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5 easy ways how your start-up can save money

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By NewGram Staff Writer

To overcome the challenge of high costs and scarcity of funds, many young companies have come up with innovative ways to cut down costs. With strategies ranging from buying used furniture to sharing an office space, a lot of  start-ups have been able to control the outflow of money.

Speaking to some of these innovative start-ups, NewsGram has come with up with a list of best practices that can help you reduce the expenses of your company manifold:

Avoid a posh office locality: A lot of new start-ups these days are coming up in residential areas where the costs are lower as compared to prime office locations.

“Starting-up in a residential area can get you a cheap work place with a serene and calm atmosphere. And if you can manage to find a place with a terrace, it is a great advantage,” says OnlinePrasad founder Goonjan Mall.

Also, sharing office space with another young company is a great way to cut costs.

Hire interns from premier institutes for R&D: Starting-up involves getting many things wrong before getting that one big break. Young companies can save on the research costs by hiring quality interns from institutes like IITs and BITS Pilani like a Mumbai-based retail technology start-up Shopsense does.

Shopsense hires interns to work on the research problems which they want to focus upon. If anything clicks they take it to the full scale level.

“This approach helps save a lot of money on R&D as it saves time of our full time engineers and also gets quality work done at a lesser expense,” says Harsh Shah one of the co-founders of Shopsense.

He also adds, “One more advantage of this program is that it helps us to zero-in on the right talent. If an intern is good, we can hire them once they complete their formal studies.”

Find attractive Cloud platforms:  The Cloud has made life very easy for start-ups. Companies like Amazon, Microsoft, IBM offer storage space for start-ups to host their products.

“One of the most commonly used cloud platform in the start-up fraternity is AWS,” says Harsh, adding that,” It is a very attractive option because it offers free credits, along with technical training programmes.”

Easy marketing:  One of the most efficient ways to reach out to people is via social media.  You can use social media to market your company. It is almost free and in today’s time, highly effective.

“The opportunities that Twitter and Facebook provide are phenomenal. One can also use platforms like Mailchimp if you want your content to outreach the masses”, says Goonjan.

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Google Gave Notice of it’s First Private Transatlantic Subsea Cable Project

Google picked undersea communications technology firm TE SubCom to design, manufacture and lay the cable for Dunant

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Google to close Google+ social networking site. Pixabay

 In line with its global Cloud infrastructure expansion plans, Google has revealed its first private transAtlantic subsea cable project designed to bring high-bandwidth, low-latency and highly secure Cloud connections between the US and Europe.

Named Dunant, after Henri Dunant, the first Nobel Peace Prize winner and founder of the Red Cross, the cable is expected to become available in late 2020, Google’s Strategic Negotiator Jayne Stowell wrote in a blog post on Tuesday.

Google picked undersea communications technology firm TE SubCom to design, manufacture and lay the cable for Dunant.

“This cable crosses the Atlantic Ocean from Virginia Beach in the US to the French Atlantic coast, and will expand our network – already the world’s largest — to help us better serve our users and customers,” Stowell said.

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Google unveils first private subsea cable project. Pixabay

Google earlier became the first major non-telecom company to build a private intercontinental cable with its investment in the Curie cable.

“Cables are often built to serve a very specific route. When we build privately, we can choose this route based on what will provide the lowest latency for the largest segment of customers,” Stowell said while offering the rationale behind the decision to build Dunant privately.

Also Read-Google Rolls out ‘Morse Code’ Support on Gboard for iOS

“In this case, we wanted connectivity across the Atlantic that was close to certain data centres, but the reasons could also include the ability to land in certain countries, or to connect two places that were previously underserved, such as was the case with Curie,” Stowell added.

Google also took into consideration factors such as capacity and bandwidth for the decision. (IANS)

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