Keeping costs down in the first year or two of operations is crucial for any new start up. Since new businesses typically have small revenue streams, they need to stay lean, especially in the first year or two of operations. This is why having a ‘virtual office’ can go a long way in keeping administration costs down. What do I mean by a virtual office? It means essentially outsourcing all functions of an office from the phone number to the civic address to where you hold your business meetings. Read more »