"Ramen-style" entrepreneurship: 5 ways to be prudent

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Talking about the CEO, most people may think it means a spacious office, a sumptuous corporate meal, and a company credit card that can be used indefinitely. In fact, this is not the real picture of most American company CEOs, especially the CEO of startups. In many cases, corporate capital is directly related to the founder's personal checking account, and the CEO's corporate credit card is often used as a card to buy groceries.

When a hearty corporate meal turns into a simple ramen, and lunch is just a peanut butter and butter sandwich on a small table, it means you're probably in the entrepreneurial phase and you have to be careful. Here are 5 ways to help you save your venture capital without sacrificing quality and opportunity:

1. Reduce outsourcing, especially marketing outsourcing.

Social media marketing tends to overspend, especially if you're planning to do a viral marketing that will make your company a overnight success. When you have to outsource your online marketing, listen more to the vendor's reputation, such as their success rate and whether they insist on paying directly. Also keep a close eye on what social media strategies are being used by emerging rivals, and imitate them, but stick to their own characteristics.

2. Streamlining expenditure. Give investors a look at your ideas and how to save money.

Don't waste money on unnecessary aspects, such as fancy office space or dinner for investors. Instead, try more ideas and venues for the investors ' meeting. If you want to showcase a new retail concept, it's a great idea to meet at a local mall and take an investor to visit your product or store. If you create a new food concept, meet at a grocery store or chain restaurant that you want to sell. You can even use coffee instead of lunch or dinner, which not only saves money, but also proves to investors how careful you are.

3. Take a certain risk in creativity.

A good idea doesn't cost a penny (unless you mess it up!), it can also make your brand stand out, which is the key to entrepreneurial marketing. Create a brand for your company, giving it meaning or personality. Follow the feeling, wanton imagination. As long as you make sure you don't violate other people's patents.

4. Either big or go home and do it.

Investors and partners don't care what pajamas you wear, whether you work in a garage, or if you're walking around wearing snow boots. You can quickly expand your business and strive for the most benefit with the least amount of money. To be big is really simple. With only a small fee per month, you can have an answer service or an online support platform. Rely on reliable virtual resources to grasp every opportunity to meet with local entrepreneurs. Find new business opportunities in nearby universities, including coaching students who may become your colleagues in the future.

5. Support for payment in kind.

For example, if you are going to open a catering company, ask your accountant to enjoy a dinner every month to reduce his fee. This will not only reduce spending, but it can also help sell your services. Don't be embarrassed to ask for help or trade. Do you have any marketing friends? Ask the person how to adjust your website or newsletter. Do you know a graphic designer? See if he can help you design your logo. When you ask for help, remember to ask for help. It's payback.

When you think of this as a help, be careful that your friends or co-workers ask for stock in return. It doesn't seem like a big deal now, but if your company is going to be bigger and stronger someday, you may have to spend millions of of dollars in the future. But then again, these are not insurmountable problems.