05 Dec

3 Handy Tips to Budget your Startups!

3 Handy Tips to Budget your Startups!

Dreaming about running a business bring happy thoughts. Owning one, excites one even more. But to handle the real stress by keeping your startup running with profits, is something many regard as a big threat. To me, a solid plan or a strategy to keep your business running is an appropriate and true solution. So, here is me with 3 tips which you can implement if you are an information technology or internet startup!

Office Costs – Cut them

 

A big office is not necessarily the ultimate solution to getting big chunks of profits. Nor will a fancy office in a lavish area will bring handsome clients on your door. In the start, work matters. In fact, till the time you are growing big, opt for a place that is near to where your staff resides. Moreover, the place which requires less rent, also lowering your utility bills is the optimum choice.

Checkup with alternates till the time you can properly afford furniture and supplies required in your office. These burn out your bucks quickly. Buying supplies and furniture from discounted stores is a good idea.

Plan a Marketing Budget

There are ways on the web through which you can almost free market your product or services. Consider having a website to let your services speak to the people. Tools on Social Media like Facebook or Twitter are the best way to promote your startup in the initial phases. But again, having all your kinks for business on the ground matters. You got to develop your product perfectly before opening it in the public.

Crowdfunding – A Yes?

You can rely on equity crowd funding, a method in which fund is provided by investors in return for shared equity in your startup. Now obviously, the one who is willing to invest in your startup would have definitely seen your business’s vision and goals and potential to deliver, which you direly plan to follow. With shared equity, you’d be in a better position to get your business viral and open in the market with greater chances of success.

So umm, I think these are fairly enough. Try them and drop me a compliment. :)