5 Cost and Time-Saving Initiatives for Your Startup

September 28, 2014

8:00 pm

Time and money are two resources that cannot be spared in the fast-paced world of startups. As you create and manage your company, you will need to find reasonable ways to conserve time and money without cutting corners. Fortunately, there are some relatively simple ways to save two of your most valuable resources. Five initiatives for saving time and money are listed below.

Register Your Company Online

When you are in the process of establishing your startup, you will need to register your company or incorporate. There are multiple ways to register, but registering your company online is typically faster and less expensive than traditional methods. In the United States, www.bizfilings.com offers registration services, and eCompanies provides similar services in Australia.

Utilize Crowdsourcing for Branding

Graphic design is one very important aspect to the development of your startup, and you will need unique company designs that are professional, attractive, and affordable. Design crowdsourcing is significantly less expensive than hiring a traditional graphic design company to create your logo, stationary, business cards, website templates, and more. When you use crowdsourcing, professional designers will compete to fulfill your specific graphic design needs. As a result, you can select functional and attractive designs that will not sap your budget.

Explore Free Marketing Opportunities

Commercials, billboards, mailing lists, and other traditional marketing tools can be expensive and unfortunately, ineffective and difficult to track. Fortunately, the digital age is filled with free marketing opportunities. Modern search engine optimization (SEO) practices offer organic ways to increase your company’s ranking within relevant search results. Social media tools, including Facebook and Twitter, can help you target your audience and form lasting connections with clients and vendors. You can also promote your startup by word-of-mouth. This old-fashioned method relies on your ability to form networks by talking to potential clients and vendors.

Use Open Source Software

If your startup requires the use of multiple devices, purchasing software licenses can create a significant financial burden. Productivity suites like Open Office are free, and the software offers file formats that are compatible with other popular software packages, including Microsoft Office. Google Docs is another free office suite. The web-based suite functions as part of Google Drive, a free file storage and management service all connected to your Google account. There are a heap of open-source software packages to help your business become more effective and productive, with little to no cost.

Be Your Own Expert

Professional consultants tend to come with hefty price tags. There are some tasks that you should leave to a skilled professional, but you can save money by learning to complete some of the other tasks on your own. Things like basic accounting skills, routine HTML and CSS mark-up, basic web copy writing and minor repairs are relatively easy to learn. If you and your associates can master certain skills, you can avoid dedicating too much of your time and money to a consultant.

If you can save precious time and money, you can direct those resources to areas of your startup that really need the attention. The five suggestions listed above can help you conserve those valuable resources. These initiatives, combined with your own creative vision, can help you establish and maintain your startup.

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Clancy is the Organic Search manager at DesignCrowd. Clancy has over 7 years of online marketing experience ranging from large inhouse roles to agency land. He's got a passion for analytics and a degree in Petroleum Engineering from the University of New South Whales.

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