Start a Business on the Cheap: Where to Save
Some market experts claim we are living in the new Dot-com era, but instead of considering the possibility that the proverbial bubble could burst one day as it did in the past, investors and entrepreneurs are trying to figure out how to generate more startups and invest more money in internet businesses.
The original Dot-com bubble era gave entrepreneurs a chance to with almost no planning. The collapse happened due the incompetence of investors who threw millions of dollars at simple, undeveloped business plans. In the new hi-tech era, things have changed considerably.
Now entrepreneurs can start a business with almost no financial investment by engaging in extensive and elaborate planning.Here are some of the ways to cut costs of a project and join the growing field of entrepreneurship.
Do Everything Yourself
This is by far the most difficult path to success. However, free and useful tutorials can be found for almost every part of your entrepreneurship project, from designing a logo to organizing a marketing campaign.
Web sites such as Tutorialsiont and Coursera offer free tutorials and courses that provide assistance with almost everything necessary for building and maintaining a small online business. Another positive side of this is acquiring new skills that may help you expand your business sometime down the road or to move into new areas if your original plan fails to take off.
Use Free Software
For almost every paid version of a computer program there is a free version that can be found somewhere online. Of course, using pirated programs and applications is illegal, but fortunately there is plenty of free software created by enthusiasts who make it available at no or little cost and without any corporate obligations or responsibilities whatsoever.
Although these resources are free, the communities that make these programs, apps, and OS do so because they believe in better world, so some small donation will be appreciated.
Hire Freelancers
The freelance market is growing rapidly, and its share of the workforce will soon reach 40% in the United States alone. Professional services can be very costly, especially in more developed countries.
Due to this expanding market, very affordable professional services can be found at many online freelance outsourcing marketplaces. Professionals in developing countries are often highly skilled and, due to lower overhead costs, can offer services at a reduced price.
However, care should be taken when hiring people from these networks, so always check their references from previous clients and ask to see previous examples of their work.
Register Your Company Abroad
An excellent way to start a business while also traveling the world is to launch an enterprise somewhere abroad. Choosing a country with lower expenses than the United States can lead to better solvency from the very beginning.
This is not a new practice as can be seen by large numbers of expats who have chosen to open businesses in places ranging from Latin America to the Far East. A common destination for young entrepreneurs is South-East Asia, with Singapore being one of the most popular choices.
Its blend of Western standards of living with the exotic atmosphere of the East is what has contributed most to its popularity. Before deciding on this small and vibrant city, make sure to learn some of the basics of how to setup a company in Singapore and its living expenses. This holds true not just for Singapore, but for any other country of interest.
Category: Business
