Pinned

What Matters More Than Money When You’re Starting

A friend is starting a new company. He’s got a great vision and a great idea, but it’s been hard to get funding. He didn’t let that stop him, though. He got creative and found ways to get the computers and other things he needed.

He didn’t have any money, but he had hustle. He found a surplus organization that has stockpiles of computers and other technology assets. He worked with the staff to figure out what he needed to do for his new company to qualify to receive surplus assets. And they eventually approved him to get computers, monitors, and other expensive assets. Now, with zero dollars raised, he has the resources he needs to get his company off the ground.

My friend’s journey highlighted to me the difference between resources and resourcefulness:

  • Resources – a stock or supply of money, materials, staff, and other assets that can be drawn on by a person or organization to function effectively
  • Resourcefulness – the ability to find quick and clever ways to overcome difficulties

Many early-stage founders focus on getting money so they can buy the resources they need to get their company off the ground. But in reality, what they need is a resourceful mindset. Entrepreneurs who are resourceful find clever ways to get the resources they need to get their company off the ground, even when they don’t have any money. They don’t take no for an answer. They think outside the box. Entrepreneurs who believe they must have money to buy the resources they need are much less likely to have outsize success or overcome the inevitable cash crunch that all entrepreneurs face at some point.

My big takeaway is that lack of money makes things harder, but it shouldn’t stop you if you’re resourceful.

Connected Entrepreneurs
No items found.
Connected Books
No items found.