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

My suggestion would be to thoroughly look through your expenses- write down everything for at least the past few months. Group them by essential, useful but can reduce/ survive without them, and extra. Here, you might find the little things that you don't even realize that you are spending money on. From there, see if there are either any promotions for discounts or a cheaper version of your current expenses (think of calling your phone company for a cheaper rate), or parallel products/ services that you can use for cheaper. (Other things would be to check out any bank costs you're paying, what purchasing platform you're on, even things like what lightbulbs you're using if you have a physical space.) Like someone else said, anything you can currently do by yourself, absolutely do that. BUT, in the long -and short- run, if you can't do it yourself, find the highest quality for as cheap as you can. A poorly done task will eat up both your time and money fixing it up down the road. I hope these suggestions help or at least give you something to think about!:)

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.

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'.

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.

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.

I am solo developer so basically do things yourself even if paying may be quicker...bcoz you will learn something ....getting harder though..

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.

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