2nd Hand Wisdom - for New Start-Ups

One of the things that many people make when starting a brand new business is to buy everything brand spanking new.

I mean, of course, if you have a rich uncle that just gave you a million bucks with no conditions attached for you new venture, then go ahead and splurge a little.

However, for the rest of us who don't have rich relatives or people who give us money baths for no reason, getting the latest brand new gizmo's not the best thing to do.

Let's face it.

How many times have we spent a lot of time researching what are the best products to get (ie. a fax machine) and then spending tons of money on them only to realise later that...they are as good as another option at less than half the price?

This is especially true for new entrepreneurs (me included). There is always this sense like it is an absolute MUST to get the latest gadgets to ensure a that our new ventures are a success.

Sure, you know having a photocopier that has a built in microwave's cool, but if it costs $1000 more than the standard $99 fax...is it really worth it?

I know of a relative who got so excited that the first thing he went to do was to buy a brand new van. With Cash. He had to figure out where all the money went to when he needed additional equipment.

Get ahold of that excitement and channel those energies to doing other things like long-term planning while you spend a little more time shopping around for what you really need. Check out the 2nd hand classified ads and stores, you'd be surprised at what you'll find.

In fact, one of the things that never ceases to amaze me is the number of people who are selling things that they just bought (like 3 days ago?) and are selling it at bargain prices. Do them a service. Help get rid of their new, unwanted equipment. ^^

If you really have to get it brand new, and there aren't any suckers who are selling them @ 2nd hand avenues, then shop around. Don't commit too quickly. Bargain even if it says 'fixed price'. Trust me. I've been in sales pretty much my entire (short) life and it's very easy to make a killing on someone who doesn't shop around. You'd also be amazed by the price difference between different venders who are selling the same exact thing.

To Sum it up:

1. Prioritise - what needs spending now? Must it be new?
2. Shop around - don't be a sucker
3. Alternative avenues - get them second hand if possible.

Just to make a point: the one thing that probably justifies having a larger budget for are things that help with first impressions. Things like namecards, folders, front desk equipment etc etc...but that's for another topic, at for another time ^^ (bugger!)