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5 tips for new entrepreneurs to save money

5 tips for new entrepreneurs to save money

Despite the increase have been newly created companies, the softwares inexpensive , there are still companies that do not get off because they do not have enough capital.
Save money and generate capital to start a business is difficult and we have all heard stories about famous entrepreneurs working in their bedrooms and barely surviving when starting your business.

That’s why to be moderate and spend money wisely from the beginning it makes sense for the following reasons:


The founders of companies that have survived the phrase start-up or start-up is likely to be longer find their functions and internal authority that count but the control of the company will be reduced and transferred to later they will finance the later stages of growth.
The reality is that postponing the need for foreign capital is always a good strategic advice.


That said, let ‘s
look at five simple ideas to save money for the first entrepreneurs.


Starting and owning your own company can be an exciting experience, especially if you get success prematurely.
Unfortunately, many entrepreneurs decide to take advantage of the profits made overcharges the company as salary + s and higher profits, without regard for the trappings of success yet unreached.


You can keep your initial capital and save money by
doing the following:


Reduce your cash flow and the burden of the costs of the company, keeps your capital base, reduces the distance between the point of profitability and breakeven and sets the example austerity and internal discipline of the organization, which is important in the early years.


According to venture capitalist and author of ”
Hearts, Smarts, Guts & Luck ” Tony Tjan, nearly two – thirds of entrepreneurs are driven by the vision and unwavering sense of His purposes. They have passion and a “natural storytelling ability.”

However, entrepreneurs often overlook details and lack the necessary pass for an idea to be just that provide benefits and attention.


If your skill is “selling the dream” -a critical ability to raise funds and inspire your employees –
rather than by pragmatism and rationality lead you, you need to be careful not to try to do too much in a short time.


Do not use the cash and limited company resources to pursue attractive ways but do not require critical care at the
expense of meeting immediate objectives.


Savvy entrepreneurs realize they can not do the same things for all people, and instead it
is better to focus exclusively on tasks that require immediate attention before them. 


Focus allows you to
move from one task to the next finished placing your service or product on the market as soon as possible and keep down non – essential costs through contract work and virtual offices.


It allows you to be flexible to
adjust to the twists and turns of a base of fickle customers and intransigence or inefficiency of suppliers, processes and costly procedures. Focus means that you should only spend the money necessary to achieve immediate goals – no more, no less.


The start –
ups are necessarily based on a few key individuals with critical skills to build the company and direct it to the highest levels of success.  


Realistically, few companies, including those recently created, have prominent and responsible employees at the top.


As an
entrepreneur, you must understand that skills are important at each stage of growth of your company, relying on your own talent to hire and compensate other key employees as you need them .


Key positions probably will need at different stages of growth of the company include:


The ability to generate revenue is the most important capacity needed in all businesses, whether small or large, or engaged in the provision of services or selling products.
While you have sales (revenue), you can have the cash flow, time and resources to solve other problems that may arise.


The “gurus” – people who can design and implement effectively marketing and sales strategies, particularly in the electronic media – are essential for all businesses.
If it is a skill that you possess, recruits and hires marketing specialist or more successful salesperson you can find, and do not avoid compensation based on performance for the best. And appear and grow revenues, other operating problems will be more manageable.


Since the financial records are needed from day one
, many employers mistakenly seeking an accountant, usually a CPA, as one of its first employees. While accounting is a critical activity, skill is readily available in the market through a process of outsourcing or consulting agreements.


For example, it
is much cheaper to maintain a CPA for initial setup of the books and accounting software, conduct the necessary training and provide regular review, while accounts with employees accounting lower and auxiliary wages for records daily instead of hiring accountants accredited full – time.


Unlike accountants, people who understand the mechanics and practices of lenders and investors maintain close contacts with sources of capital, recognizing the legal and moral obligations necessary in seeking loans or investments, so they have a track record of delivering relatively rare and usually expensive results.


While such services can be provided through consulting agreements or commission, the need for capital from investors is so important for the newly created full –
time employment of a qualified financial professional is often justified companies.


Virtually every product or service has multiple sources of supply so an entrepreneur can first choose several options for performing actions with your product (or provide the service to their own employees) and purchase the product or service from a provider.


Invest in redundant capacity for a factor that is not essential to the success of your company in the market is generally cautious.
For example, a company selling a new umbrella wind gusts test should spend on design, marketing and sales capability instead of a new manufacturing plant, as manufacturers are plentiful. The ability to analyze products and services to determine a strategy either internal or external is the best option from a competitive and economic outlook for most new businesses.


The above list is
not limited to employees with key skills who are likely to be necessary during the early stages of growth, nor is it intended to belittle the value of the entrepreneur.


Companies succeed while combining team ‘s
efforts focused on measurable and achievable goals. But new companies rarely can afford to hire and reward exceptional employees for each full – time competition. It is important to understand what skills are essential, as are necessary and if the need is permanent or temporary.


 Hiring the right people
at the right time is the most effective way to save money in the long run. In addition, policies and compensation practices must be strategic sense, rewarding employees with a broader vision to succeed in business in the leading level in the industry, compared with payment received by people with essential skills and responsibilities but not critical.


Charles Duell, commissioner of the US Patent Office in 1899, allegedly said, “Everything that can be invented has been invented.”
Although Mr. Duell was obviously wrong, an entrepreneur must recognize that a lot of ideas have been invented, tested and even proven effective.


Thomas Edison said he did not invent anything that would
not sell – advice that every manager must follow. Before incurring spend doing something original, you should investigate to see what is available in the market for a better cost than could incur for a customized solution.


Incorporating papers and legal forms of all kinds is a common action on the
Internet and one – third of manufacturers supply volumes of products ranging from processed food to clothing for a negotiated price while logistics companies collect and send the products to the world.


Computers and communications enable virtual offices be available 24/7 for salespeople, customer service representatives, employees, attorneys and other administrative services.
Even marketers and sales by “sicarios” specialized with unique experience and contacts can be done externally.


Examine your operations to ensure that the activities undertaken are essential and are performed at lower than you can pay elsewhere cost.
Activities critical to your success should be performed by your employees, mainly the control to ensure your competitive advantage is sustained, while non – essential services are purchased at the lowest price.


According to Dr. Bob Nelson, a
motivational consultant and professor at the Rady School of Management at the University of California in San Diego, ” You get what you reward.”


The increase in compensation is significant if cash bonuses, stock and options, or tangible economic benefits, are powerful to meet performance targets defined motivators.


Sellers commission has been paid by the results for years, while profit sharing plans have been in use for over half a
century. The performance benefit for achieving objectives measured by results and objectives achieved, met deadlines, productivity, cost savings, and other tangible measures encourages positive results, especially when the targets are easy to define, understand, and employees and contractors responsible have the necessary skills to provide services.


Entrepreneurs must pay for performance and not for the presence, rewarding those who constantly meet the objectives defined in time and replace those – employees, contract workers or consultants – who do not meet defined.


However, before implementing a performance –
based incentive, you must be sure you understand and define the objectives appropriately, recognizing the possibility of unwanted consequences when targets are set without analysis or control.


For example, in the 1990s, Sears established sales targets with appropriate rewards of $ 147 per hour for staff car repair.
Later, there were complaints from consumers because employees charged and billed unnecessary activities. 


In other words, if you’re going to generate economic benefits for performance, make sure not at the
expense of the customer experience.


Create and guide a company to be self –
sustaining is one of the most difficult tasks an entrepreneur can perform.


More than one out
of five new businesses fail in their first year and,
according to Scott Shane , professor of entrepreneurial studies at Case Western Reserve University, “The typical new business that starts in the United States, five years later will be gone.”

While these suggestions will
not guarantee success if they will improve your chances of doing yasegurar that you always get the maximum benefit from your initial funding. 


What additional advice can suggest new entrepreneurs to save money?

 

Holaa, have been searching in many places to save money and porfin I found it
here, I wonder if you know where to find more room and save money. for I have sought out many no longer.


thank you very much.



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