Expenses You Should Not Cut

“Success of your business starts with you.” 

• CFO/Accountant. A good CFO or accountant can save you more money than you’ll spend on them. Getting your financial house in order isn’t something you can leave until you become profitable, and a good accountant will keep you informed and organized about the financial status of the business.
• Employee Satisfaction. Making sure your full-time workers are happy is integral to your success. Don’t be cheap when it comes to providing your team with everything it needs to be productive and happy such as large monitors, fast machines, and comfortable chairs. Morale is very important, and a happy workforce is a productive workforce.
• Lawyer/Legal Expenses. There are many services that aren’t worth your time or money in the beginning. But nearly all startup entrepreneurs will require some amount of legal assistance. It can range from incorporation paperwork to understanding liability issues.
• Marketing. Marketing has become a science, and any advantage you can secure in the early stages will be beneficial. This is not to say you should just throw cash away on frivolous promotional ploys. But there are lots of third parties with expertise in this area that you can leverage.
• Outsourcing. As you begin to put your company together, one of the biggest expenses you’ll encounter is payroll. One simple solution is to outsource some of your work. There are plenty of extremely talented freelancers out there who who will work for less than a full-time employee, but that doesn’t necessarily mean they’re inexpensive.

There are so many ways for startups to cut costs, but it’s just as important to know where to spend your money. Investing in your company’s future at the beginning can save you headaches, heartache, and hassle in the years to come.