Life can be hard when starting a business without drawing any external financial support. The good thing is that bootstrapping helps future entrepreneurs manage their early operations more efficiently. With the perfect startup toolkit, operating costs may decline without compromising quality as a new business gains momentum.
There are various practical resources that a startup on a tight budget can leverage as explained below:
Most successful businesses result from of a gradual thought process. That involves brilliant ideas and imagination coming up at different times. However, even the most realistic concept may never materialize without tracking it as it springs up in the founder’s mind. A good solution is, therefore, Elevatr— a tool that an innovator can use to record and organize their business ideas.
Anyone on a shoestring budget will struggle to assemble a competent and satisfied workforce in line with the relevant labour regulations. This problem can go away when a founder uses an online tool like Upwork. The platform provides access to an extensive pool of affordable, freelancing talent that a startup can exploit. It also enables a new company to legally avoid dealing with costly regulatory obligations, such as employee benefits and taxes.
Basecamp provides a fully-fledged virtual work environment. A new venture can utilize the system to enhance collaboration and reporting among junior personnel, supervisors, and even customers. It helps improve workflow visibility, enabling people to track pending tasks, from assignment to completion. With the tool, a new enterprise saves both time and the cost of building its virtual office.
Dropbox comes to the rescue when a company needs affordable storage for large chunks of data. It’s a cloud-based solution that can store data in different formats, from documents to multimedia. Besides, the resource provides for the sharing of information and objects, enhancing collaboration among business partners and employees.
Statista is a cost-effective way to avoid the high costs of conducting market research. It suits founders who wish to learn more about the viability of their idea or product. When successful business launch depends on access to up-to-date market statistics and industry insights, this tool helps a lot.
For many new companies, creating a lean startup is essential due to financial constraints. If you are bootstrapping your company then you should avail of these free or relatively low cost solutions to keep your operating costs down while your company builds up its financial muscle.
Our FREE Startup Resources bundle contains productivity templates, time trackers and social media analytics templates.