This is a checklist of what other people’s resources can be used as a leverage when the business owner or the entrepreneur doesn’t have enough of them. (And you never have enough, so it’s always worth it)
Lack of resources in most cases is a lame excuse because you can always use someone else’s.
So here s the other people’s resources checklist:
1. Other people’s money
it’s the most talked about. Lack of money is the most common excuse of out there, but there are lots of ways to get money. Raising money is essential skill because it makes everything else easier.
2. Other people’s time
Delegation is also critical. There are way to many things and tasks in every business. Even if you have the skill for them you need to outsource them so you can focus on the main work.
3. Other people’s skills
There are lots of things that you can’t do, or you can, but someone else can do them much better than you. You delegate that. You get their time and their skills.
4. Other people’s systems
You don’t have to reinvent the wheel when someone else already has it and it’s working really well. These are business methods, working models, processes, strategies and tactics.
5. Other people’s contacts
You may not know the key people that you need, but someone else knows them. The right business associates can do wonders.
6. Other people’s material base
If you need specific real estate, machinery or some production capacity, chances are there is someone who already has them.
7. Other people’s communication & distribution channels
Getting the word out can be a problem sometimes, but with the right deal you can use the communication channels that has already been built by someone else.
8. Other people’s clients
Continuing the communication channels thing, in many cases you can get direct access to someone clients list. That’s valuable.
9. Other people’s names and track records
When you are new to the game nobody knows you but if you associate your business with the right partners you get to leverage their trusted names, brands, track records.
As you see, practically everything a business needs can be obtained from someone else. And it’s highly recommended in many cases.
Now, in order to be able to leverage other people’s resources in your advantage, you have to offer some value in exchange.