No Money, No Credit, No Staff — But There Is Help

SeattlePI:

Q: I have a resource directory Web site that is not generating any income yet. The conundrum exists that I need to hire people to develop and expand the Web site services, but I have no money to pay them. I have the plans on paper that I would like to pursue, but I have no idea how to go about it.

A: No money, no credit, no equipment, no experience, no staff and no connections tend to top the list of what entrepreneurs say they are missing at the start of their enterprises. This can be unnerving. For all the optimism entrepreneurs have about their long-term visionary prospects, there is a tendency for startup entrepreneurs to become too disheartened by their perceived startup inadequacies.

• Interim assistance. The metropolitan Boston area is home to a large number of community colleges, colleges and prestigious graduate schools. Many of these institutions help place interns in entrepreneurship, marketing, accounting and Web site development in surrounding businesses and nonprofit organizations.
• Tap retired or laid-off professionals. You can find highly experienced managers to serve as founding board members, advisory board members or first staff members.
• Trading equity for services. “Sweat equity” is what consultants, founders and first staff members earn for providing services to a young company without cash compensation.

Read more.

Photo by MSDesigns.

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