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.

These days’ Coworking Spaces are increasing across the country & especially in cities like Bangalore, Chennai & Delhi. While many have found & accepted the concept with open arms and operating their startup from Coworking space, Still some startups are pondering over whether it’s a good move to shift their startup from a homely environment /Garage to a vibrant coworking environment.

On similar line, Bangalore Alpha Lab has taken first step of establishing a Community based Coworking Space to create the startup support system & be the launch pad for early stage startups. Operating from Bangalore, It has taken care of the all-intricate aspects that a startup would strive to have at the bootstrapping stage.

 

Shared Office Space
Bangalore Alpha Lab – Community Based Coworking Space

 

BAL conducted a Survey among Entrepreneurs about
What is the “most” u look for in a co-working space?” with options
 a) Vibrant Community b) Fun & Working c) Mentors & Mentorship d) Tech meet ups.

Can you Imagine which option would have emerged as their favorite?

No prize for guessing, it’s the option A, the Vibrant Community which received 65% response. With 20% of responses, the option B, the Fun & Working sits at second place of choice list of Startup entrepreneurs. Startup entrepreneurs look for vibrant community in coworking space instead of just of just desks and tables and conference rooms. Running a startup requires ability to handle ups and downs and having a great community besides them is a definite support system that the startup can look forward for.

Ironically Bangalore Alpha Lab has put an outstanding effort to make the coworking space a vibrant one which not only being commended by all BAL Members but also experienced in their day to day work life. If I have to instantiate the vibrancy of BAL then I must say the weekly the fun @ work connects & tech events are conducted on regular basis. Each event is conducted with the effort & intention to infuse positive vibe at work Place. You can catch the glimpse of all the events & recent happening at BAL’s Facebook page.

BAL as a Coworking space conceptualized with the idea that the startup has to have a dynamic, positive vibe & enthusiast work environment. BAL has all the ingredients that a startup would need at initial stage of operating both from cultural, work environment  & amenities perspective. We create tons of fun connects and events for the BAL startups and members.  Support services like shared resources, recruitment support, infrastructure & online marketing, resident & visiting mentors, startup kits are nice additional add-ons.

 

When you come to BAL, you just need to focus on your product and getting customers, not anything else

Please visit www.bangalorealphalab.in  & BAL’s active up-to-hour Facebook page and do not forget to share your opinions & suggestions.

Check some of our recent moments captured in pic:

AWS Event At Bangalore Alpha Lab
AWS Event At Bangalore Alpha Lab

Fun Game at BAL

Relaxed Working At Bangalore Alpha Lab
Relaxed Working At Bangalore Alpha Lab