3 Ways to Streamline Your Startup Business Costs

Starting your own business can seem like a huge task. Would-be entrepreneurs have to consider all the things that go into a startup business: costs, logistics, time. While a close review of these aspects might make you want to pump the breaks, you should know that it is not impossible. Everyday, entrepreneurs and professionals make the leap to start their own business. It may take time and energy (and money), but it is definitely do-able.

If you’re looking into a startup business, there are options available to help you streamline operating costs. From virtual offices and coworking to contract and project-based workers, there are several ways to streamline your startup business costs so you can focus on growing.

Here’s three easy ways to help you streamline your startup business costs:

Virtual Office

A virtual office can be a great way to establish your business footprint without a permanent office location. Virtual office providers offer business services to companies and professionals who lack an office space.

With a virtual office, you can provide clients and associates with a legitimate business address instead of your home address or a P.O. Box.

You can also use virtual office services to help with call-answering and reception services. Virtual office providers offer professional call answering and call-forwarding services, so you never have to miss a call. Most virtual office providers offer live receptionists to field calls, take messages and even schedule appointments.

Some virtual offices even offer hourly conference space and meeting rooms to users as an extra value-add.

Coworking

The next step up from virtual office, coworking offers physical office space while still allowing flexibility to business owners and professionals.

Instead of locking you in to a traditional lease, coworking can offer your startup business a more economical option. Most shared work spaces and coworking venues offer office space on temporary and short term plans, so you don’t have to worry about annual or multi-year leases. Most spaces also offer different types of office space, from private offices to open seating and permanent desks. By cutting down on the space you consume, you are able to streamline monthly overhead costs.

Independent Contractors

Apart from establishing your business’ physical footprint, you’re going to need to address workflow issues as you expand. As you get your name out there, you’re bound to get more work coming your way. However, it can be difficult to reconcile incoming job prospects with bringing on extra employees. Even part-time employees can be a huge financial burden.

One method that’s been gaining traction with startup business owners, is the use of independent contractors. Small businesses and startups frequently use contracted workers as a readily-available workforce. You can hire an independent contractor one-off projects or recurring gigs.

As independent contractors are not classified as employees, business owners are not required to adhere to federal tax and insurance regulations that applies to traditional employment.

Independent contractors are everywhere. You can find advertisements for contractor services on flyers, signs and newspapers, but the best platforms for finding contract and project work is online. There are entire marketplaces online devoted to providing you with independent contractors.

The following are the major platforms for finding freelance and independent contract work:

• Fiverr
• Upwork
• Craigslist

Have a Tampa Startup Business?

There are tons of resources available to startup entrepreneurs and small business owners operating in the Tampa area. From business incubators, to networking groups and private partnerships, here’s some great resources to help you with your startup business:

• Tampa Bay WaVE
  • Founded in 2008, Tampa Bay WaVE, Inc. is a ‘by entrepreneurs, for entrepreneurs’ 501(c)(3) nonprofit helping entrepreneurs turn ideas into growing tech businesses in Tampa Bay. Today we support over 150 tech startups and over 250 entrepreneurs and other crazy talented techies that call Tampa Bay home.
• Tampa Bay Innovation Center – StartUp Xchange
  • StartUp Xchange is a monthly gathering of entrepreneurs, innovators and Innovation Center Mentors held at different restaurants in the Tampa Bay area.
• Tampa Hillsborough Economic Development Corporation
  • A private/public partnership, Tampa EDC  focuses on the continued development and expansion of Tampa as an economic generator. They offer resources and services to small businesses and corporations looking to relocate or expand in the Tampa market.
• StandUp Tampa
  • Formed in conjunction with the Tampa EDC, StandUp Tampa was designed to account for the growing millennial workforce and its contribution to Tampa’s economic development. They serve as an advocate for young entrepreneurs and professionals.
• Suites@Madison
  • Founded by real estate professionals, Suites@Madison serves as a collaborative hub and business incubator in downtown Tampa. Additionally, we host monthly real estate networking events.