Starting a business is a perilous time. In the early days, you need to build momentum quickly and establish a name for yourself, and a client base as quickly as possible, with the minimum of cost. Until you’ve got a stable of loyal customers for your product or service, running a business is simply pouring resources and finance into a black hole.
Today we’re looking at some of the shortcuts you can take to stretch your budget further and get more for your money in 2018!
Renting Facilities
If you’re running a start-up, you likely have a lean operation: no more staff or resources than it takes to get your initial offering ready for the market. If your tea consists only a of a couple of technical specialists, you might be running out of a spare bedroom in the early days, burning the midnight oil to code together a minimum viable product for investors to see.
Although that helps to stretch your budget, when you need to show that MVP to your investors, you can’t do it in your kitchen.
Renting a full office too early in your company’s life cycle will see you spending money on space you simply don’t use: for most small businesses having permanent access to a conference room is an unjustifiable luxury.
It makes more sense to rent facilities only when you need them. This means you can present to clients and investors in a professional meeting room when you need it, and pay only when you need it, rather than paying year round for something you use only irregularly, or using only the substandard facilities you do have access to all the time.
If you’re trying to hire a meeting room Manchester has plenty of possibilities, allowing you to find the one you need, when you need it, at the right price too.
Get Specialists
In a similar move, it doesn’t make too much sense for a small, young company to keep a lawyer permanently on its books, or a full time HR Specialist. That doesn’t mean you don’t need access to those skills, however. Rather than hiring a permanent, full time member of staff to handle the HR needs of a small, agile team, consider looking into Interim Management. An Interim HR Manager can spend a few weeks with your company, assess your needs and set systems in place that will continue to track and support your employees long after the Interim contract is over.
Smart use of Interim talent is the key that lets small companies thrive, and punch above their weight in a competitive marketplace!
