The Top 5 Things you DO NOT Need to Start a Business (Part 2)
This has been a very hot topic and has surprised some of you, which surprises me that you are surprised! Confused yet? Me too!
I started this series to help encourage people who have a business idea they want to get off the ground, but they are overwhelmed at the list of "must-haves" in order to start a business.
Honestly, you don't need much.
Think of it like the newly expectant first time mom, who gets suckered into believing she has to have every single gadget and trendy thing for her newborn. It isn't long after the baby arrives, many of those things are collecting dust in the attic or headed to the thrift store.
The more experienced mom of several children, who has already been there and done that, (and had to have a giant yard sale later), knows better now and keeps it simple. There is wisdom in growing slow and keeping things simple.
The silent killer of many businesses can be overspending on unnecessary start up costs! You are behind before you even start! If you missed part 1, go back and read about the top thing you do NOT need to start your biz here.
For everyone else who already read part 1, you are ready for part 2!
You do NOT NEED a formal office!
A designated space to work in is always helpful, of course. However, it is absolutely not necessary for the majority of businesses to rent an expensive office space. Not only will you have to furnish it and pay utilities, but you will likely have a commute as well, and all on top of rent. Again, when you are starting a business, you want to keep your costs as low as humanly possible so you actually make a profit!
If you are fortunate enough to have a home office, wonderful! If not, don't stress it. Use your kitchen table, your couch, your local coffee shop, or even your garage!
For many years, we lived in smaller homes (especially considering we are a family of 6) so my office was wherever I landed and I kept it all portable.
A laptop, accordion file, and a portable file box made it easy to pick up and work wherever I needed to. Not to mention, most paperwork is at this point obsolete and can be easily done electronically on a phone!
Let's say your business is one that could benefit from the use of a formal office in a professional setting outside of your home. Then what? My best advice is this; save for it over time out of your profit and do it when you can afford it.
I know it isn't fun advice, but it may keep your business in the black and help keep you from taking on more than you handle in these beginning steps of business ownership.
I hope you find these tips valuable and useful! Be on the lookout for part 3 next week!