Tips to Help You Make the Most of Every Precious Startup Dollar

There was once a time when the difference between a successful business and being an employee was having a great idea. Nowadays, everybody has a great idea for a business and the primary barrier is finding an investor.

 

For this reason, once you finally do have the startup capital to get your business up and running, it’s important that you make the most of what you have. Below are some great tips which can help you to do just that.

 

Don’t Aim for the Skies

Literally! While you may be dreaming about working in a skyscraper in a brand new office furnished with the latest technology, right now, while you are starting, the best place to have an office is where your customers and business partners can access.  

 

For this reason, consider the type of service that you will be providing and what type of access your clients will need. For example, if your service primarily focuses on elderly care then consider setting up your office near a range of retirement homes. Similarly, if you are a bail-bonds service then setting up your space close to a police station could be a good idea. Whatever type of business you will be operating, be sure that your clients can access you.

 

Keep Your Spending in Check

The worst thing that you can do is to pretend like you are on the set of Entourage and spend your money frivolously. When it comes time to make purchases, make economic ones. For example, Instead of buying a company car, utilize a Budget Rent a Car from Groupon Coupons and only pay for the days that you actually need a vehicle to meet with clients or complete your business errands.

 

Nothing Needs to Be New

Each time that you make a large purchase, you have the choice to either buy a brand new item or to buy one which has been used previously. While shopping for your home items may be one thing, your clients and customers don’t know whether or not the waiting couch they are sitting on or the paintings hanging on the wall have been part of a reception area previously. With this in mind, look for ex-lease and used office furniture and furnishing items before choosing something new.

 

If It Must Be New

If there are items which absolutely must be new then be sure to shop around, first. Just as you would with your home spending, apply methods such as taking advantage of bulk items, shopping at warehouse stores, or even taking advantage of coupons and vouchers for office related items. Whatever the item is, if it’s going to be new, be sure that it isn’t full-price.

 

Of course, if you want to further reduce your startup costs, consider leasing furniture. While you may have to pay a little more over the course of your leasing period for the items, not only do you have a heavily reduced initial overhead but you will also have the benefit of receiving new items.

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