To start a business, money is not the only resource you can draw upon.
There are a lot of other things that are much more valuable to you as a business person than money.
Leke Alder identified 6 tradable commodities in business: goodwill/favour, network, knowhow, equity, assets and cash.
You read that right, there are 5 other items on that list other than money.
So, a smart business builder (that’s you, by the way) should learn to draw upon the other tradable commodities and learn how to get them to work for you.
I am able to do a lot with so little money because I have certainly learned how to leverage the first 3 items on Leke Alder’s list: goodwill/favour, network and knowhow.
The truth is that it is sheer arrogance to think that money can open every door. There are some challenges that you will face and no matter how much money you throw at it, it will not go away….
When I started out in business, I used to be a very shy person but I have since crawled out of my shell to build a valuable network.
I do quite a decent amount of networking, meeting new people and engaging them to see common goals we might share and trying to achieve such goals together. Building a valuable network takes a great chunk of time and conscious effort, but it is always worth it.
Therefore, let us stop thinking money is the only thing we need to forge ahead. It is a short-sighted view of the world…
Look further.
By the way, I actually pulled this out of one of the modules of the #TMP StartUP School starting next month.. online.
Let us build ideas this September!
If you are yet to signify, just holla me.
