Our top tips for startups
Engage rather than employ
The advice and skills you need today could be different in three months’ time so avoid locking yourself into salaries when you can outsource to handpicked specialists and use as much of their skills as you need or can afford.
Curb your spending
If you’re starting a business or launching a new product, you don’t need to start with a grandiose office or spend years developing a finalised product before you launch. Instead, test your vision by launching a more rudimentary form of your concept to gain interest and feedback. Fine-tune and develop your product or service on the fly learning from actual test setups and real customers.
Preserve your equity
If you find yourself in a position of needing funds to operate or expand your business, you have a few options. Giving equity to investors is an easy method, but in the start-up phase it can be costly. This has everything to do with the present value of your company and little to do with its potential. Consider the other benefits investors could bring to your business but also look to preserve your equity.
Another option is going into debt with a loan from the bank. Paying back a loan might feel like a burden in the beginning, but you’ll maintain full ownership of your business.
Talk to our team
Ready for launch? We’ve assisted plenty of startups just like yours by providing sound financial advice to help businesses unleash their full potential. Get in touch today and find out how we can help you too.