As frustration or amazing as you may find it, one of the things that makes a startup so darn exciting is the following fact: there is no such thing as the right way to start a business. The only thing that is certain is it needs doing — it needs you to take your idea from concept to reality. How you get there is completely up to you.
Sure, it is going to be about as easy as sticking your hand into a beehive and hoping to retrieve some honey without getting a single sting, but that doesn’t mean it is impossible. The first step in achieving this is to let go of all those preconceived ideas of what a startup is and what a startup needs.
Now, we’re not saying you need to become a minimalist, but you may find that the more weight you get rid of the high you’ll be able to soar. So, without further ado, here are some business related things you really don’t need to get your business started.
A brick and mortar location
In this day and age, you really don’t need to spend thousands of dollars on a swanky office that boasts a plethora of glass offices, steel desks, and a recreational room. You don’t need an office. That’s not necessarily because technology has changed things, or because online businesses are so common, it could just be that your business doesn’t need it.
Starting something like a coffee business could just mean you ask what are the best coffee carts for sale instead of where is the best place to open a shop. It could be that you want to start a lawn care business, in which case just have your employees work remotely. Save yourself that overhead and spend it on marketing instead.
This may sound a little offbeat, but you really don’t need employees (especially in the first year). That isn’t just because you’ve just bought yourself a coffee cart that you can manage on your own, it is because you can just outsource your needs or hire contractors instead.
Not only is that going to save you a bucket load of cash, it is also going to remove a bucket load of complexity from your startup, meaning you have less to worry about and more time to focus on, you know, thriving. Sure, you are going to have to get the legalities sorted, but contractors and freelancers are a super way to go from zero to hero.
Taking on debt
In a world of “fake news” and mediocre blogs, every aspiring entrepreneur think they need all the funding they can possibly get their hands on — this isn’t true. In fact, we would advise you against this for a plethora of reasons. Trying to secure extra funding takes time, time that you could spend improving your business.
Of course, that isn’t all. You see, by not having tons of funding then you don’t have tons of debt, which means your cash flow is more manageable, you don’t have a board of investors to answer to, you can grow at your own rate, you aren’t dictated by your repayment plan and you can figure out what really matters in your business.