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Ullekh Niraula

What is the best strategy to reduce your Startup's operating expenses?

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By now, it’s becoming clear that the economic disruption caused by COVID-19 is unlikely to vanish anytime soon. What strategies are you using to lower your monthly operation costs, but still getting things done to thrive?
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Iain Cambridge
If you're a web startup, one of the biggest savings you could get is switching to dedicated hosting from cloud hosting. 49 Euros for resources that it would cost you 600+ euros on digital ocean.
Ullekh Niraula
@that_guy_iain Is it yearly price?
Iain Cambridge
@that_guy_iain @ullekhniraula Monthly. It all depends on how much you're spending on hosting. If you're hosting is 30 euros a month on a cloud provider, it generally makes little sense to switch to a dedicated provider. But if you're spending even as little 100-300 euros a month then the savings a dedicated server provider can bring a worth it. You can also go all the way down to a dedicated server for 5 euros. Some providers I would check out are kimsufi.com and hetzner.de
Victor Burke
I think a culture of "Is that really needed?" is a good way of focusing a team on spending. Unless something is bringing real value at an early stage it may be best to try and 'do it yourself'.
Ullekh Niraula
@victor_burke That makes sense. Thanks for the comment.
J. Mendez
Good question. I'd love to hear what other people have to say. Personally, I take yearly payments of my must use services. Normally there is a smal discount if you pay on a yearly basis. In addition, I'm using a serverless architecture on AWS, very low cost so far.
Ullekh Niraula
@jimdtwitt Thanks for the suggestion. I am afraid to pay for a whole year sometimes.
Hailey Friedman
Increase your customer LTV!
Ullekh Niraula
@hailey_friedman1 How can i do that?
Chetan Bhati
Reorganize the salaries temporarily in a way which is affordable by the employee and also provides temporary relief to the company. Offer either interest on the postponed % of salaries or equity of the equivalent amount to the employees who are willing to accept delays. Maybe you can also offer to cover for any interest on personal loans an employee takes for the next few months if they have agreed to a receive a % of salaries at a later date.
Ullekh Niraula
@desire_fulfillment Thanks for the suggestion.
Uvictor
I am solo developer so basically do things yourself even if paying may be quicker...bcoz you will learn something ....getting harder though..
Rohit philip
If you are web startup - the following are the stuff will help you to cut cost. 1. Go completely remote – Cancel all your lease 2. Move from expensive cloud server like AWS (Good options are available in the market – try Linode / Digital Ocean or buy dedicated VPS) 3. Evaluated your other SAAS product you pay every month. Try to into the data and make call to renew their services. 4. Talk with your team on the current financial status of the company. More ideas will come from internal team.
Hughes D
I use Moona payment method. No transaction fees.
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