A Miser's Guide to Running a Startup (Pecha Kucha Style)

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+ Bandor Nagy 5 months ago
Good stuff!
Thanks!
+ Keith Ng 5 months ago
Slide #1:
I started SWOOZH LLP as an IT and Web consulting business 3 years ago when I was studying in SMU. Last year, I roped in Damon, my trusted buddy and we started work on our baby project, FAME. FAME is possibly the world’s first virtual stock market that trades anybody as a person stock. If you are interested to learn more about what we do, please do come chat me up later on.

Till date, FAME has secured a capital funding of a little over $100k – which definitely is considered minute for any startup. The topic I am going to present today therefore is my experience starting a company with a shoe tight budget.

Without further ado, allow me to dive right into the presentation

Slide #2:
And so this is what I am going to deliver today: A Miser’s Guide to Running a Startup
Now, I will not teach you how to save on every single cent possible, but instead share some guerilla tactics on cost savings, as well as knowing when NOT to save.
It is important to also note that savings is a function of enhancement of productivity.

Slide #3:
Start your day late. I call this Tip no. 0 because you aren’t even in office yet at this time.
Starting late means you will save on ERP charges, as well as your time when you are stuck in jams.
Your Human Assets (i.e. your staffs) also save on the time on commuting to work. Your colleagues’ time are yours too.
Besides, everyone gets more sleep, and this means more productivity in work.

Slide #4:
Speaking of Productivity, when the time calls for it, allow your human assets to work at home.
They save time on going to work, and you will be surprised how much more productive and extra hours people can
Put in when they work from home.
Again, Productivity = Money

Slide #5:
Get a Mac!
Give the Man a Mac, & He will NOT need IT Support for his life.
Much less virus. Much easier to use. Who needs an IT Department?
Beautiful things make Men more productive too. I need not say more.

Slide #6:
Networking is King.
Knowing more people increases your chance of getting free/cheaper services
Firstly, Free Publicity/Marketing when you meet the Media
You meet fellow startups to do Barter Trading or gives deep discounts
You may get to know a philanthropist who gives away free hardware/hosting

Slide #7:
Learn to Ask!

Poor Service? Ask for Refund
Expensive Service? Ask for Discount
Too Big A Piece? Ask for Smaller
Too Small A Piece? Ask for Bigger

Slide #8:
Some of the best things in life are free!
Licenses of softwares like Antivirus, Office and Photoshop aren’t cheap.
Why not consider OpenOffice, AVG Anti Virus, Gimp OS for Graphics and Zoho for your online accounting software needs?
They may not be as good as the paid-for-solutions, but so far they have been pretty ok for simple needs.

Slide #9:
Go Pfingo. (VOIP)

Why get a physical landline when you can get a virtual one?
Pfingo (no affiliations with Starhub btw) gives you exactly one landline for your calls and fax, and deep discounts when you use it overseas

Slide #10:
Pay Peanuts & You get Monkeys. Cheap things no Good, Good things no cheap. Sometimes, you have to be willing to fork out for certain services or wages. Be overly stingy and you may end up much higher cost in future.

Slide #11:
Equity. Reward your star employee with stakes in the company, and make him a minor shareholder. I guarantee you he will fight for you with his life.

Slide #12:
Consider leveraging on interns. They may come unqualified, low skilled and inexperienced, but they definitely have great attitude, and a willingness to perform. Most importantly, they come at a low cost.

Slide #13:
And so are Student teams. Submit your proposals to schools and request for a Final Year Project team to execute the HR management system idea of yours. This students need an A+. You need a free and great system. A match made in heaven

Slide #14:
Now, if you still are not able to get any human resources after 1 month down the road, I suggest you look at online HR sites. Do NOT pay those recruiters who ask for 1 month salary in return for their recommendation. If you ask me, they are a total rip off. Instead, there are great job sites like JobsCentral. Or even Linkedin or Facebook!

Slide #15:
Get a Beer Fridge and A really nice Coffee Maker. Its much cheaper to buy beer and packet drinks from Supermarkets, and you will save on the time you walk and the money you pay to Starbucks

Slide #16:
Save on Tables. They all have the same in functionality. Instead, project the money towards a comfortable chair. A good chair goes a long way – and Makes one way more Productive

Slide #17:
Meetings Kill Time = Kill Money = Your Employees’ Money are Your Money

Slide #18:
Before I wrap up the presentation, the single takeaway I want to emphasize to everyone is always consider issues in the long run. Do not try to save money in the short term so to compromise on your savings in the long run. And again, always remember that Productivity = Money.

Slide #19:
Stay with your mum.

You save on the rental
You save on your laundry
You save your time cleaning your place
You save on your dinner

Bonus. Your mum keeps you going and encourages you (:

Slide #20:
I hope you enjoyed this presentation. Talk to me at keith [at] swoozh.com (:

And so this is what I am going to deliver today: A Miser’s Guide to Running a StartupNow, I will not teach you how to save on every single cent possible, but instead share some guerilla tactics on cost savings, as well as knowing when NOT to save.It is important to also note that savings is a function of enhancement of productivity.

Start your day late. I call this Tip no. 0 because you aren’t even in office yet at this time. Starting late means you will save on ERP charges, as well as your time when you are stuck in jams.Your Human Assets (i.e. your staffs) also save on the time on commuting to work. Your colleagues’ time are yours too. Besides, everyone gets more sleep, and this means more productivity in work.

Speaking of Productivity, when the time calls for it, allow your human assets to work at home. They save time on going to work, and you will be surprised how much more productive and extra hours people canPut in when they work from home. Again, Productivity = Money

Get a Mac!Give the Man a Mac, & He will NOT need IT Support for his life.Much less virus. Much easier to use. Who needs an IT Department? Beautiful things make Men more productive too. I need not say more.. 

Networking is King.Knowing more people increases your chance of getting free/cheaper servicesFirstly, Free Publicity/Marketing when you meet the MediaYou meet fellow startups to do Barter Trading or gives deep discountsYou may get to know a philanthropist who gives away free hardware/hostingThat is why I am here!

Learn to Ask!Poor Service? Ask for RefundExpensive Service? Ask for DiscountToo Big A Piece? Ask for SmallerToo Small A Piece? Ask for Bigger

Some of the best things in life are free!Licenses of softwares like Antivirus, Office and Photoshop aren’t cheap. Why not consider OpenOffice, AVG Anti Virus, Gimp OS for Graphics and Zoho for your online accounting software needs?They may not be as good as the paid-for-solutions, but so far they have been pretty ok for simple needs.

Go Pfingo.Why get a physical landline when you can get a virtual one? Pfingo (no affiliations with Starhub btw) gives you exactly one landline for your calls and fax, and deep discounts when you use it overseas.

Pay Peanuts & You get Monkeys. Cheap things no Good, Good things no cheap. Sometimes, you have to be willing to fork out for certain services or wages. Be overly stingy and you may end up much higher cost in future.

Paying doesn’t always mean Paying with cash. You can also consider paying with Equity. Reward your star employee with stakes in the company, and make him a minor shareholder. I guarantee you he will fight for you with his life.

Consider leveraging on interns. They may come unqualified, low skilled and inexperienced, but they definitely have great attitude, and a willingness to perform. Most importantly, they come at a low cost.

And so are Student teams. Submit your proposals to schools and request for a Final Year Project team to execute the HR management system idea of yours. This students need an A+. You need a free and great system. A match made in heaven!

Now, if you still are not able to get any human resources after 1 month down the road, I suggest you look at online HR sites. Do NOT pay those recruiters who ask for 1 month salary in return for their recommendation. If you ask me, they are a total rip off. Instead, there are great job sites like JobsCentral. Or even Linkedin or Facebook!

Get a Beer Fridge and A really nice Kopi Maker. Its much cheaper to buy beer and packet drinks from NTUC, and you will save on the time you walk and the money you pay to Starbucks.

Save on Tables. They all have the same in functionality. Instead, project the money towards a comfortable chair. A good chair goes a long way – and Makes one way more Productive

Meetings Kill Time = Kill Money = Your Employees’ Money are Your Money

Before I wrap up the presentation, the single takeaway I want to emphasize to everyone is always consider issues in the long run. Do not try to save money in the short term so to compromise on your savings in the long run. And again, always remember that Productivity = Money.

Stay with your mum.You save on the rentalYou save on your laundryYou save your time cleaning your placeYou save on your dinnerBonus. Your mum keeps you going and encourages you (:

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Eric Swain, Principal Consultant at limenoodle, favorited this 5 months ago
Tags startup
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Nicole Fincham, Marketing Director, Marketing & Social Media Consultant favorited this 5 months ago
Tags startup a running
Keith Ng, Project Manager favorited this 5 months ago
Stone Gao, Software Engineer at Ekohe, favorited this 5 months ago
Tags startup

A Miser's Guide to Running a Startup (Pecha Kucha Style) - Presentation Transcript

A Miser’$ Guide to Running a $tartup
keith@socialico.com
Twitter /Facebbook/ Linkedin: Keizng
Tip #0: Start your day late
Tip #0: Let Em Work From Home
Tip # 1: Get a Mac
Tip # 2: Networking is King
Tip #3: Just Ask!
Tip #4: Embrace Freebies
Tip #5: Go pFingo
Tip # 6: Pay Peanuts, & You get Monkeys.
Tip # 6: … Consider Equity Payment
Tip #7: Interns are Cool
Tip #7: .. And so are Student Teams
Tip #7: When all else fails, Jobscentral
Tip #8: Invest in these…
Tip #9: Cheap Tables .. Expensive Chairs
Tip #10: Meetings are Evil
Think Long Term
Bonus Tip: Live with your mum (;
Voila!
You are now a Certified Miser!