5 Ways Entrepreneurs Can Share Resources to Save Money and Increase Productivity

The life of an entrepreneur can be overwhelming, especially when you’re bootstrapping everything from the ground up by yourself. Sometimes, it can be difficult to fill every slot you need to keep your business running smoothly. You might have more roles than you have people to fill. Or, you need to find talent, but you’re having a hard time paying for it.

Sharing resources with other entrepreneurs and small businesses can save your business money and boost productivity, as long as there are two business who need the same help, need the same resources, and have the ability to think outside of the box.

Here are 5 ways entrepreneurs can share resources to save money and increase productivity.

1. Virtual Assistants:

A virtual assistant can help you organize your schedule, get letters stuffed and mailed, send marketing emails, or type up proposals for you.  This may be a great solution for you if you think you need an assistant 5-10 hours per week, but you don’t need someone all of the time.

2. Co-working space:

Co-working spaces are a great option for professionals who work independently as freelancers, contractors, or solopreneurs, by offering the amenities of an office: conference rooms, a reception desk to welcome clients, and unlimited quantities of freshly brewed coffee.

3. Marketing Specialist:

If you are in need to of a marketing specialist, you may want to look at your area’s marketing association.  They may have professionals that are looking to gain experience in your industry at a reasonable cost.  Alternatively, you may look to a marketing company to handle specific tasks that are outside of your comfort zone and take care of the rest yourself.

4. Accounting:

If you are thinking about sharing a bookkeeper with another business, make sure you  set up the right schedule to work with your needs, because some businesses may require more accounting than others. Another option is to outsource to a bookkeeper or find a company that provides these services, in which you can still get part-time service but is tailored to meet your specific needs.

5. Sales:

Hiring a sales person directly is one of the most difficult positions to fill as a small business owner.  You need help generating business, but you don’t know how to compensate a sales team member for generating leads, closing deals, or growing revenue.  There are a few options to consider here.  You could bring on a lead generation service (in which your team follows up on the leads directly), hire an outsourced company or consultant for sales lead generation and closing deals, or pay for a sales training class for your operations team.  After their training is complete, you would include a compensation plan to get your team to generate their own sales.

 

Sharing resources is a great way to save money and still add the talent you need to your team. How you do it can vary based on your needs.

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