There are many different resources out there which can give you ideas on how to run a lean startup.
I came across an article on Under30CEO.com that had some great tips. I wanted to share a few of them here.
(Link to the full article below)
Definitely read the whole article, but even just with these points you can find many ways to not only reduce cost, but increase productivity and income.
Q. What’s one tip you have for keeping startup costs under control in the early stage of a new company?
A. Hire People With Scrappy Attitudes
Bring on employees that have a high risk tolerance and are committed to keeping down costs. You need people that are willing to take lower salaries because they see the upside of getting a lot of equity in the company. All employees also need to be resourceful in stretching available resources.
Ben Rubenstein, Yodle
A. Leave Room for Flex
Most startups only look at how much their variable costs affect profits, and many business owners forget to factor in all the little things that really add up and make their business lose money, such as office supplies, Internet fees, website maintenance, etc. If entrepreneurs set a flex budget for their miscellaneous costs, then they leave room for error, like running out of pens and notepads!
Danny Wong, Blank Label Group, Inc.
A. Find Income ASAP
Conventional wisdom is that if you’re building a great product, you can wait to eventually monetize. Don’t believe it. If you can get an income source in place — even if it’s only offering a service to set up your software for bigger customers — it’s infinitely easier to run your startup. That income source may be a limited-time offer, but if you can put something out there, do it now.
Thursday Bram, Hyper Modern Consulting
http://under30ceo.com/14-ways-to-keep-your-startups-costs-down/
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