves

Starting Up: No-nos

Even if you do everything else right, these huge, and sadly very common, mistakes can be make or break.

Starting Up: Insurance & Benefits

Starting Up: Legal and Employment Law Considerations

By focusing on your core competencies, bringing in outside professionals when you need to, and dodging rookie mistakes you’ll not only get your startup infrastructure set up as efficiently as possible. You’ll also be laying the groundwork for your business to grow and scale.

Need help or have advice to offer on getting set up? Let us know in the comments section below or contact Early Growth Financial Services for a free 30 minute financial consultation.

Liked this post? Subscribe to our newsletter to get our posts on startups sent directly to your inbox.

Deborah Adeyanju is Content Strategist & Social Media Manager at Early Growth Financial Services, an outsourced financial services firm that provides small to mid-sized companies with day-to-day accounting, strategic finance, CFO, tax, and valuation services and support. Deborah is a Chartered Financial Analyst (CFA) charterholder with more than a decade of experience as an investment analyst and portfolio manager in New York, London, and Paris.

Related Posts:

chatCONTACT US today for a free consultation to discuss the financial pain points of your business.