Cash saving ideas (Part 1)
May 18, 2011 § Leave a comment
I asked this question to a range of entrepreneurial Scottish businesses – these are some of the answers. Thanks to all the contributors.
Brian Hughes Halferty – Kiltr.com
- Try to negotiate fixed monthly prices for legal and accounting fees, they can easily catch you by surprise and always get a second quote at the very least
- If you’re at the seed stage and people like your idea, try to negotiate a sweat equity deal over the long-term
Hugh Ilyine, DestiNA Genomics
- Finding and working with really effective service suppliers
- Support from Scottish Enterprise through their Business Support service for High Growth Start-Ups
Donald Cameron – EQSN
- Good sales qualification.
- Webex to demonstrate and prequalify opportunities
Alexander Cole – Peekabu Studios
- Judicious use of the right software can save you a bundle, especially on starting finances. Get some advice, definitely, but you’ll be surprised how much of your financial projections you already know.
- Never work for free – doing speculative work can be a huge drain on time and cost you big time in lost work if it goes sour. If it’s worth it to a client or investor to see some real work on the table, then it’s worth being paid for.
Billy Stenhouse – Baguette Express
- Make suppliers phone you.
- Check you are getting the best rates from your bank and never accept they give you the best terms, be prepared to change.