How to make every cent count when you’re just starting out

If you're trying to operate on a razor-thin budget, or if you just want to remain as lean as possible, it's important to cut startup and initial operation expenses. How can you do it without jeopardizing the structure of your business?

Go remote: There are still some lingering concerns about working remotely and employee productivity, but don't let that stop you; for many businesses, the remote model is not only more cost-effective, it's also more productive. While you're at it, consider going paperless. If your business can operate exclusively in the digital realm, you'll end up saving thousands of dollars per month.

Bundle services and buy in bulk:

You should also try to bundle services and buy in bulk, if given the opportunity. Most companies are willing to provide a lower per-unit price to people who buy a greater quantity, since they can incentivize bigger purchases and ultimately make more profit. Ask if there are any bulk discounts or bundles available.

Minimize your staffing: Payroll is going to be one of your biggest expenses when starting a business, but there's no reason to let this get out of control. Many entrepreneurs, especially new ones, are tempted to hire robust teams from the outset, but if you can get by with a skeleton crew, try to minimize your hires. If you need extra support beyond your full-time team, consider enlisting the help of contractors and outsourcing.

Rely on open-source software:

You could pay hundreds, or even thousands of dollars per month for the core software your business needs, or you could choose an open-source alternative for free. There are some risks and downsides to open-source software, but it's a viable option for many applications and most businesses.