Comments on: Money Saving Tips for Entrepreneurs (Cash is King)

By: Prashant

Prashant — Wed, 21 Jan 2009 15:46:57 +0000

This oneliner from Paul Graham is one of my favourite quotes regarding startup and money -
“When and if you get an infusion of real money from investors, what should you do with it? Not spend it, that’s what. ”

: simply put don’t spend it
-prashant
ref : http://www.paulgraham.com/start.html

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By: Rohit Gupta

Rohit Gupta — Wed, 15 Oct 2008 08:30:30 +0000

Skype has a service called “skypeout” through which you can call US cellphones for as low as 2 cents a minute. You can buy skype credit online through a credit card and can call almost all countries’ cellphones and landlines. Not just skype users. Do look it up.

By: Gautam Kshatriya

Gautam Kshatriya — Tue, 23 Sep 2008 13:18:04 +0000

I think one thing to bear in mind is not to compromise on essential comfort so such an extent that it actually reduces your productivity.

Gautam Kshatriya
gautam.kshatriya@moneyvidya.com
http://www.moneyvidya.com

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By: Rajat Nagpal

Rajat Nagpal — Wed, 10 Sep 2008 11:24:08 +0000

For a venture where online presence is not a necessity but required, you can use google apps and build the site using their templates.

You can also use google docs for file sharing etc, it will save you cost on internet bandwidth if using a limited bandwidth/download plan.

Try and get (customers, vendors, colleagues) all in online chat as compared to phone. On phone, you will get limited free calls and after that calls will be charged, so why not use chat as much as you can and use phone when it is very necessary.

When traveling, schedule your appointments as such that you can use overnight train to reach and return. When traveling to another city, try and get as many meetings as possible and commute using auto’s (no taxi’s here) autos are equally good as in any case traffic around any city in India is not good and average speed is 30Kms an hour.

If you do not have any relative or friend in a city, try and book youth hostels. They have excellent accommodation and at good rates with good locations.

For outsourcing your work, outsource it to start-ups as they need business and you want good rates. Start-ups are not generally inexperienced companies, they are the product of experienced and visionary professionals, so you can expect good work at less rates.

By: Abhaya

Abhaya — Wed, 10 Sep 2008 04:38:16 +0000

I would say, don’t look for office space as long as you can avoid it. Just work from your home. Saves on the fuel costs also!

Also regarding vendors, after initial shopping around, just stick with one. Relationships are more important than getting the cheapest price.

And I would disagree with delaying the payments. If you are usually on time with payments, you would be able to leverage that much more when the crunch hits you.

By: Devika

Devika — Tue, 09 Sep 2008 17:01:42 +0000

I do agree with Kartik on using Skype…..its very useful!
but sometimes its a pain and you can’t tell if people have accepted your request or not when you try and add them.
The recipient has to be pretty tech savvy as well.

By: Ramjee

Ramjee — Tue, 09 Sep 2008 14:17:39 +0000

It depends on multiple factors. If you travelling from bangalore to chennai or the other way round, a night train is the best option than a morning/night flight. You need to know what is important. What karthik meant is use try cheaper modes of transport where ever possible.

By: Preeti

Preeti — Tue, 09 Sep 2008 13:02:13 +0000

Kartik, Gobind If time is money dont you think both the options .. travelling during the day (wasting working hours) and taking the train (wasting even more hours !!) are bad options?

By: Sujay

Sujay — Tue, 09 Sep 2008 10:55:41 +0000

good one

By: Sumant

Sumant — Tue, 09 Sep 2008 10:06:41 +0000

And one more thing don’t often fall ill, doctor will eat up more money to help you recuperate with medicine outlay.

By: Kartik

Kartik — Tue, 09 Sep 2008 09:42:09 +0000

@Govind, i think you got the point…which is about using cheaper alternatives….in your example the equivalent wouldn’t be to travel in AC sleeper, but maybe even a cheaper class. of course, you need to look at whether from a time perspective you can afford the slower journey etc.

By: Sameer

Sameer — Tue, 09 Sep 2008 08:23:07 +0000

yeah …… but meanwhile also ensure that ur product /service continues to add real value to ur customer

By: Himanshu Sahani

Himanshu Sahani — Tue, 09 Sep 2008 07:36:48 +0000

Negotiate with phone company for a zero rental plan.

Club all phones (including residence phones) in one centrex so that all employees can talk to each other for free.

Call up phone company and ask them for discounts on call usage.

By: Govind Agrawal

Govind Agrawal — Tue, 09 Sep 2008 06:50:02 +0000

Somewhere, i read Don’t be penny wise and pound foolish.

I wonder why somebody would fly in afternoon, to save cash, rather than, he should be traveling Sleeper class in train, to save real cash!

Is air-travel a norm here?

You can reach anywhere by train spending equivalent to expense incurred in to & fro travel from city to airport!

By: Prashant

Prashant — Tue, 09 Sep 2008 05:49:25 +0000

good info…cash is certainly valuable for any entrepreneur specially at early stages