I was just reading an article by Gwen Moran on Entrepreneur.com about 7 Tips for Frugal Startups. It’s a good article but the best tip for technology start-ups isn’t listed. The best tip is applying to become part of the eHub Nspire Program, to receive free rent and office furnishings for one year, access to multiple conference rooms, a professional office address, all of which give you the image of a much larger company while just getting started.
Additionally there is the potential to win the $25,000 eHub Founder’s Grant, just as current Nspire companies JBOD and 8BIT have done already this year. Here’s 7 Frugal Tips from Millionaire Entrepreneurs, they’re all good but not as good as the Gwinnett Innovation Park – eHub Nspire tip I just shared.
7 Frugal Startup Tips from Millionaire Entrepreneurs BY GWEN MORAN
You don’t win in business by wasting money. Even the most successful entrepreneurs pinched pennies in the early days–and many still do. Here, several multimillionaires share their best cost-cutting tips when you’re trying to get your startup off the ground.
1. Cash in credit card rewards. Before the success of the George Forman grill super-charged sales at his direct-response television marketing firm, Rick Cesari became resourceful in using his credit card points to buy event tickets or thank high-performing employees by sending them on weekend getaways. Today, the founder of Seattle, Wash.-based Cesari Direct, charges between $125,000 to $200,000 on an Alaska Airlines Visa Signature card, and still uses the rewards to save several thousand dollars each year on employee perks at his $5 million company.
2. Skip the fancy furniture. “I didn’t buy new furniture for the first six years I was in business,” says Brett D. Reizen, CEO of Entertainment Benefits Group, LLC, Aventura, Florida, a $100 million provider of travel and entertainment services. Of course, you can start by checking out local used furniture shops or search on Craigslist. There are also furniture rental services like CORT, which can reduce the upfront cash you need to outfit your office. It also sells that rental furniture at deep discounts when clients are done with it. Find more online at CubeClerk, an office furniture marketplace. (Just join the Nspire Program and the furniture is included with the free rent)