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How To Reduce Business Start up Costs

    • 3 posts
    February 29, 2012 11:18 PM EST

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    • 10 posts
    September 21, 2012 1:00 AM EDT

    Instead of buying commercial properties at a very high price, it would be best if you are renting out an office space to save your lots of money. You can also rent a serviced office space for better services at an affordable price.

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    • 2 posts
    September 15, 2012 2:44 AM EDT

    There are various methods through which you can look for cost reduction at startup, most of the facilities looked upon by us should be from reliable sources and there may be a complete overlook on the fund raising programs executed by our administration department.

     

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    • 16 posts
    March 8, 2012 7:30 PM EST

    That would be a good idea!  

    • 344 posts
    October 16, 2011 8:04 PM EDT

    Lawyer Fees Can Be Circumvented

    While it is absolutely necessary to get your business registered from the start and to ensure that all your documents are legal, there may be ways to avoid handing over hundred if not thousands of dollars to an attorney. Legal sites such as LegalZoom.com may be able to offer the same service for a fraction of the cost. Comparison shop before you commit to a particular site and even a listed lawyer to make sure you are getting the best deal.


    Limit Your Scale to Your Budget

    There may be a way to start your business off on a smaller scale. You may have grand dreams but chances are you can cut back on the number of product variations you offer or the number of services you start out with to limit your expenditure at the beginning. As time passes and your business starts to earn revenue you can start to expand slowly.



    Start the Business at Home

    One great way to save on start-up costs is to operate out of your home. Lots of different business types don’t need the exposure of a commercial address and this is usually one of the most expensive aspects of starting a business. If you can find a way to start from the comfort of your own home you can save the money that would go into renting and maintaining a commercial presence and pump it into marketing your new venture.



    Use a Drop-Shipping Service

    If you have to deliver a product to your customers you can use a drop-shipping service to save on your start-up costs. A drop-shipper ensures you don’t have to handle the merchandise and this saves on both storage and shipping.



    Do-It-Yourself

    Finally, instead of relying on others to get the job done, commit to doing it yourself. Often an entrepreneur starts off wearing several different hats because it is cheaper to manage independently than it is to hire staff from the beginning. Eventually, you can hire some much needed help but doing as much as you can on your own can certainly cut the capital needed to get started. 

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    • 106 posts
    October 17, 2011 3:42 AM EDT

    Search for possible bargains for your purchases. As you need to set-up your business assets, there are inevitable purchases to make such as office furnishings, office supplies and other tools required for your trade. Certainly there are good bargains out there like used furnishings and equipment that are still good to use.

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    • 1 posts
    March 6, 2012 7:22 AM EST

    According to me in your home business of the scrapbook reducing start up cost steps are this. The first is the barter because it is useful to us. Buy all the bulk in the wholesale. You can also find the online or the off line auctions too.

     

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    • 44 posts
    July 22, 2012 7:43 PM EDT

    This is really a wonderful advice to start a small business or home based business, but if you are plannin for big busness then in that case you can't make any compromise against funding.



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    • 13 posts
    March 8, 2012 11:14 AM EST

    Great tips for reducing startup costs! Unfortunatey, many of these options (like dropshipping or starting your business at home) may not be available for every type of business or product. But I think your final tip, "Do-It-Yourself", is the best way to save. It may require some extra effort on your part, but anything you can do yourself will be one less thing you need to pay someone else for...

    ALSO, consider finding friends to help you with things you can't do yourself. You shouldn't expect your friends to work for free, but it's likely they will (depending on the task). If not, hiring friends is still cheaper than hiring an outsider...

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