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Start-up Expenses should be Avoided

Start-up Expenses should be Avoided

One of the most important things that every startup needs to take care of is the financial plan (expenses). Even with startups with a lot of capital, they have to be more careful and detailed in finance. Let’s take a look at some of the expenses that every startup needs to avoid, especially in the early stages of operation.

Expenses for office work

Expenses for office work

It can be said that the office is both the face of a startup and the home of all employees. As a startup, you’re more likely to spend more time at work than at home so that is also understandable. However, do not for that reason pour a large amount of money every month, every year for the office.

No one wants to ignore an office that is decorated with shimmering, from design to modern interior. But that comes with an uncomfortable price, next to a deposit for location, equipment, phone, internet, electricity, water, etc. Instead, there are many other options such as models. Working at Coworking Space is more professional or if space is not too important, the option to work individually at the library, coffee shop, etc. are also popular familiar destinations.

Cost of customer access

Selecting a campaign to help build branding, advertising, PR, etc. needs to be done quickly and is almost a prerequisite for every start-up. Efforts to reach out to the community, bring their products or services closer to customers are what needs to be done.

But buying likes, shares, or fan page interactions, acquiring information about customers, etc. This problem is very common but not an expense that every startup should “pour” into. The amount of virtual interactions above means that they can leave you at any time if you stop “pouring” money into them.

Moreover, the number that startups are spending on an advertising campaign, attracting that community can be a lot with a start-up, but for large established businesses, such costs are even higher. maybe not even worth their concern.

Operating costs in start-up expenses

Operating costs in start-up expenses

Operating costs are an item that is unlikely to change or fluctuate greatly. At the same time, this is also a mandatory cost, but it also accounts for a small percentage of the total cost that you need to spend. However, more important and need to pay attention is how to optimize the operating costs incurred to be as lean as possible.

Simplicity can come from saving electricity, water, heating, etc. with additional costs. Until the cost optimization in terms of salaries such as a reasonable choice between part-time and full time or freelancer for different tasks … is the basic point in the required cost. These are not too difficult problems to solve, every startup can choose to do this from the very first days of the startup process.

For Foreign companies that want to start or expand businesses and look for an office in Vietnam:

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huyho

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