The startup journey is never easy and lack of funds is the toughest challenge that new entrepreneurs have to face. The first problem they come across is about establishing an office with limited funds. However, this is something they absolutely have to do because the office is where they would operate from. If you are planning to set up an office for your startup, you need to take a smart and money-saving approach. Here is some expert advice that can help.
Look for an affordable rental space
The first thing that you need for establishing your startup’s office is space. The best thing to do is to look for an affordable rental space in a commercial area. You can even explore the idea of operating out of a co-working space instead of an independent rental. Besides the rent, consider factors such as accessibility of location because you would not want the clients to miss your place just because your location is not feasible. One useful software you can use to, for example, quickly figure out which area is most feasible in terms of access for your clients is a mapping software called Maptive. You can use the Proximity and map radius tool to input location data and draw a radius a circle in miles or kilometers around public transports like trains and buses from your locations to determine if your office is easily accessible by public transport.
Prepare a list of essentials
Once you have zeroed in on an office location, draw up a list of essentials for making your workplace functional. To start with, you will require furniture for your employees and prospective clients. Further, you will need the essentials like computers, printers, photocopiers and more depending on your business needs. Be sure to start with the minimal equipment that suffices your needs and fits in your budget.
Explore deals for buying equipment
The next obvious step would be to look for deals on the equipment you have in your wish list. First things first, look for the right place to buy. Reputable retailers such as Staples stores, make a good option as you get the entire office equipment under one roof. You can even find Staples weekly flyers and coupons online to get a hefty discount on shopping. Using promo codes is a great idea for startups that need to fulfill their needs without spending a fortune.
Stay within your budget
Budget matters the most for a startup and you should make sure that you stay within its constraints. Have it listed on paper right from the start so that you have a tangible figure to follow. You can even allocate the parts of your budgets for specific requirements. For example, you can reserve a quarter for the furniture, another quarter for workstations, and so on.
Be flexible and watch the market
Flexibility is the name of the game for new businesses as you may miss on great stuff just because you are rigid. While you should stick to the startup essentials, watch the market to see the latest trends and be ready to embrace anything that sounds innovative and lucrative. Even if you need to spend a little extra, do it because it will be a long-term investment. Just make sure that you weigh the costs and benefits before buying anything that is innovative but crosses your budget constraints.
As a new entrepreneur, you need to be extra smart and thoughtful while establishing your office setup. Following these tips and guidelines can definitely help you to a great extent.
Author Bio: Andrew is our writing star and runner up at the Entrepreneurs’ Summit in 2015. Since then, he has been helping Outreach Monks, educate their customers and readers with the insights of a successful business plan.
