Join Rudolph Rosenberg for an in-depth discussion in this video Reviewing office-space options, part of Entrepreneurship: Bootstrapping Your Business.
- Now, let's look at office space,…and the first thing you need to define is…what type of space you actually need.…Many of us want to get office space before we…even determine why we actually need it.…The primary function of an office is to have a place…to work with other employees of the company.…To spend time face to face with junior members…of our organization that require supervision,…or to work in groups and work more efficiently…than by sitting in a public space or virtually.…
Those are very good reasons,…another set of reasons often…quoted for taking office space,…is to have a place to welcome…customers and build credibility,…or to have another address than your home address…on your website or your business cards.…That second set of reasons is more about…the idea we have of a business,…rather than the true business needs.…For example, we want to have an…office space to welcome customers,…but in reality it's very rare that…customers come to our office.…
For whatever reason, if you have to meet come to them…
He shows why beginning with the end is important: framing the venture by anticipating your exit strategy. He explores key resource-planning factors as well as the competencies and considerations required to fund and grow a bootstrapped business. The course then details how to manage the startup and evaluate it realistically to determine whether to stay the course or pull the plug. Finally, viewers will learn how to validate the business-plan assumptions effectively to determine viability and growth trajectory.
- Summarize the five pillars of bootstrapping.
- Determine which type of office space would be most beneficial for a given business.
- Explain the concept of linearizing expenditures.
- Identify the reason why making sales quickly is important to bootstrapping.
- Recall strategies for attracting new customers.
- Recognize the advantages of working in short cycles.
- Explain the importance of having a work-life balance.