5 Ways of Bootstrapping Your Start-up

One of the biggest challenges associated with laying the foundations of a start-up in the corporate market is funding. Not everyone is lucky enough to get funded by venture capital or angel investors; you generally have to put in money from your savings or loans. When the budget is tight, your priority lies in keeping it more realistic and sufficient for a good amount of time.  In such situations, bootstrapping for your start-up becomes absolutely essential. Bootstrapping is the concept of keeping your budget low and realistic by utilizing the resources that are readily available to you.

At Bizcostsavers B2B Marketplace, we provide you with efficient solutions that allow you to utilize your resources in the most effective manner. We believe that by adapting the following ways for bootstrapping your start-up, you will achieve the best results of your tight investment in to the business. So have a look at some of our suggestions for you below:

Outsourcing: When you do not have enough money to hire an employee on a short term project, your best option is to outsource. The internet as a search engine holds a broad pool of talent in all fields so you wouldn't have to worry about finding the right fit. There are a bunch of web designers, programmers, writers and more available to work for you from their respective locations. You will be saving up the costs incurred by having an employee on site. To outsource people there are many specific websites out there; we help you find the most reliable websites so that you can choose from the best lot.

Interns: Hiring interns will prove to be a win-win situation for both. You will get support for your start-up at little or no cost while the intern gains sufficient knowledge and experience for the future. Interns are very useful for small hands on tasks that usually require the employment of another employee. Instead by keeping an intern you save the cost which would be spent on a full time employee. Especially since start-ups are fairly small and growing, hiring interns will benefit you as they can become involved in all aspects of the company.

Energy Efficient Solutions: Saving energy in your office will take you a long way, not only as a cost effective measure but also as an environmental saver. Simple steps such as using compact fluorescent light bulbs, using recycled products, keeping energy efficient appliances in your kitchen and adopting rain water harvesting will bring down your costs by a large margin. Not only will you be efficiently using your resources but you will also benefit from the added branding message that your company will gain by going green.

Barter: Bartering opportunities have springing up on the internet with the prominence of various business to business websites. This is one of the best solutions for small start-up to get what they need in the most inexpensive manner. Basically using this service will mean that you are providing services in exchange for other services from the person at the other end. So as you can see this method does not really involve cash flow, it’s just an exchange of services.

Shared Offices: Otherwise known as co-working, this concept has become quite the trend for start-ups today. Renting office space is a very difficult process considering high real estate costs and finding the right location. When you opt for shared offices, you will not have to worry about both those problems. Such shared offices are very vibrant and located at prime business locations only for a fraction of the cost. You will have the opportunity to explore the many benefits associated with co-working which will have a far greater impact on reducing your costs too.

Being a start-up company, you may think it is very difficult in managing a whole lot of aspects associated with it. However bootstrapping is your best and most convenient option and at Bizcostsavers we make it easier for you by providing solutions to save costs and go big. So always remember this: Cutting expenses only means one thing, more profits for you and your business.