Do you have a great business idea but don’t know how to start? Here we share some amazing tips with you!
The resources around you are enough for a great start to make your business idea into a venture.
In becoming an entrepreneur you officially join the game of hustle. You sign up for something much bigger than yourself that will enable you to deliver a product a service to the market
However, during production of these services and products you face major challenges, such as having ’’ Limited resources’’. All entrepreneurs go through this phase of not having enough resources. And this can be from the expertise, equipment, platforms, facilities or money. But a lack does not mean that you can’t attain these resources.
‘’There is always a way’’
‘’Entrepreneurs are masterminds of dealing with what they have efficiently and effectively utilization of their resources. ‘’
To deal with the problem of limited resources, here are some tips to help a business, maximize what they have, whether it be inside or outside. Most things an entrepreneur needs cost money. so the tips listed below deal with evasion of cost and reduction.
There are organizations that create spaces for Entrepreneurs, or facilities that they can use free of charge. Most entrepreneurs might not be able to afford an office building just yet, because of the huge rent costs associated. So for beginners, why not find free spaces, with free Wifi with minimal to no entry costs such as public libraries, community halls, talk to your local university they are sure to have some unused space or office, NGO or government organizations with specialized programs that assist new businesses.
People are your greatest resource; they are the foundation of anything entrepreneurial. If you come across a need or a lack of knowledge or skill, there is always someone that has the expertise and is willing to share it with you on a pro bono basis (free). Go see a lecturer that’s willing to help, students, and their networks, Clubs and societies from any institution. And all of this can come absolutely free. Even for marketing. Some students like to keep busy and would consider a great opportunity to share your products or service on any platform. You don’t always need to cash out.
- Old Equipment
Sometimes, you may need certain equipment.so go speak to small businesses or places that you can find what you need. Businesses always have loads of unwanted and used equipment. So go make an arrangement, whether you rent it from them, use it for a temporary period or simply purchasing it from them. In the end, what matters is how you use it.
This is probably what gets entrepreneurs the most. Fear not there are multiple platforms to gain money, try Sourcing crowd funding. Ask your friends and family for small loans that will be repayable after a while. You can also find organizations that cater to helping entrepreneurs with all costs associated with delivering the product or service.
An entrepreneurs job is not easy , but reducing costs and using everything and everyone around you can help in servicing your business and keeping out of the red and worst case scenario, closing shop.
Being an entrepreneur is not about having everything all the time. Efficiency and effectiveness is king, so scan your internal and external environment and figure out what you can use.
This content was sponsored by Rio Richard, a business & entrepreneurship blogger. For more, visit his website click here!
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