CEO and Founder of Kruze Consulting
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Every startup spends >80% of their money on 3 things: Payroll, Rent, and Contractors. If you can save money there, you’ll hack your burn rate. Anything other than these three things is a waste of your time, eg saving $250 month by moving from Anna’s Janitorial to Martha’s Janitorial. Please don’t analyze anything else if you’re trying to save money. To review:
Little known startup burn hack: A recent new tax law allows many unprofitable startups to reduce their burn (by slashing their payroll taxes!) - up to $250K per year! Use this calculator to estimate how much you could cut your burn with an R&D tax credit study. That’s a legit hack to cut your startup’s burn!
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