#entrepreneurlife

5 things to do when bootstrapping your Startup

2020-02-01T15:46:08+00:00 April 30th, 2019|Categories: Entrepreneur, startupgold, TheStartUpGold|Tags: , , , , , , , , |

Pitch decks, Venture Capitalists, Angel Investors are almost synonymous with Startups today. Now these are great ways to get funds but when you are starting your business, you probably do not need half a million pounds right away to grow. You may find that through self funding you can raise a good portion of the money you need to setup and get your first clients through the door.

Bootstrapping a startup business is the concept of using existing resources, what is already have in hand, to achieve a goal.

Is it easy? no it is not, particularly if you don’t have a regular source of income.

A lot of new business owners are already rockstars at doing the most with minimal resources (hands up mums in the house) The same applies when starting up your business. Don’t go pitching to investors just yet or procrastinate on starting your business because you have written up a startup valuation that seems out of reach.

Try these bootstrapping tips first.

Cut back on splurging

I guess this goes without saying. If you need the money then cut back on spend. That Fendi Baguette, or pair of Balmain boots will have to wait.

Build a business portfolio you can take to the bank first then you can splurge on luxuries later.

As you start to build the business keep an eye on expenses.

Surround yourself with inspiring and driven people

Ever felt like you needed some shopping therapy and then your girlfriend comes round to remind you – You Only Live Once? So you hit the stores and head into Soho for dinner, willing your savings goal to come back. Sadly a vision of Shrimp and Lobster with spicy lemon dressing for dinner at Nobu’s wins.

Ditch your goal-less friends while you bootstrap to grow your business. Find yourself some new friends that will keep you motivated.

Always go for the Best and Final Offer

Corporate giants do this stuff all the time.

When making a purchase to start your business, ask the seller for their best and final offer before placing an order. Do the same with other sellers then go for the most competitive price.

In other words, haggle like your life depends on it (professionally of course) If procurement teams at large corporates do this to save business costs, how much more your humble self? There is no shame in negotiating. Make your money work for you as you build your business.

One thing to be mindful of though is not to compromise quality for cost. Verify the quality of what the seller is offering before committing to the sale.

Use your vision board

Have a vision of what you want to achieve. If you don’t have a board that’s pinned up on your wall, keep a mental visual of what success feels like. Use this as your motivation when you feel like giving up.

Keep your big vision in mind. Fix your eyes on the prize – Always.

Get some assistance

Perhaps bank of mum and dad might be generous, or you have friends who believe in your idea and can support. Crowdfunding might be another way to go. Think of some alternative sources of raising money and use as many channels as you have available to you within your inner circle to secure your business funds.

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How to maintain a fit lifestyle while working

2020-01-24T14:05:33+00:00 January 10th, 2019|Categories: Entrepreneur, TheStartUpGold|Tags: , , , , , , , |

Active people are energized to  think smart and work smart

An active lifestyle increases your chances of a healthy life. When you make staying active part of your daily life, you’re energised, more alert, you do better at work and you become more confident.

Many of us spend our days in the workplace sat in on meeting after meeting, hour after hour . Long periods of sitting is said to lead to an increased risk of heart disease, obesity, diabetes and cancer. The World Health Organization even lists inactivity as the fourth biggest risk factor for global adult mortality,

Here are some ways to incorporate some activity into your work life depending on if you have an office for your business or work from home.

  • Walk or Cycle to work
  • Drive at least part of the way to work or try parking your car further away from the entrance
  • Volunteer for the coffee run
  • Start an office fitness challenge
  • Have standing meetings
  • Walk across the hall to talk to a coworker instead of sending an email
  • Take the stairs instead of the elevator
  • Take a longer, roundabout way to your desk
  • If schedule permits, try going for a run or take a long walk during lunchtime.

Healthy habits also go a long way in keeping you fit

Sit right

You probably spend more time at your desk than any place other than your bed. So when you’re sitting in front of it, it’s important to do it properly. Adjust your chair height so that your feet are flat on the floor and your knees and arms are at a 90-degree angle. Adjust your computer screen so that your eyes are even with the top edge. Angle the screen so it’s tilted slightly upward toward your eyes.

Wear comfortable clothes and shoes

Taking the stairs looks a lot less appealing when you’re in towering high heels or a stiff suit. If you must, have some comfy shoes around and perhaps a lighter wear under the stiff suit to help you move around easier.

Stretch

When you sit for an extended period of time, your body and mind falls asleep. Occasionally, you get up for a walk or a stretch. This will wake you up and get the blood flowing through your body (and your brain).

Messy Desk

An unkempt work area can cause stress and lead to inefficiency. Furthermore, your desk, phone, and computer are notorious for harboring germs. Once each week, clean your workspace with antibacterial wipes. Organize your desk in a way that minimizes strain on your body, and keep things in their place. If you need help, look around the office at coworkers’ desks, and ask them for tips.

Relax, Look on the bright side and Make your health a priority

When you are chasing a day full of meetings your stress levels are probably sky-high and stress has a terrible impact on your health and wellbeing. Therefore one of the best things you can do to stay healthy and fit is to learn how to relax.

Healthy people are more optimistic than unhealthy people. They don’t waste time and energy complaining. If they think they need to make a change in their life, they do it. They know that a positive mental attitude goes a long way toward promoting other healthy behaviors in their lives

Heathy people make a conscious effort to be healthy in especially busy or stressful times, it’s easy to let life get ahead of you.

Achieving healthy habits while at work is a mind game. Overcome your personal discouragements, believe in yourself, and take it one step at a time into a heathier, energized and more productive new you.

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