The Entrepreneur’s Tool Kit: Engaging Talent from Universities
“Cost is more important than quality, but quality is the best way to reduce cost.” — Genichi Taguchi
In this week’s installment of the “The Entrepreneur’s Tool Kit,” we move to the fifth step, engaging talent from universities.
The basic challenge an early-stage startup faces is how to control costs while moving quickly to launch. Conventional wisdom dictates that entrepreneurship is hard and costly. The thought of piles of money required to launch haunts every entrepreneur’s dreams.
In your quest to bring your business vision to life, you will undoubtedly run into a steady stream of tasks that will add costs and consume time. For those resourceful few (with time and money), freelancers are a wonderful option, especially when you find one you connect and work well with. Freelancers for short projects work well and allows you to get things done in a timely manner
However, if you are a solopreneur with limited resources or have a limited skill set available within your core team, searching for the right freelancer is a painful experience that consumes precious time, especially when you have to vet their work, read their reviews and go through countless trial and error.
That’s where university help can make the difference. Universities have a wealth of eager, technology-savvy students yearning for a chance to earn real-world experience. They do quality work in a timely manner, and their knowledge can range from marketing, sales, legal, coding, communications, and much more.
Reaching out to universities’ career offices or specific departments, you can often find these students available through internships, capstones, and graduate projects. Alternatively, you can turn to entrepreneur communities that already have established university relationships to leverage.
Utilizing this often overlooked resource is a great way to minimize costs while also helping young professionals gain valuable experience. This mutually beneficial relationship is one of the best ways to catapult your startup without breaking your bank or back
Previously on “The Entrepreneur’s Toolkit”: Picking your core team.
Next week: Building a rapid prototype.
