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Bootstrapping your business with minimum resources

09 Apr 2015

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Dr. Chan began his sharing by telling us to start up a business at the very beginning with limited resources; business was not learnt by reading many books but just doing it. He pointed out that fund raising was always difficult but there were still potential funding sources, those funding sources also provided a platform for introduction and connection between angel investors and start-up companies, more than that, training and mentorship would be provided by some funding companies. 

For a company incorporation and registration, it could be done within few thousand dollars. Working space should be an issue but co-working space or incubator was a good option, home office was another good choice either. Thanked to the advanced development of technologies, there were quite a lot of resources for people to maintain a good practice of management, Dr. Chan suggested making good use of technologies to save money, for example, Google offered well-rounded office management systems which were free of charge. In addition, we could take advantage of social network to publicize a business. Last but not least, he recommended using cloud storage, different management system to manage project, idea, knowledge and etc… of which a business could be kicked off with limited funds while adequate and free technologies and system were available.

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