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If you are someone who has just got into the business of startup
then there are certain essential points that you need it keep in mind. There are a few cost effective solutions which can will give a great start to your startup.
Detailed below are the solutions :
- FOCUS ON DIGITAL ECOSYSTEM
Consider establishing your presence online which is cheaper. One of the most cost effective solutions for startups is to establish a virtual office. Focus on having a strong social media presence.
- HIRE INTELLIGENTLY
Rather than appointing people on payroll consider to hire freelancers. Also do not hurry and hire too many staff especially during the initial phases of the business.
- MINIMISE OFFICE EXPENDITURE
Focus on keeping your expenses as low as possible. Try and invest in only a few workstations.
- BRING YOUR DEVICE POLICY
Ask employees to carry their own device. You can make their devices as your official machinery.
- FOCUS ON THE PER PERSON PER HOUR PER MINUTE OUTPUT
Try to keep the expenses lower than the revenue. The per person approach will enable an effective management of the operations of the business.