Founded in January 2014, local startup Grow My Team is a new technology platform that helps business owners recruit and manage staff while avoiding the financial risks that come with hiring full-time in-house staff. Essentially, it’s an innovative spin on the traditional temp or part-time staffing solutions business.
The idea to create Grow My Team was inspired by the founders’ previous experiences with using remote staff in business entities they were involved in. They saw the value in having the flexibility to scale up and down quickly and inexpensively using outsourced staff.
They figured other similar businesses and startups would also find value in using the same staffing structures and decided to set up a business satisfying that need.
Grow My Team currently works out of the Revolver Creative Coworking Space in Melbourne, with plans to expand operations into Sydney soon by hiring of a full-time salesperson. The rest of the team is located overseas in South Africa and the Philippines.
“We practice what we promote,” says Karyn Lurie, General Manager of Grow My Team. “The company has been going through a rapid-growth phase as of late and our aim is to have remote workers available all over the globe.”
Part of the success that Grow my Team has experienced can be attributed to its relationship with We Love Numbers, an Australian-founded entrepreneur organisation and financial service. Both companies are mutual clients of one another’s.
“When We Love Numbers approached us about the service they were offering, we basically jumped at the opportunity,” says Lurie. “My background is a mixed bag covering law, politics and design, but I would say that my strong point is really being creative and I have more of a marketing background.”
“When I heard about We Love Numbers, I thought ‘Oh, if I can have their help and support to make sure that all of my initiatives and ideas are supported with numbers then this is a brilliant opportunity for me’.”
One of the primary functions We Love Numbers has taken over for Grow My Team is bookkeeping and staff payroll. This has made a massive difference operationally for Grow My Team because most of its staff are overseas contractors, and facilitating payroll can be complicated because of all the different currencies.
We Love Numbers also takes care of all the bank and Xero reconciliations and provides Grow my Team with monthly reports. On top of these services, Lurie has a profit coach whom she has a meeting with every month. In those meetings, she is able to discuss ideas and proposals, and financially model and forecast these ideas and proposals with the help of a professional – it’s kind of like having a Chief Financial Officer without the hefty price tag.
“When I joined Grow My Team, the business was operating on a slightly different business model than it currently operates on today,” says Lurie. “As I became more comfortable with the business and began to develop it, I was able to discuss changing the model and pricing structures with the We Love Numbers profit coach and make significant changes to the company.”
Lurie is adamant these significant financial changes could not have been made without her one-on-one profit coaching sessions.
“Currently Grow My Team is not in the position to hire our own CFO so this was an absolutely brilliant solution for me,” says Lurie. “The service and the product has filled a need that I didn’t know how to fill.”
This post is sponsored by We Love Numbers. To find out more information what the We Love Numbers community is about go to welovenumbers.community/apply