Effective management of startup costs is essential for the sustainability of your business. Here are some tips:
Create a detailed business plan that outlines all expected expenses and revenue streams. Regularly monitor and review your expenses to ensure they are in line with your budget. Prioritize spending on essential items first and defer non-essential expenses. Look for ways to cut costs, such as negotiating better terms with suppliers or opting for shared office spaces. Keep an accurate record of all transactions to track your financial health.