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cREATE YOUR OWN SUccESSFUl BUSINESS IN 5 SImPlE STEPS - OUT OF NOWhERE

that will help you to set the right priorities, find solutions in a quick and
easy way and to focus on the things that are really important for your
business and your success.

steP 3 – FInD the neCessARY ResoURCes

FoR BUIlDIng UP YoUR BUsIness

One of the main reasons why people do not start up their businesses is
an assumed lack of money for providing the necessary resources. Even
with the best business plan, it is sometimes not possible to find for ex-
ample a financing bank or private lender, because securities and guar-
antees are not available or other conditions or requirements cannot be
fulfilled. But there is no need to resign and give up at that point. Take
this as a challenge, start immediately with finding a sufficient solution,
and always keep in mind that for each problem, there exists at least one
solution that works.

If you have your own successful business, you always are a problem
solver at first, before all other things. And finding a solution in connec-
tion with financing your business is a really great experience and train-
ing for your whole business life – especially if you have to start with
nothing. I hope you’ve done your job in connection with the preparation
of your comprehensive business plan with accuracy, because now you’ll
need it. It should include a list with all resources you need to start, and
give you all relevant details in connection with the money you need
for financing your intended business. Take this list and analyze each
individual item: What alternatives do you have for reducing your costs?
Be creative in connection with each point and also take unconventional
measures into consideration:

• Do you really need everything right from the start?


• Do you really have to buy everything or is it possible to rent
  them for some time, or maybe just for those projects for which
  you really need them?


• Which points can be simplified in a way that you can reduce
  your costs?


• Is it possible to do things with used equipment, because you can
  very often buy it for a fraction of what a new item would cost?


• Can you out-source some things for which you would need cost-
  intensive room and equipment?