Bootstrap Your IT Startup With Refurbished Products

There are many hurdles in the path of creating a successful startup. Having enough funds and ensuring the availability of fund is one of the main challenges that the startups of the modern times are facing. If you happen to plan on an IT based startup, you are looking at a major fund requirement just to get the necessary computers or laptops. So, how can you manage your startup fund in the best possible way?

Bootstrapping your startup

Finding an angel investor is not really as easy as some people make it sound. Finding someone to fund your idea needs a lot of hard work and convincing, as well as some amount of luck. Bootstrapping your startup is a far more viable option. It is also noted by many financial experts that there is a higher probability of success with a bootstrapped startup than ones with major angel investor funds. The reason is that the bootstrapped startup is low on funds in most cases and will be cautious while spending funds. The huge funding available from angel investors most of the time pushes the startups into cash burning processes, thus creating a downward path.

However, is it easy to bootstrap your startup? Certainly not! If you are planning on an IT based startup, the fund required for bootstrapping is even higher. But you can now bring that cost down substantially by aiming for refurbished products to meet the needs.

Refurbished products decrease cash burn rate

When you are bootstrapping your startup you will need to keep a close eye on the cash burn rate. It can never go too high, since such a situation will lead to your startup dying out before even commencing proper profitable business. So, where will you find such refurbished products?

There are quite a number of secure IT recycling units available in many major cities. The first step is to contact them with your requirements. If, suppose, you are in Edinburgh, you need to look out for computer disposal Edinburgh companies. Cities with major IT firms often have a number of such companies that buy out the old and outdated units from these organisations. Having these units refurbished to create a new batch that will support your startup is no big deal and a great money saver trick.

There are many startup organisations that are even going for rented computers and laptops to meet their temporary needs. This is mostly the case when a startup web or software development organisation works with freelancers mostly. Such companies need to provide additional computers to the freelancers working from their offices for the duration of the project. Renting the computers is a far better option than getting new products if the requirement is temporary and for a short duration.

Calculated and intelligent utilisation of fund helps in increasing the profit margin of any organisation. In case of bootstrapped startups, it is all the more important. Establishing business relationship with a secure IT recycling company is the first step towards achieving it.