When money is tight, as the case is, in any startup, you do not want to be spending on unnecessary things. But unfortunately, that is what most of us end up doing.
We tend to get our priorities wrong and spend too much money and time on things like, Big Office space, logo, fancy web template, going for a costly web server, luxury to mention a few. Instead of which, you need to be spending your resources on product development, market research, sales.
Drive your resources on activities/infrastructure which will help your company to go to the next level.
Below is the list of things you can save cash/resources on atleast in the early stage of your startup
- No to costly Logo : Do not spend a zillion dollars and time on choosing your logo, you can always change it when you have resources. An awesome logo with a mediocre product won’t do good in any way
- No to Fancy website design : A simple website will do, don’t spend too much on a web designer.
- No to Big Office space : Even a garage will do for a startup, do not spend on big office space at posh locations. This is totally unnecessary
- No to Hiring accountants/lawyers : Try to outsource your work. Hiring will eat up into your time as well.
- Rent instead of buying : Rent equipment where ever you can. As today’s need might not be of tomorrow’s, spending money on some equipment might turn out to be a total wastage of investment.
Always remember, your product must be your USP, not the website/ office where you sell them.
It is very important to concentrate on product than anything else.
from the pro himself
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