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 email@example.com)
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
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.
Shop around for the best price. Every dollar saved is a dollar you can invest in your business.