While Success doesn’t come easy for Start ups; most start ups run out of capital or may not have enough investment within few months of early launch. Ambiguity and lack of implementing the cost effective plans are the major reasons behind the early shutdowns.

Bangalore AlphaLab

 So here are few tips that will help start ups to bring the cost down:

1. Cost Effective Infrastructure/Office space: The space that comes with less cost will be an added advantage for the start ups. In other words, co working/shared spaces are boon to start ups that cuts almost overhead involved in business. Start exploring the possibilities by beginning your start up journey with co working space

2. Recruitment: What is your mode of hiring talents for the team? Do you spend on it? Then stop doing it and start posting your requirements in the start up job portals like Bangalore start ups, indeed.co.in, dreamstarts.in etc. to hire the top talents. As an Entrepreneur every dollar you save while doing business allows you to continue doing well in your future endeavors.

3. Shared Human Resources: Co working spaces comprising multiple start ups within them, chances are very high to get the resources within the co-working community. Take an instance where you might have a requirement with the resource for 20 days and the rest 10 days can be effectively made use by the co member of the co working space. Think this works for you? Then go for it

4. House Keeping: The complete property maintenance is our responsibility that includes security, tea, snacks, office maintenance, and power back up. Co working spaces helps start ups to focus on their product development rather than worrying on unconventional aspects.

5. Laptops and Desktops: When you are not actually using the machines why just simply keep them? Some of your co working members may need them for some good time; isn’t it? Make the best use of the laptops and desktops by sharing with your coworkers inside the community and this will definitely get you some money.

6. Recurring Cost: Recurring cost is huge burden to the start ups as the charges are repeating lifetime. You pay for electricity, internet and everything and this pinches you off. What if you have no responsibilities to take care of them? Will that not relieve you? Yes, the co-working space does so much for its members regularly.

7. Hiring Interns: Start ups should plan on paying the resources smartly and if you can get creative, fresh ideas from the interns with less money why not give a try? It’s great money saving idea and brings more productive resource on board.

8. Shared office Resources: Huge investment is definitely not a smart idea for the start ups .An UPS, Printer ,LAN the list continues to grow and being a start up affording for all these is a challenge. Instead select the co working space that can get you all your requirements and this is how you can pull the cost down.

9. Free Administration: You don’t have to spend extra for administration charges when you are part of co working/shared office spaces.

10.Event Costs: Being a start up entrepreneur, it is more likely that people would look for platforms to present their ideas, to get mentors, to learn/share the domain knowledge, to test their product in a smaller domain etc., Each one of these will cost you in one way or the other in terms of Event hosting, Event registration, Event organizing etc., these costs will be saved when you are the one among the vibrant community of start ups.

It is mostly inevitable to spend money faster than it’s coming in during the startup phase, take time to creatively save money .Capital earned to be saved and should be contributed for the expansion of the business in the later stage. It’s a great idea to locate your start ups in the co working communities. What do you think? Do you have some more ideas to share for the startups? Comment your argument below

 

 

 

It’s a happy scene here at Bangalore Alpha Lab with startup teams winning laurels at competitions held in Bangalore. There is nothing to hold them back now with the productivity of each team reaching an all time high.

HackerEarth was one of the first startups to occupy our new shared office space in Koramangala launched a month ago. The group looked fresh and excited, full of youthful energy.

Just a few days later we hear the great news of the team winning the first prize at theSeedStarsWorld, India challenge! “Seedstars World is the most exclusive startup competition around the world and team HackerEarth was crowned with the prestigious denomination Seedstars World Best Startup“. Now that’s some news!


However, our winning stories don’t end here, infact just start here.

Recently one evening at our coworking space in Bangalore Alpha Lab while we all went about doing our usual tasks, a sudden air of thrill and excitement filled the air. The winners were back home! Team SignEasy had won the first runners up prize of $2000 at the Microsoft’s BizSpark India Startup Challenge 2013.
They held the big prize with pride while we all gathered around congratulating them and clicking pictures.

The focus of the Bizspark Startup Challenge this year was to identify and promote startups with products focusing in Cloud Computing and Mobility. For the first time it was being held in 10 cities across the country, the prizes offered to the finalists were worth 70K cash and 2 million dollars in non-cash prizes.

The team was excited to participate and thought it was a good opportunity to get to know key people at Microsoft to explore and accelerate mutual business opportunities too! Way to go!

 

Coworkers winning awards sets a positive note for other coworking startups to get inspired. The community celebrates the victory and feels motivated to achieve further. It also brings home the feeling that the shore is not too far away…

Bangalore Alpha Lab is one of the fastest growing coworking space in India. Housing more than 30 startups and growing everyday, Bangalore Alpha Lab creates a simple and conducive environment to launch your startup dream. If you are looking for a coworking space in Bangalore, Alpha Lab is your one stop destination.

The core idea of a Coworking community is truly met if the community keeps itself fun and vibrant.It is all about being a part of a community that can provide your business with the right energy that it needs. Coworking communities are such a unique blend of people who can nurture your ideas to grow and bloom.

However one cannot expect that the community culture can truly benefit you and your business by just sitting silently on your seat and waiting for your fellow workers to approach you! You can keep few things in mind in order to keep you and your community bright and vibrant.

1)    Be honest with yourself! Admit if you need help.

Most coworking communities are a bundle of talented, skillful and organized people. When new to the group you might get a bit intimidated by all the excellence around and try really hard to put up a brave face. Instead, be open about your weaknesses and don’t hesitate in asking for help whenever required. The wealth of knowledge your community contains is there for you to take advantage of.

2)    Don’t forget to greet your neighbor

 A day begins with new task lists, new emails to attend to and it might be tempting to immediately get plugged in to work. A community would not grow and build unless members take a minute or two in the morning to say a genuine good morning. Ask your neighbor what he or she will be working on and the challenges you plan to tackle that day. It will not only set a positive tone for the entire day but will also help build a relationship for the future.

3)    Do not seclude yourself from the fun

 There is no doubt about the fact that the primary reason why anybody joins a coworking space is to increase productivity. However this does not mean that you should become oblivious to the activities going around the space. Be involved in the activities happening around, laugh at a joke your fellow worker just cracked and try being a part of the fun. It would not only de-stress you and help you produce better results.