There are many things that we require and money is one of the most important things. It is required to start and grow our business. Many thousands of small businesses are established each year and not all of them are able to get proper funding through typical means, such as bank loans. However, many companies are able to get their businesses up and running without any kind of external financial helps. Being able to run a business without significant financial assistance requires defining characteristics of entrepreneurs. We need to have the ability to find ways to make things happen. Businesses could be limited by the amount of resources available.
If we are not so lucky in obtaining business loan, we should look for ways to achieve our goals by making things happen. Many small businesses have very limited skill sets and money to kick of an expansion campaign. However, it is possible to drive marketing campaigns and other tasks using free resources, such as word of mouth and social media. Resources sharing can also help businesses to move forward. As an example, a restaurant and bakery could share equipments. Ovens and stoves can be used by the bakery after hours, so costs can be shared by both establishments.
We should be aware that all businesses are essentially unique and we should have our own unique ways of dealing with specific obstacles. We should know that some tasks don’t really require money to complete. Most of the time we use money or capital to get specific things done and we may also need additional workers or employees. However, if money is limited, then we may need to do many things ourselves. It is a good thing if we are the primary expert in our small business. It means that we have much less reliance to other workers. When Steve Jobs established Apple and Gates started Microsoft, they didn’t have abundant financial resources like big corporations at the time.
Today, these companies are among the largest in the world. At the moment, if small businesses want to achieve success, they need to do free resources that they can choose. As an example, Facebook, Amazon, YouTube and eBay could provide with many things for free or very low cost. We should spend time to make a list of free resources that we can use. With social media, small businesses are able to find free ways to market their businesses. If the competition is already out on these social networking methods, then so should we be. We may also need more workers and to reduce costs, we could hire college students and interns.
By hiring proper workers, we would be able to get things done at a fraction of the cost of employing typical full time employees. It means that costs can be minimized, Sales, inventory management and accounting requires highly sophisticated tools, sic as software program. However, there are many free and open source software for both standard PC and mobile devices to complete our business management tasks.