Lone wolves versus teams—is it even possible today to create a successful startup alone?
The success of famous single-person startups excite the minds of many aspiring entrepreneurs who think they can take on the world all by themselves. While the idea of starting out on your own may be appealing to your inner lone wolf, you may want to take a more in-depth look at the pros and cons of doing it with a tough team of one.
PRO: You are the sole owner and decision-maker of the company.
When you have a vision, it can be hard to communicate it to other people. You’ll probably encounter different opinions on the same issues. Do you really want the additional challenge of convincing your employees and cofounders that you’re right? What if they don’t listen?
CON: Being jack of all trades will make you master of none.
People tend to have specialized skillsets that roughly define them as either more business-oriented or tech-focused. Both skillsets are crucial to the success of your startup. You need to have a portion of both to build the product and market it successfully.
PRO: Running lean makes your operational costs extremely low.
The team may add a lot of value to the project but there are multiple overt and covert costs of maintaining even a few employees. You need to dedicate your time to hiring and bookkeeping, you pay salary and employment taxes, provide office space, equipment, and benefits.
CON: Filling in critical positions is crucial to success.
There are only so many hours in a day. After the initial stage is over, you need make sure your business continues to grow. You will need to hire decisively when the time is right for expanding and fill the roles that give the most value to your product or service.
PRO: Expanding and shrinking your team on the go.
The majority of single-person businesses contract some work out as soon as their finances allow. Bookkeeping and taxes are one of the tasks that businessmen outsource early on. Contracting work out instead of hiring a permanent employee allows you to stay flexible with your budget.
CON: Freelancers are unreliable.
Working with freelancers is risky in many ways. Before you find the right people, you’ll have to deal with low quality work, unreliable delivery schedules, and communication issues. Think hard about trading the stability of a permanent team for the perceived convenience of a flexible workforce.
Hiring full time, dedicated, professional remote workers via an agency lets you avoid the headache of dealing with unreliable freelancers by giving you the ability to build your own high-performance, low-cost outsourced team. Outsourcing to the Philippines with Remote Staff means that you have full command and control of your operation at all times.
By partnering with Remote Staff, you don’t have to do it alone. We will assist you in sourcing the best virtual assistants from the Philippines, and give you end-to-end business support so you can manage your Filipino virtual assistants to the best advantage of your business.
We’d love to speak with you about how Remote Staff can support your business. Arrange a confidential call or meeting today to discuss how outsourcing can work for you.