The Remote Business

The Remote Business
Manufacturing Abroad, International Payments,
and Remote Employees

“The Internet is becoming the town square
for the global village of tomorrow.”
Bill Gates
Going Global
angel.co/coinpip | founders@coinpip.com

Entering New Markets
The barriers to entering new markets have been, in large part,
knocked down by Internet.
Today, a craftsman in Nepal can sell locally made goods
to someone on the other side of the globe.

Another trend that has developed over
the past few years is that
manufacturing has increasingly moved
abroad, and it’s something for
businesses to take advantage of,
especially if you’re producing tangible
products.
Manufacturing

“China succeeded in transferring nearly
150 million people from agriculture
to manufacturing”
Pallam Raju
Indian Politician
Manufacturing

Paying these manufacturers
can be troublesome. Bank transfers
require lots of information and
untrusted suppliers require escrow
services.
Paying Manufacturers

Hiring Remote Staff
“Remote work has opened the door to a new era of
freedom and luxury. A brave new world beyond the
industrial-age belief in The Office.”
Jason Fried
Remote: Office Not Required

66%
of global workforce
telecommutes
20%
believe to go fully
virtual in 1-5 years
14%
don’t think of
remote work

90% of workers think that
collaboration tools are the most
important or even mission critical for
building remote teams.

People who work remotely are
more satisfied with their jobs.

Whether you’re a tangible or digital product, you can widen
the market for your job placements and have the potential to
find better candidates that might also be, well, cheaper.
In addition, if you have business ventures in foreign markets
it makes sense to hire local staff who will be more familiar
with the market.

1. Cuts office costs
2. Good labor for good pay
3. More work time
4. Ability to travel and work anywhere
5. Unique perspective
6. Global business
How does it benefit my team?

One study found that one company
saved $1,900 per employee over nine
months from reduced office space and
furniture.
Cutting Office Costs

Good Pay
Hiring people in the US and especially in
the Valley is expensive, since you have to
accommodate your employees for their
living expenses. However, if you search for
employees abroad, chances are their living
expenses will only be a percentage of what
it costs in the US.

That same study found that the call
center employees performed “13.5%
more calls than the staff in the office did”
when they worked at home.
Improved Results

Since employees don’t have
to spend time traveling to work
they get more time to spend
with their kids.
More Personal Time

Where do you start?

1. Use the right tools
File sharing
with Google Drive,
Dropbox.
Virtual hangouts with
Google Hangouts, Uber
Conference & Slack
Manage design
projects with
InVision App
Note sharing with
Evernote, Trello,
& Basecamp

2. Instill Daily Routines
● Establish monthly and quarterly goals.
Use tools like Betterworks to help you get there.
● Establish roles within your team.
● Incorporate respect and discipline
● Use agile and scrum methodologies

By establishing goals your employees have a benchmark for the
level of performance that is expected of them.
Establishing roles lets employees know who does what and
makes them more accountable for their actions.
Establishing Goals & Roles

Respect & Discipline
Respect is important to keep order and everyone happy.
Employees shouldn’t express their anger in public forums, so try
to mediate any discussion about other employees privately.
Not everyone is fit to be a remote worker, some may get too
comfortable with their level of autonomy and slack off. In these
cases you can’t be afraid to take disciplinary action.

3. Pay Remote Employees the Right Way
Paying remote employees, especially ones that live abroad, is
probably the biggest concern for employers since overseas
payments are troublesome and time-consuming.
What are your options?
PayPal, MoneyGram, Banks and CoinPip
Whereas a lot of these options charge heavy fees and give you
unfavorable exchanges rates, CoinPip charges 2% and gives
you the real exchange rate.

They are a real team after all! Remote
doesn’t mean they aren’t there.
Incorporate autonomy, positive feedback,
constructive criticism, and give GOOD
feedback.
Keeping them happy

Hiring Temporary Staff
Freelancers can be temporary or long term. Sometimes you only
need people when your employees have a heavy workload, like
product launch times.
Before hiring, give applicants a test drive by assigning a sample
project. This gives you a feel of how they work and if they will be
a good fit for your team.

They happen. Every culture is different or works in a different
time zone. Learn to adapt or get them on the same page.
Some cultures are more hierarchical than others.
Beware of Cultural Boundaries

Most Importantly,
BE RESPONSIVE!

Establish ‘Office Hours’ where your
employees can reach out to you.
This lets them know what time you and
the rest of your team is available since
you may be working in different time
zones.
Establish Office Hours

Do you have a remote team?
How do you manage and pay your remote team currently?
We’d love to hear from you! Reach out to us at:
joinus@coinpip.com

Want to start paying your remote employees?
/CoinPip/CoinPip/CoinPip@CoinPip

The Remote Business

Recommended

Recommended

More Related Content

What's hot

What's hot (20)

Similar to The Remote Business

Similar to The Remote Business (20)

Recently uploaded

Recently uploaded (20)

The Remote Business