Startup Talks: The Need-Want Filter!

Small entrepreneurs often go through a heartbreaking moment while striking through points after points on their wish lists for a tight budget. From selecting office spaces to deciding whether to buy that Joey-Chandler pair of La- Z Boy Recliners, what is really quick and easy is to use, is a Need-Want filter.

Step 1: Quickly jot down everything that comes to your head, all the first things that your office requires to the last ones, from file cabinets to Richard Branson posters, keep on adding whatever you can think of. You will have at least 20 things listed. Now, look for “List of Office Supplies” on the net and check if you want to add something from the lists available.

Step 2: Now start going through the list, look at the first thing you have noted and think if you “NEED” it or not. Caution, do not ask yourself if “You” need it or not, ask if the “Office” needs it. Detach “yourself” from the “office” and focus solely on the office.

Here you have to know how I’m defining NEED: Things without which an office cannot be called an office. For example: Desks/Chairs/Electricity/Internet etc. On an average, setting up an office with minimum facilities in Dhaka costs a maximum of BDT. 5000(Excluding the rent/space related costs). Yes, that’s true! Internet installation costs plus a few clicks on Bikroy.com/ekhanei.com and you’re through with your package of used office furniture!

Remember to meditate for a while to convince yourself to believe that you have a budget of 5000 taka to buy office supplies and be ready to work with used/donated furniture. You may set a budget slightly higher as soon as you can afford it without thinking twice!

In that budget, see what you can afford as you go through the list. The trick here is to be extremely quick in putting the tick marks.

Step 3: The rest of the items in your list are the ones you WANT in your office but you probably do not need at the moment. There is no thinking twice, and there is no going back through the list. Now sort the items according to their priority and your pocket. Add “in three months”, “in six months” , “in a year” beside the items. And it’s done!

John Lennon was not the only dreamer, nor are you. We all love to dream but an important thing for a start up is not to plan too much ahead for long term. One should definitely have a well-knitted vision but the executions should always consider the worst case scenarios. So be very realistic but never at the cost of your comfort. If you really think that bean bag chair would add a boost in your mood and productivity, go ahead and buy it. My suggestion to adjust such wishful purchases would be to sell something that you or your partners do not need, to raise finance for your dream office. This way you not only add a story to your office decor but also feel closer to your dream, vision and more importantly, yourself!

Leave a comment