Innovation + Growth

Deciding which startups are worth investing in is hardly an exact science but business owners who have experience, know their competition, and are familiar with the market are more likely to have a startup that is at least worth considering.

New companies don't necessarily have millions of dollars in the bank or the backing of a large investor to ensure that it has the money needed to operate at a loss. In many cases, startups are funded with little more than what their owners have in the bank. Therefore, it is important that you understand what lean methodology is and how it can help your business survive long enough to eventually turn a profit. Identify Waste There are many different ways in which a company could be wasting money such as paying employees too much or hiring employees instead of freelancers. Chamberland Business Accounting says it may also be a bad idea for startups to lease an office building or otherwise pay for space that they don't need at the moment. Consolidating or otherwise refinancing corporate debt could save an organization hundreds of dollars per month or more. Eliminating waste…