What are startup’s main assets? In most cases, it’s creativity, energy, teamwork and a strong desire to succeed. What’s in short supply – are the finances.
So how can a start-up save money? One of the most obvious ways is cutting expenses.
Buy second-hand …everything
At the beginning of your business, you won’t need expensive new furniture, filing cabinets or other office fixtures. Buying used furniture and equipment can help you save quite a lot.
Skimp on the overheads
The same way you don’t really need brand new fancy furniture, you may actually not need a brand new fancy office in prime location (depending on the nature of your business, of course).
Especially with a myriad of options available in Hong Kong: home-office, virtual office, a place in a business centre or an online presence.
Note: for virtual office and business centre help, please contact us at sales@centreo.hk)
Get help as you need it
Committing to a full-time salary is not easy for a startup. So get help as you need it. If you can not afford to hire a full-time specialist in the field, hire him as a consultant on a per/hour pay
Barter
If you have valuable services to offer, but not enough cash to get what you need to develop the company, try good old “exchange”. Let’s say you are a copywriter looking for a company to design your website – you could try offering them upgrading their web content or writing a few promo articles in exchange for some web-design help.
Be Frugal
Shop around for the best price. Every dollar saved is a dollar you can invest in your business.