3 ms·
Do you know of any hacks to minimize spending? I ask because given the funding climate right now, it seems foolish not to raise more capital on great terms. It
by grinich 13y ago
Do you know of any hacks to minimize spending?
I ask because given the funding climate right now, it seems foolish not to raise more capital on great terms. It's especially true for first-time founders, who don't have an intuitive sense of how much the startup will need. (Or personal assets to float the company, if needed.)
It's also not clear how to maintain a sense of urgency or frugality when other startups are paying crazy salaries and throwing huge parties.
Perhaps this is less about spending money, and more about staying focused.
- pg 13y agoDon't hire people. That is where startups spend all their money. Hiring too fast is doubly constraining. It increases your costs, and it also makes it harder to change direction.
- fblp 13y agoOutsource tasks that cost human resources but are repetitive and easy to systemise. For example, you can outsource market lead generation, social media posting and other data entry for a few dollars an hour. Or get interns (be careful about the management cost of interns that will only stay for a short time).