Common Soles is an act of entrepreneurialism. We identified an opportunity and assembled needed resources to get this venture up and going. For us, that was the easy part. The hard part is now sustaining the venture!  In our journey to build the organization we have come across and met up with several other entrepreneurs, as well as taken calls and meetings with budding entrepreneurs all over. Often the topic is “how did you get started?”, or “what are the basic tools I need to get this thing up and going?” What has come out of all these interactions is what I’m calling the Entrepreneur’s Tool Box, or basically the tools that are nice to have at hand to anyone starting a business, regardless of industry or type.

Note: I recently saw an interesting slide show that Inc. did on this topic. It’s worth checking out as well.

So here in no particular order is what I would call the components to the ultimate entrepreneur’s tool box!

Laptop: A desktop is simply out of the question. Those are only good for playing solitaire. Your laptop needs to be ninja. That means fast, lightweight, has a webcam (for Skype), DVD burner, good battery life, uber reliable, and bonus if you have a wifi card. Standard wireless is of course mandatory. Dock it at a home/office station if you are concerned with ergonomics. I use a stand from Griffin to elevate mine while working in the office combined with a and a Logitech keyboard and mouse.  It was a low budget alternative to a full blown set-up and it works great because I really like my laptop’s screen. I have a Dell XPS M1330 which is a couple years old but still quite ninja.

Digi-cam: You probably already have one. This is critical for capturing product images, or blog/web images. Always take pictures of anything remotely interesting or related to your business. You never know when you will need them. Good photos tell a compelling story and can be used in presentations, ads, website, marketing collateral, etc. Build up that image library because you don’t want to have to pay $1,000 to Getty Images down the road for a picture you could own yourself! While you’re at it, get a Flip camcorder for a couple hundred dollars. Worth its weight in gold!

Phone: Get an iPhone or other ninja level smart-phone. The Black Berry is the lowest acceptable option, reason being that screen is too small for practical web browser usage and you will need to be able to interact with web pages while on the go.  Rao and I both swear by our iPhones. The Skype app is a must have, especially if traveling internationally. There are a million phone systems out there that enable you to manage a phone number for your business. We use Grasshopper. It’s great because it allows us to FWD calls to a cell when out and about.  Also great because they are web based and do not require any fixed asset purchases or large cash outlays.

Passport and knowledge of how to use it: You will travel, and it will probably be last minute when you need to go somewhere far and away. Make sure your Passport is up to date and won’t expire anytime soon.

Skype: Your new best friend for making calls. Free to 800 #’s, great international rates, and the web-cam will save you big $ and time in having to ship things all over the world. It will also help you explain concepts and build rapport with partners, clients, and folks you can’t easy visit in person. Rao and I use it all the time when he's in India to keep in touch and show each other concepts and product we are working on.

Software: I use the following on a regular basis. Adobe Photoshop, Adobe Illustrator (or Corel), an HTML editor such as Dreamweaver or FrontPage, Microsoft Word, Excel, and PowerPoint, Acrobat Pro, an FTP program such as Core FTP Lite, Quickbooks or whatever you prefer to manage $, and your choice of email programs.

Multi-function printer/scanner/copier/fax: I use the Lexmark X7675 and am reasonably satisfied.

UPS, FedEx, and USPS accounts: Free to set-up and make shipping and mailing a snap.

Debit card and a Bank account: Start off by just putting $500 or $1,000 into an account. Try with your current bank and they will most likely not charge you any fees since you already do business with them. We use Bank of America. Get a debit card, it will make expense tracking simple. No reason to ever pay a fee with all the competition in banking out there.

Business cards: It’s OK to spend some money here. Hire a designer if needed. A sexy looking business card goes a long way, especially when you are starting out. Check out VistaPrint for budget minded, or Moo Cards which are uber sexy to get started. Recycled paper and soy based inks are easy and make sense.

File storage: Set-up online document storage that you can access anywhere. I use a Gmail account that I forward all files to. It’s free and I can easily log-on and access it anywhere. A million options for this exist. Also, be sure to back-up your data somehow. Either online or a portable drive.

Cash:  As my business school finance professor used to say “Cash is king”. So true... That’s why you are doing all this right?  Make sure you’ve got some to start out with though. Put some in an envelope and keep it in your desk for the random instances that will arise, put some in the bank, and work on lining up a source for growth funds if needed.

Legal: Everyone has their own opinion here and a big part of this depends on the type of business you are starting. I love this site:  The Citizen Media Law Project.  A wealth of knowledge and resources. Have at it.

Network: This is probably the one most important element. If you have a relevant and strong network in your given field or industry life will be all that much easier. Build relationships, and cultivate them. Get referrals to good contractors that do all the things that you can’t. Legal, Accounting, Graphic Design, Web stuff, Warehousing, Fulfillment, IT, Copy editing, etc. Don’t have much of a professional network?? Start with your friends and family, if they like you, they will help you. Send them thank you emails and cards when they help you out. Send a bottle of wine if they made a key introduction, or stoked you out in another way. Be kind, be courteous, and be appreciative. Return favors and always smile!

Best of luck,
-Dave