More often than not, online start-ups are strapped for cash. You will have to be very careful with the financial resources your start-up currently possesses in order not to go bust. You may have already heard the horror stories of start-ups that went bust because the owners were too liberal with the funding.
Spending money on projects with guaranteed returns is not the only way to save money at your company. You could be wasting hundreds of dollars per month at your start-up using antiquated technology. If you don’t want to waste precious funding, consider the following solutions for your online start-up:
Rent a Virtual Private Server
Sharing information though different machines costs a lot of money for many businesses, especially start-ups. Currently, the best solution for server-related charges is to switch to a virtual private server. Locally, there are a number of excellent Australian VPS service providers that can provide you with perks like SSD storage. The monthly costs can be as low as 15 AUD.
Go Paper Free
If you are an online business, there are no good reasons that you should be still spending a lot of money on paper. Many employees only use paper products out of habit, not because they need it. You can make your company more cost-efficient and greener by adopting a paper-free policy. Switch to digital software to do things that normally requires paper, such as taking notes. You will definitely eliminate an unnecessary cost at your business by letting go of paper.
Use Cloud Solutions
How much money do you spend for data storage at your start-up? Like with hosting reviews, your business can save a lot of money by switching to cloud storage. Cloud solutions are convenient, easy to use and cost only a fraction of the alternative.
Consider Having a Virtual Office
The rent you have to pay for your office will probably be the heftiest expense at your business. If you want good business, your company will have to be located in a city like Sydney. But such urban areas in Australia are eye-wateringly expensive. Also, the time wasted at traffic is even worse. You can eliminate both these problems by switching to a virtual office and letting employees work from home. Seriously consider if this is a good option for your company.
Outsource Repetitive and Unskilled Tasks
Your business will occasionally have certain tasks that require little skill but consumes a lot of time. It’s best to outsource such tasks to a third-party that will do it for cheap. For example, you can outsource writing a press release to a freelancer instead of hiring a full-time writer.
Follow the above tips and save a lot of money at your company.