5 Ways Your Online Startup Can Save Money

Dennis Skley

If you have a great idea for an online business, then you should do everything you can to make it happen. Technology has made it very easy, but the trouble is, it can be an expensive time. And, if you don't have the budget to spend, it can hinder your progress. But have no fear - here are five ways that your online startup can save money.

Rental and utility costs

You have probably heard of famous tales of technology startups like Apple kicking off in a garage. Well, while we can't guarantee the success that the company from Cupertino enjoy, it's still a splendid idea. Not only will you save money on rents and utility bills, but you will also save on travel. Getting to and from work is a cost often forgotten by startups, and the money you save can be used to invest in more profitable areas of your business.

Outsource, don't hire

Try not to hire employees when you are just starting out. Paying staff in salary and benefits is one of the biggest costs to any businesses, and it is one that you can't afford to do right now. Instead, look into outsourcing the vital areas to companies that are already experts in their fields. You might be able to find some deals, too. For example, companies like offer SEO services. But, the benefit to your startup is that you don't have to pay them until their results start to kick in. Not only will you save on hiring and training your team, you can also delay the payments until you have begun to rank for your key search terms.   

Buy used equipment

OK, so filling up your home office or garage with an impressive array of devices and equipment might look beautiful but is it necessary? Because, let's face it; it's going to be expensive. You might be better off going for second-hand equipment, or refurbished gear direct from the manufacturers. You can pick up some great deals on powerful PCs from the Dell Outlet at a fraction of the price, for example.

Get an accountant

Accountants might be an extra cost, but by the end of the year they will have saved you a lot more money than you have paid them. Finding a good accountant at an early stage is a wise idea for any business. Not only will they save you cash, but they will also be able to advise you on where to put your money and profits. It will also free up your own time from counting your beans to more important areas of your business.

Negotiate like a boss

There are savings on just about anything you can think of. And as a startup, negotiation is one skill that you will need. Look into using companies who offer startups discounts and learn to haggle for anything. You might be surprised what you come up with. You can also think about trading services with other local businesses. Let's say that you are a web designer, but need help with your marketing. Perhaps you can improve a local marketing agency’s website while they recommend you to their clients. They might even start using you full time if you manage to impress them enough.

Any more tips? Feel free to lend us your expertise and share them, and don’t forget to take a look around our blog for more great tips and advice from the world of the web.