A startup business is like a baby; fragile, exciting but also potentially messy if not kept an eye on. Thus, it is important to save as much money as possible in order to assist in its growth. This list will support you in this and will set some basic principles for your company to follow.
1. Hire carefully- the asset of freelancers
When you first begin your company, it is important to select the appropriate staff to match the company’s needs so that it can grow efficiently. In business, time really is money and you do not want your employees being unproductive. You want employees that know how to own their trade without being distracted by a non-work-related activity.
For instance, according to a survey conducted by Salary.com, one of the biggest time-wasting activities at work is employees surfing the internet. To avoid any future problems with your staff be sure to interview them efficiently and ask for clarification on anything on their CV that you are unsure about.
You may also want to look into freelancing assistance to help you grow your business. Many marketers, writers, and social media assistants are happy to work from home, as long as they paid for their work.
2. VOIP expenses
When looking into Voice Over Internet Protocol, you may be thinking “How expensive is VOIP?” Well, as VOIP utilises internet focused communications, for instance, Skype, instead of Landline services, it is guaranteed to save your business money. Instead of being attached to various phone lines, you can easily sign up to free messengers to arrange group calls and business meetings.
International calls now can become a breeze as the International costs can be practically avoided. With the right internet provider, VOIP is known to be at least 60% more cost-effective than using a landline service. This will certainly get your business up and running.
3. Invest in reliable technology before upgrading
You may feel offended being offered a free item if it is not the latest model, however it would be foolish not to invest in it. Not only does old or free software come with a free trial test, thus you will be able to see if it is suitable for the business, but it means that if you wish to continue using it then it is an easy task to uninstall it and then redownload for a new trial. Money saved.
4. Buy in bulk
When negotiating with traders, it is important to know that they are looking to sell as many of their items as possible. Therefore, they may be willing to make a better deal if you are prepared to buy a bulk of product rather than just investing in one. Don’t be scared to haggle a better deal from them, as the majority of start-up businesses are always looking for the best price. Whilst the haggling may occasionally fail, it is always worth a shot.
