Running a startup is expensive; every entrepreneur already knows that. But what most do not know is there are ways to make it much, much less expensive. For example, instead of spending around $300k USD to hire a team of developers and programmers in Zurich or San Francisco, you can hire a team in places like Manila (in the Philippines) or Mumbai (in India) and spend only around $50k USD in salary. Here is the infographic on the cost of running a startup:
(click on the image for full view)
infographic via staff.com
Other ways of keeping your startup lean include outsourcing non-core business functions like human resources and accounting/bookkeeping, leaving only core and critical functions like product development inhouse. Another method is eschewing office space by telecommuting and eschewing expensive licensed enterprise software for free or inexpensive SaaS.
Lastly, choose the best country to base your startup.