April 14, 2012

Success Startup Step #12

Pinch the right pennies.

You don’t need fancy offices to launch a successful startup. You don’t need to own the factory that will make your widget. Distribution and warehousing don’t have to be bought – they can be rented.

Those are just a few sensible ways to keep your overhead low. You can economize in other ways, of course, such as outsourcing accounting, human resources or benefits administration. Focus your resources (time, money, attention) on the most leveraged assets.

With that in mind, it is not a smart idea to pinch pennies researching the market, brand naming, logo or tagline creation, or forging the brand narrative. It is not wise to economize on website development or social media. Why nickel-and-dime the tools you’re going to need to make your story visible?

Jump to the next in this 16-part series, or start at the beginning.