Press "Enter" to skip to content

How to Set Up a Team with No Money – How to start a team with no funds


how to start a team with no funds so I
got a great question for one of my
YouTube viewers love you guys hand done
by the diva who wrote in to say great
Vidhan I listen at you quite often
you’ve helped me understand so much I
have a question and comment actually I
have a handmade Julie business and I
need help with branding and marketing I
really don’t know who to turn to for
help with making my items because I’m
the only one who knows what I really
want to be made however I want to start
a team that helped me build my business
and even help them build themselves in
the process I currently do it all and I
don’t have the funds to pay anyone as of
right now hopefully soon but I don’t
want to get burned out either any
suggestions thanks in advance so
handmade by the diva you are in a common
situation a lot of entrepreneurs face
you’re working 80 hundred hours a week
trying to create this thing trying to
get it launched you’re not getting
momentum you’re feeling overwhelmed
overburdened you’re gonna get burned out
going this way you’re gonna get burned
out and successful entrepreneurs are the
ones who can build beyond themselves so
you are asking the right questions how
do I start building this team now you’re
thinking bigger picture because this has
to be beyond just you so I’m gonna give
you three strategies for how you can
build your business up get a team on
without using your big funds okay number
one get a partner the most important
thing that you need to figure out when
you’re building a team is what are you
gonna bring to the company right what
are your biggest strengths where should
you be focusing and then you’re bringing
people on to complement all the areas
that you’re weak at or don’t want to do
I call that CEO time right where are you
spending your CEO time the stuff where
you’re adding so much value to your
business that’s where you need to focus
almost all your efforts and delegate
automate eliminate everything else so if
you’re gonna bring a partner on board
you got to think are you best at making
the jewelry or marketing it and it
sounds like you’re best at making this
stuff right you’re you’re reluctant to
give up control of that but you’re
struggling with the marketing and
branding so an option is to bring on a
part
the business who doesn’t want to make
the jewelry but wants to focus on
marketing Branden I love that stuff and
lives that stuff it eats and breathes
that stuff right somebody who loves
marketing and branding just as much as
you love making jewelry and you bring
that person on as a partner in the
business and how you work it out it’s up
to you if they’re gonna be 50/50
partners or they’re gonna be a smaller
percentage because you’ve already
started this business I would start them
off in increments because you don’t want
just give up a chunk of your equity and
that’s gone forever right make them
prove themselves when they can do this
much for you when you’ve shown that you
guys can work together then they get 10%
of your company and then they get to
this point they get 20% and the next
point they get 30% make them earn in or
they could buy in and give you money for
so it’s two different options doesn’t
cost you money out of the gate it is an
expensive long term solution because
you’ve lost a chunk of your company but
if you bring on the right person who you
can work really well with who has the
same values as you and who can bring a
lot of benefit to your business then
they can more than pay for itself so
number one is get a partner number two
is get an intern and this is where you
find a college or high school student to
come in and work under you you said you
wanted to build a team and so that they
could build themselves up as well
so it sounds like you’re the kind of
person who likes giving back who wants
to see people do better and get better
and that’s a great mentality to go into
as someone who’s gonna be a boss because
you’re not just saying do this do this
do this do this you’re actually trying
to improve them and help them grow so if
you want to get help on making the
designs and making the jewelry well
you’re gonna focus on the the marketing
and the branding then you can have a
high school or college intern come in
and you can teach them right you can
still come with the design but you can
eliminate some of the actual making of
it by teaching somebody else how to do
it and they’re gonna get better and
they’re gonna get stronger and they’re
gonna maybe come up with some ideas that
may surprise you as well the high school
interns typically are free because
they’re doing it just for school credit
and they have to show up because they
want to get the grade for their school
the university interns are mixed some of
them are free some of them are paid
depends on the program but still very
affordable compared
to hiring somebody on a full-time job so
check out your local schools and see if
there might be a potential fit to have
somebody come in and help you make the
jewelry and number three is hire
somebody part-time a lot of people think
oh I don’t have the money to afford send
me to come work in my business but you
don’t have to hire someone full-time it
could be on a part-time basis the first
person I hired was for one hour a day
and that freed up more than one hour
over they of my time because he was
better at what he did then then I could
do it I wasn’t a huge outpouring of
capital right I didn’t have a lot of
money when I was starting at my business
so I couldn’t afford to bring on
somebody full-time even part-time but
like one hour a day I could afford that
and that freed up some of my time and so
it encouraged you to look at can you
bring somebody on even for one hour a
day it may be a friend and maybe a
family member I’d also looked to
websites like odesk.com
I’m a big fan of oDesk and you can find
people from around the world with tons
of skills who can help you maybe not do
the actual jewelry because you need
somebody maybe local but they can help
you with your marketing and your
branding or maybe your admin work or
maybe the the stuff that you hate doing
in your business that that you still
have to get done but can be outsourced
to somebody overseas just get that
mentality where you can go out and hire
somebody for as little as an hour a day
or a couple hours a week just to leave
e8 some of the burden off of your
shoulder so you can focus on the higher
value stuff for your business and not
have to spend a ton of money for that
person to come in and help you
so in summary number one get a partner
number two get an intern number three
hire somebody part-time believe for
those of you watching like this video
you can support me by clicking on the
link in the description leave a comment
below let me know what you think ask a
question and click on my face to
subscribe to the channel thank you so
much I’ll see you soon
Please follow and like us: