21 September 2022

Save Your Money, Honey: Pro Tips For Start Up Businesses

The costs of starting up a business can be sky high and keeping your small business afloat with all your outgoings is a tough nut to crack - and by no means a small task. We know, you’re in constant battle between what you want and what you need and working all this out is a mind boggler.

So, let’s try and ‘un-boggle’ the mind and shed some light on the mysteries of how to save some dollar as a start-up business.

Take all the free stuff you can get!

You can grow your business without paying soul-sucking rates that hurt your feelings just as much as they hurt your pockets! From accounting software to design apps, there are so many open-source platforms that you can utilise to boost your business in any department. Free tools and software are the perfect way to save lots of money. Familiarise yourself with these tools to decide which can provide you with the best solution.

Pro Tip: Learn all about the app/software/programme in question before signing up to avoid a nasty subscription sting.

Build relationships

An important path to take when starting up your business is networking. Get yourself out there and show your business off to the big wide world. The potential value that business connections and relationships hold is unlimited. From meeting a new business partner to bumping into a tech company who can sort that ongoing IT problem, establishing connections in your work environment can make life simple and could save you a bit of dough!

It's even easier to network and build your business community within a FigFlex centre too. Find out about that unmissable business event while you’re brewing a cuppa, or pop over to Joe next door to ask him for some financial advice, you never know what doors may open!

Choose flexible workspaces

Flexibility is key, especially in the early stages of business. Flexible workspaces provide more freedom than a traditional office lease and the money-saving factor is undeniable. Probably the best part about flexible office environments is the choice of just how flexible you want to be. For example, you could opt for coworking space which comes with heaps of benefits for a new start-up, freelancer or small business. Easy, pay-as-you-go membership packages might be exactly what you need for when you’re finding your business feet. With zero commitment needed, and business growth supported, it’s easy to work out why this option is so popular in modern business.

If a private space is more up your street, serviced offices can come with that flexibility too.  The bottom line is with a traditional office, more often than not, you’ll have to organise and pay for everything from décor to furniture, repairs to cleaning and so on. So, surely the all-inclusive option that a serviced office package from flexible workspace providers such as, oh I don’t know, *ahem* FigFlex, is a convenient, cost-efficient no-brainer for your small, growing business? We think so, too. Still, don’t just take our word for it, read some of our client spotlights to get a better idea of just how much flexible workspaces have worked for their businesses and get a feel for the popular working trend of flexible spaces.

There’s a reason why there’s a workplace revolution, and it all revolves around flexibility.

Evaluate & Eliminate

Do you really need a monthly subscription of that business news magazine? What about those expensive coffee pods that cost a pretty penny? If these types of add-ons contribute positively to your business or work life then that’s great, keep them! If not, however, it’s best just to let them go and see how the money you save starts racking up.

The same goes for suppliers, providers and even staff expenses. If you’re constantly evaluating and reviewing your expenditure, you’ll get to know exactly what’s earning you money and what’s draining it. Negotiate with your suppliers, although it can be a scary thing to do, you never know what type of golden nugget of a deal you could come out with just from posing the question. Familiarise how much usage certain assets get; can they be cut down or eliminated completely? Don’t be afraid to cross out staff amenities like unlimited free tea and coffee if it’s costing too much in the long run. It’s better to hold back on the small stuff rather than lose your valuable people.

Or better yet, just get free tea and coffee from your FigFlex Office!

Category: Business Focus

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