HOW TO SAVE MONEY RATIONALLY WHEN STARTING UP ?

Many new entrepreneurs have the problem of money.. It means that the money is not limitless for them and they should do something to save. Why we wrote how to save money rationally is because sometimes saving money is irrational. That means that sometimes you need to save and sometimes you definitely should not save at all. There are some costs which you cannot cut, but there are some secondary ones that you have to cut. Now, all we should do is to understand on what things exactly you can and how you can save. Saving money is important because money is not limitless and you cannot throw it on everything. So here we will present the things that you need to save on.

• One of the very first things you can do in order to save money in startup, is asking for advice not legally, that is to consulting agency, but asking mentors and advisors. This will cost you less money for sure and you will be able to save on it. Of course there will be periods that you will need advice which is quite natural. So instead of paying much money to agencies, just save and ask for advice to mentors.
• Use bartering or trading for swapping one thing for another. This is really a great method which for sure you can do in order to save money.
• Besides this, another way of saving is when the employees work on equity. A lot of people nowadays work on equities, without any initial salary, and this can lower your costs.
• If you have the right suppliers, then you will be able to save money. The thing is that the right supplier of things will offer the best price and time at the same time. That is really great because you can make the supplier your partner, always use his service and instead get the good prices for the service.
• You can also save up on customers, or which is better to say, you can gain on your customers. Here is what. All you need to do is to choose some key customers, offer them great discounts, which they will not be able to reject but instead ask for the long term use from your company. This will really make things so much better because you will have your long term clients. SO on one hand you make discounts but on the other hand you gain later.
• Use outsourcing as well. Outsourcing is great because you use the product only when you need it. You can outsource the partners for anything that you need at that very time. Outsourcing is a very convenient option for you.
• Use distributors to promote your product. It is a great idea to promote you product and spread it by the help of distributors. The best thing about it is that you will not pay the distributors but they will be able to use some of your products. You just have to sit and decide the deal between you two.
• Actually you can save up by working virtually. Nowadays the internet is so spread that people can work anywhere and very often there is no need to set business at all. All you have to do is to have your own company and hire employees who are ready to work not in the office, but where they want. The thing is that not all the business types can go with this variant, but anyway, it is quite possible for a lot of business types and it will save you a lot of money.
• Very often you can buy used things. I know that it does not sound great, but it is okay to buy used furniture for your startup company. Because you  are just starting up, it is absolutely okay to have used furniture in your company. When you see that you company grows and that you become something and that you can allow yourself to buy new furniture then you can do it. However, for the first period, it is quite okay to buy used things for office.

These are some things that will help you to understand what you can save on. There will be a lot of other ways to save as well. The only thing that you can do is to just save as much as you can but save rationally. Know where you have to save and where you have to spend. Do not save on the quality of your product or service. That will really be a mistake. You can save on your comfort, you can save by having some deals, but you should never ever save money on the quality of the product, because it is for customers and if customers do  not like it, then you are done with your startup.