Steve Adams

Back in the 1980s, a popular television show named MacGyver gave rise to a whole new term. Essentially, the cleverness of his ability to extricate himself from life-or-death situations by making something out of practically nothing led to the use of his name as a verb. As in, “I locked myself out of the house, but I managed to McGyver a paper clip onto a popsicle stick with some chewing gum and use it to unlock a window so I could get in.” MacGyvering (being in the process of building something) and MacGyvered (telling the story of your triumph afterward) also became quite popular.

Entrepreneurs who are starting their own businesses in the current economy – whether by choice or circumstances – could learn a lot from our friend Mr. MacGyver. Because while starting a business using conventional methods can be expensive, there are things you can do to severely reduce costs without reducing your ability to do the work or service your customers properly. Here are a few ideas on how to MacGyver your seed money to make it go farther.

When economic times are good, the spirit of altruism seems to come to the fore. Individuals and organizations look for ways they can make a positive impact on other people and their surroundings – even if it costs them a little more. Making sure the business is environmentally-friendly is one of those activities.

In times like we’re experiencing now, however, the instincts run more toward survival: Large and small businesses place their focus on keeping the doors open until the crisis passes. It’s not that they don’t care about the broader issues – they still do – but they often feel they have to place those initiatives on hold until things improve.