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3 ways tech can help you cut overheads for your startup business

Posted by : Premraj | Posted on : Monday, April 23, 2018

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When you’re starting a small business, there’s no harm in dreaming big.

Now that you’re controlling the purse-strings, is it time to splash out on a salubrious office complete with a slide and leather beanbags?

The answer is probably no — unless you’re super confident you’ll be pulling in an impressive profit quickly.

But if you’re looking for sustainable success, here are three ways tech can help you cut overheads for your startup business.

1.Co-working spaces

Co-working spaces have become popular — with almost 1.7 people set to work in them by the end of 2018.

Most shared workplaces have ambient interiors that are comfortable to work in and look awesome.

And they’re excellent for networking — the chances of meeting a future business collaborator while working in this way are much higher than if you’re tucked away in exclusive premises.

And if you shop around, they can be cheaper too — leasing commercial premises in the right location can be out of reach for many small firms, but reserving a space in a trendy co-op building is manageable.

You’ll now find cool co-working spaces across the globe — look around your home town to find one that suits you perfectly.

2.Automated HR

Outsourced payroll streamlines your business — and gives you peace of mind knowing staff are paid promptly and tax arrangements taken care of automatically.

Without automated HR software, you’ll end up hiring at least one expensive HR partner — and qualified professionals don’t come cheap.

A high-quality package also generates reports that bring all the relevant information on timelines and forecasts to your fingertips, much more accurately than human-authored equivalents.

But if your business expands to the extent that you do need a human HR employee, don’t ditch your outsourced system — with less onerous administrative tasks to complete, they can focus on issues like staff wellbeing, emotional intelligence and culture.

Optimising payroll immediately is a wise move for any new business, because it’s crucial for employee trust.

3.Virtual PA

If you’re a capable entrepreneur, you might think that there’s no need for a personal assistant.

But be careful that you’re not taking too much pressure on your shoulders.

A virtual PA has several qualities that help you manage your workload efficiently and coordinate your efforts.

And they offer excellent flexibility — it’s possible to book a few hours each week, instead of shelling out on a full-time assistant.

Once you’ve sampled the skillset of an online helper, you’ll wonder how you ever did without them. And you’ll experience blissful peace of mind knowing that you’ll never miss a vital meeting again.

Starting a new business is tricky but keeping overheads to a minimum can maximise your profits.

Follow these three tech tips and your startup business will be fighting fit from the very start.

What cost-cutting tips did you use with a new business? Share your advice in the comments section.

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