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6 Startup Costs You Should Never Cut

6 Startup Costs You Should Never Cut

Running a startup on a limited budget is problematic. You need to cut costs and exist on minimal funds. That doesn’t mean you should make cuts everywhere, however. You must be able to make cuts in the right places, otherwise you could cause a lot of damage to your business.

These are just some of the startup costs you should never try to cut.

1. Your Product

Your product is your main offering. This is the ultimate factor that determines whether your company will succeed or whether it will fail. Put as much money as possible into your product because cutting corners will reduce the attractiveness of your offering.

That doesn’t mean you should make stupid spending decisions, but it does mean that your product, and the prototype, should get the absolute best money can buy. This could determine the fate of your business.

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2. Product Testing

Now that you have a great product, you need to test it out. This is where so many companies fail. Testing your product before it goes to market could prevent a lot of embarrassing feedback later. It’s amazing how many startups have released products that simply don’t work.

Invest in product testing and leave yourself some funds to go back to the drawing board if things don’t work how you intended.

3. Your Website

These days you can’t succeed without digital skills. And your website should be at the forefront of your thinking when it comes to a new startup. It’s your best, low-cost platform.

Your website must be user-friendly and, above all, your website must be mobile friendly. With over half of all traffic originating from mobile devices a simple desktop website is no longer enough.

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4. Your Social Media Presence

These days, social media is very much a pay-to-play platform. It’s no longer possible to simply rely on organic reach, unless you’re in the lucky few that happen to go viral. For everyone else, you must master social media advertising if you’re going to get noticed.

This means you should get started as early as possible with testing. Set some money aside to do this because it’s your best option for grabbing those first few customers.

5. Your Plan

Creating your product and marketing are crucial parts of your formula. But without a plan, you’re going to struggle to avoid wasted dollars and general confusion.

For example, let’s say a tech company has brought out its first app and it wants to target parents who need help budgeting. General social media advertising, not talking to your target market, and no timescale is only going to lead to disaster.

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But if that same company has a plan things change. Their marketing efforts are targeted at parents. They know what this audience responds to, so they’re not throwing things at a wall and hoping they stick.

6. Bringing in Talented Professionals

Some startup owners think that they have lots of time and no money, so they need to use time because it’s their greatest resource. Taking on every task in-house might seem like the best option, but that’s not so if you want to get your startup off the ground.

Doing everything yourself is a long trial and error process. And creating that consistent brand isn’t going to happen anytime soon. But by outsourcing some of the more menial tasks, you give yourself more time to focus on the things that really matter.

Many companies started out like this, as Tony Messer, CEO of Wizz Hosting Ltd says, “We made sure to bring in accountants, designers, and marketing experts on a part-time basis when we first got started. It meant spending more money, but we started to make money faster than we would have done.”

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Last Word – Even Bootstrapping Startups Never Cut Costs

The fact is that bootstrapping startups never cut costs where it matters because they know the result will be less progress, less ambition, and a poorer result in the long term. Don’t just think about the money you could save now. Think about the money you could gain in the future.

Where do you think is the best area to put money into, rather than taking it out?

Featured photo credit: Pexels / Startup Stock Photos via pexels.com

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Annie Qureshi

Entrepreneur

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Last Updated on May 23, 2021

10 Best Free Job Apps You Need For Effective Job Hunting

10 Best Free Job Apps You Need For Effective Job Hunting

Seeking for the right job but not sure how to do it in a more effective way?

Try job search apps!

To make the job hunting process easier, I’m recommending 10 best job apps that can help you look for the right match anywhere at any time. The best of all? They’re all free!

1. jobandtalent

jobandtalent

    Great for browsing new jobs as you commute home via subway, bus or carpool, the jobandtalent app is like a Pinterest for job seekers.

    Easily browse, save and revisit job postings from your smartphone and receive notifications about jobs that match your professional qualifications.

    Download it for iOS and Android.

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    2. Jobr

    jobr

      This job hunting app is unique in that it lets you anonymously browse job listings based on your professional resume. If a company that you like also shows an interest in you, the app let’s you chat directly with a company rep. Great for getting your foot in the door and making a memorable impression.

      Download it for iOS.

      3. Monster Job Search

      monster job search

        I’m a big fan of Monster. It’s one of the first job sites employers think of when they want to list a new position online. The Monster Job Search app functions pretty similarly to the normal website, so it’s very easy to use for not-so-tech-savvy job hunters.

        Download it for iOS and Android.

        4. Jobs and Career Search

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        job and career search

          This is a good, simple app for browsing global locations for your next job. With a job index of more than 50,000 jobs listed globally, this app is a good choice if you are moving to a new area and want to line a new job up quickly.

          Download it for iOS.

          5. Hyper Networking Groups

          hyper networking groups

            This job hunting app isn’t so much a job hunting app as it is a connections hunting app. It’s great for learning who’s who in your desired field and forming connections. It also shows you how you and your industry connections are connected via your social networks, so you can follow up with them on your other social sites.

            Download it for iOS.

            6. CardDrop

            CardDrop

              CardDrop is an awesome job hunting app that let’s you digitally drop and pick up virtual business cards. This app is great for helping you make new connections at seminars, interviews, meetings and conferences. You can also attach social media profiles to the cards you pick up or send to enable easier connecting on social networks.

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              Download it for Android and iOS.

              7. Job Interview Questions

              interview questions both

                Okay, so this app looks kind of outdated, but it’s super useful for getting you into the swing of answering any kind of interview question that is thrown your way. The big benefit of using this app is that it explains to you what your interviewers motivations might be for asking you a specific kind of question. Learn what your interviewer is looking for in your answers and be more prepared for the real interview when the time comes.

                Download it for Android.

                8. 101 Interview Questions and Answers

                101 both

                  This app is great because it provides guidance about the kinds of answers you should give for each kind of question. Think of it as an essay rubric but for job interview questions.

                  Download it for Android.

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                  9. Job Interview Question-Answer

                  q and a

                    Feeling confident with your text-answered interview questions but concerned about doing the face-to-face interview? This app prepares you for interacting with your interviewer by simulating an employer asking you questions.

                    You can record your response and see what you look like to the interviewer to understand what movements, vocal pauses, etc. you need to work on.

                    Download this app for iOS and Android.

                    10. HireVue

                    hirevue

                      HireVue is a great job hunting app for those times when your interviewer wants to get some preliminary questions out of the way.

                      When an interested employer wants to interview you, they send you a request via HireVue and you can answer it in your free time, when you’re ready. Your interview might consist of a some FaceTime, some multiple choice questions or open-ended text answers and can be completed and sent to the interviewer when you’re finish.

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                      Download it for Android and iOS.

                      Featured photo credit: Yura Fresh via unsplash.com

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