Advertisements

Out Of The Box Thinking To Make Capital


wealthymatters“I heard a story how a company made its capital back in 1970s in Kerala.  There was a manufacture who wanted to install a huge machinery in a pit prepared in their factory. The machinery was very heavy and delivered by its manufacturer at the site of installation. Now placing the machinery in the right position near 30 feet below the ground level was a big problem. It should be handled carefully otherwise it will damage the base as well as the machinery.

Remember huge cranes were not available in those days as they are today. Many quoted for the job and all of them thought of bringing crane from other locations and get the job done and they all quoted above Rs.10 lakh to 15lakh.Somebody also enquired if there is a problem if the machinery get wet with water. The answer was ‘no’.   Read more of this post

Advertisements

How To Bootstrap Your Business ?


wealthymattersHere’s a five-step process you can follow to give you the best chance of success while bootstrapping your business:

Step 1: Prove Your Concept

With limited funds, it’s more crucial than ever to prove your business concept before investing your valuable resources. If you’re reselling an existing product, this step is a bit easier given the existing demand. But make sure you’re very clear on how you’ll be adding value — and don’t say via low pricing! Will you be offering a unique branded experience or adding informational value?

If you’re creating a new product, make sure you’re able to validate that people want — and are willing to pay for — your product before you invest heavily in mass manufacturing. Get your prototypes in front of as many people as possible, take pre-orders or even launch a Kickstarter campaign. Nothing is worse than manufacturing 5,000 new items that nobody wants.

Step 2: Do/Learn as Much as Possible Read more of this post

Why Bootstrap Your Business ?


wealthymattersThese days, it’s very fashionable to have a business “funded” by an investor or venture capital firm.But this is almost always a bad idea. Bootstrapping your business is usually the better alternative.

Bootstrapping is starting and growing a business using your existing resources.

Bootstrapping doesn’t mean you’re excluded from investing any of your own cash. It also doesn’t mean that you must remain a one-person company for eternity, or that you have to settle for meager revenues and profits.It simply means growing your business using your existing resources instead of going out and raising a bunch of money from other people. It means growing organically.

If your #1 goal is to build something enormous and world-changing as quickly as possible, bootstrapping may not be a good choice. But if your primary goal is to build a profitable business that you will ultimately control, bootstrapping is almost always your best option. Here’s why:

Cash Alone Rarely Solves Problems Read more of this post

Office Space Solutions


wealthymatters.com

Real estate is expensive in India.Period.And rates can verge on the ridiculous in places like Mumbai.To add to the woes,renting/leasing is not so easy,if you are not an established business.

That said,I am of the school of bootstrappers who choose not to put down any money till  cash starts flowing into the business. So its work out of home/the garage/hotel etc. till a business justifies rents or purchase of property. After all with a mobile phone,laptop and vehicle,its possible to get a lot done at no extra expense.

But there comes a time, when a semblance of an office,means that potential vendors or customers take you a little more seriously.At such times,here are 2 options you could try out: Read more of this post

The Stats On Start-Ups


wealthymatters.com

%d bloggers like this: