Thursday, July 22, 2010

Win-Win-Win for young companies

Young companies often encounter multiple challenges ranging from trying to gain market foothold, to raising funds, to assembling a reliable team.  Having followed the progress of a number of young companies, I am convinced that execution is key to any companies.  Execution is dependent on the team members, yet young companies have barely sufficient team members and most are multi-tasking already.
As a priority, young companies often prefer to charge after technology development, market adoption, and will leave key aspects such as HR and Finance functions to the incidental 'admin' officer - thinking he/ she can cover all aspects.  Now, if this is deemed a lower priority, the admin officer tasked is unlikely to be empowered to pay for professional advice and guidance.  This can spell danger as companies that are unable to provide proper accounts usually will encounter a delay in fund raising - which in turn, can jeopardize their market deployment efforts.

One option is to work with MumsAtWorkSG a venture started by a business contact, who has since left the corporate work to start her part time venture after having her baby. Like her, the pool of working mums within Mums@WorkSG are likely professionals who have chosen to hang up their suits in exchange for time with the kids.  By tapping them and working out a flexible schedule, not only will the young companies be able to tap their expertise, these mums can also contribute to the companies and stay in touch with society; yet spend time with their children.

This is indeed a win-win-win situation - the company, working mums and kids! 
Salute to working mums!

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