We are starting a series of articles on how you can save start-up capital during a crisis.
In the previous series of articles, we looked at the sources of start-up capital for a business (the article “where to get start-up capital for your business“).
In times of crisis, many people start businesses
Most simply lose their jobs and sources of income, but they still want to eat. So you have to figure out how to survive in a difficult situation. This is just my case.
I just lost my job and started the business in 2009. It’s been a difficult year. But interesting. And very useful in terms of life experience.
The paradox of life is that when you lose your job, the money quickly runs out. And the family doesn’t have much to live on, let alone start a business.
Therefore, the brain “turns on”, and you begin to feverishly think: where to get money to start or how to save it.
One such source of money for a business is a discount.
Start-up capital in a business is needed in order to spend it:
— for equipment
— services — everything that is vital for a start.
At the same time, everything that you need to buy to start a business wants someone to sell. There are always a lot of companies around that want to sell something. And they have a crisis too! They also have problems with money, sales. They too face the fear of bankruptcy!
And here you are, so beautiful (or so beautiful), with an incredible desire to start your own business. Yes, you are just a salvation for the poor seller of the equipment, goods, services you need.
In a crisis, your buyer power is significantly greater than the seller’s power.
An example about a discount in a crisis
In the city of Yekaterinburg in the same crisis of 2008-2009. real estate prices have not officially fallen. But this is only official. In reality, an apartment that could be bought for $5 million in early 2008 could be bought for $4 million in mid-2009. The discount was about 20%.
Why did this happen? Yes, because the developers simply did not have money. And people who were willing to pay could demand better conditions for themselves.
But the discount is given only to those who ask for it. This is how our world is imperfect.
Let’s move on to the conclusions:
1) during a crisis, you as a buyer have much more power in price negotiations than a seller;
2) this power must be used, i.e. ask for a discount. If you don’t ask, no one will give you a discount. This is the prose of life;
3) in my experience, in a number of areas, discounts of up to 20% from the normal (pre-crisis) price of goods can be achieved.
Use these rules and save your money to start a business!
We read further: “start-up capital in a crisis: barter”