Lolo Siderman is the Founder & CEO of Gypsywing Media (www.gypsywing.com). In this video she explains creative ways to get assistance for your business while operating on a shoestring budget.
- Trade service or product for hours
- Inters - paid or unpaid
- Offer a percentage
- Structure for future increases
Many of my clients are entrepreneurs or startups and one of the trickiest things and one of the biggest costs can be your employees. So finding creative ways to get assistants in your business when you’re operating on that shoestring budget is something that a lot of my clients could use and one of those and I have a client who has done this fabulously is trading a service or product for hours. He happens to be a life and business coach. And so she has five employees who work for her and trade for coaching hours.
So if you have something some type of a service or a product that could actually be of value to part time employees making a trade there can really help you get through those beginning months or that first year when you just don’t have the budget to pay.
Another option is interns and there are paid or unpaid. I’m not crazy about the unpaid intern because they can for one thing they’re not getting a lot of benefit from it and you can end up just spending more time teaching them which is technically what you’re supposed to be doing than actually getting any benefit. So the paid intern you can get some great assistance but you also have to consider that they’ll probably going to leave you in, you know, X amount of time, 3 months or whatever it may be. So that’s an option but not, may be not the best.
Another is offering a percentage. You can bring in someone who is a able to work for free perhaps you know a marketing or a design person that you can offer small percentage to and they can develop all of the branding and all of the marketing and that can really be worthwhile because the marketing and the branding and the business is very important but if you’re hiring outside sources that can get pretty expensive but you do have to be careful about how big of a percentage you’re offering and get real about the amount of growth you’re expecting and what kind of business this is going to be and you know what’s reasonable.
And the last one would be structuring for future increases. So you bring in someone. You know that they’re great and you’re paying them at a lower rate but you believe in your company and they believe in your company and you set up a plan for you know you’re here in the beginning and I appreciate what you’re doing and you’re making less than I know you deserve and you show that you know in 3 months this is where we’re going to be and then 3 months after that this is where you’re going to be and so they can see that they have the opportunity for growth and they can see that you value them and it really creates a much better situation rather than just saying look I can only pay you X amount of dollars and that’s what you’re going to get.
So those are some creative ways to get assistance in your business when you’re operating on a budget.