Startup Businesses; Where Do The Costs Lie?

Startup businesses are the seeds that every big business once started off as. It’s a critically important part of any business as you have to be able to survive the first few years for your business to really start making you money! However, just like seeds, there is a large chance that your business isn’t going to survive, and this is normally down to costs that people just haven’t foreseen. If you carry on reading, you’ll know the places that require a lot of money so you can plan for them properly!

Marketing

This is an area where you can expect to spend a lot of money on. Businesses all require advertising, so this one isn’t just restricted to startup businesses but they feel the weight of them a lot more. Marketing covers a whole range of things, from website advertisements, managing and reaching out to people on social media, there is a huge array of things that can be done, and one of the leading ways now to get out to your customers is by making an application. This gives your customers an interactive surface to reach out to you on, however they can be very expensive. With apps for example, you need to know the real cost of making an app before you dive in and make one because whilst they are incredibly useful tools they can end up costing you a lot of money if you’re not careful!

Employees

Another area that you can expect to spend a lot of money on is on your employees. Your business will struggle to get anywhere if you don’t have the right employees, but you can end up spending a lot of money on them that you simply just don’t have. This is why you need to think outside the box and hire freelancers instead. Why would I do that, you ask? Well, freelancers are often cheaper and easier to get a hold of, meaning that you save time and money when you’re recruiting one. The best bit about them is that the contracts are entirely down to you, so when the time comes that you don’t need their services anymore you can tell them immediately and give them around a week’s notice instead of a month, meaning that you can get on with your business priorities!

Premises

This is gets cheaper and more manageable as your company gets bigger, but for the meantime it’s going to be a bit of a pain! Getting office space is very costly normally because the size that you’re going to be hiring out is just too big for your needs and you’re going to be overpaying because you don’t need that space. Companies like Regus are able to find office spaces that suit your needs exactly, meaning that you can get an office space that perfectly fits all of your employees so you can spend as little as possible!

All of these things are going to cost you a lot of money, but if you follow what’s been written here it’ll cut the cost down dramatically! You’ll not be overpaying for office space, you’ll know exactly how much your marketing campaign will cost you and you’ll have cheap, flexible workers, cutting down on the major areas of cost!

Michael Foote

Quote Goat's founder and money-saving enthusiast.

Startup Businesses; Where Do The Costs Lie?

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