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5 WAYS OUR LEAN STARTUP ECOSYSTEM SAVES ENTREPRENEURS

January 18, 2022by admin0

A Lean Startup Ecosystem, lets an entrepreneur come up with an idea and start a business! It’s that special place where you get to work on what you love without distractions.

Here, lean doesn’t mean cheap. But it means smart, prioritized and focused. Primarily, a Lean Startup Ecosystem should complement a business’ strength and supplement its weakness. And find owners opportunities that other startups seldom recognize.

We understand that early stages of any startup are a make or break situation. That is why a startup needs to institute process or policies that keep the operational cost as low as possible. A lean startup ecosystem helps entrepreneurs to achieve this until they are ready for their big takeoff.

Eric Ries the creator of Lean Startup methodology encourages Startups to ask these questions.

“Should this product be built?” and

“Can a sustainable business be built around this set of products and services?”

To see order amidst chaos and add value to your Startup. Entrepreneurs should ideally focus on smart goals. Such as coming up with a Minimum Viable Product/ Service. Or focusing on improving the business process. This activity requires a lot of time to imagine, iterate and improve.

To achieve this, the promoter must be asking these questions to all stakeholders.

Where does our strength lie?

Which aspect of the business should we invest our maximum time in?

How do we make sure that quality time is spent on most vital aspects of our business?

Should we get things outsourced?

A Startup would be naturally centered on a core offering. Because most of its people would be experts in that field. That’s why; Lean Startup Ecosystem should deliver a canopy of support and guidance services, such as

Legal and Compliances Services

A Startup has to meet various statutory requirements and compliances.

Firstly, businesses need to decide on the legal form of business i.e. (One Person CompanyLimited Liability Partnership or Private Limited Company). This decision is vital to the success of any business. That is why entrepreneurs must do their research and weigh out their options. Then, find an expert to make these decisions confusion free.These are some post-registration norms and compliances that need to be fulfilled:

These are some post-registration norms and compliances that need to be fulfilled:

Getting a Company’s Permanent Account Number

Opening a Current Account

Service Tax Registration or TIN registration

Other compliances

Compliances that every Limited Liability Partnership or Private Company should abide by after registration:

Accounting and Finance

Tax filings

Patent and Trademark registration

Legalsyne’s tailored services will make these initiatives easy to achieve.

Secretarial Services

Legalsyne provides a secretary every time you need one. We help you to adhere to the laws and regulations, compliances and filing requirements, such as.

Formation of a company

Maintenance of all statutory registers

Preparing and submitting of annual returns of the business

Attending the preparation of minutes

Attending the drafting of resolutions for Board and General Meeting

We take care of all the regulatory compliance so that you can have a peaceful mind.

Finance and Accounting Services

Strict accounting and financial standards are something every growing Startup finds tough to comply with. Below are some reporting requirements every growing business should fulfill.

Bookkeeping and accounting

Preparing quarterly and annual financial statements, budgets etc.

Making transactions comply with tax and regulatory norms

Auditing and support services

Statutory tax filings

It would be pretty hard for Startups to get their head around these complex legal compliances. Legalsyne understands these needs and our experts can help get these tasks done fast.

HR and Placement Services

Startups do spend a lot of time on getting the right talent. Timely access to affordable talent pool is the greatest HR roadblock a Startup must overcome.

Most of the time talent hunting works perfectly well on referral. But, as the business grows Startups get help from HR consultants. But they don’t often understand or fulfill specific requirements of Startups.

Expanding their team is always a headache for Startups. Because owners need to put a lot of effort to find people that fit their requirements.

Legalsyne understands human resources requirements of a Startup. That is why we created tailored HR service, portfolio placement, and payroll services that are appropriate for your needs.

Marketing Services

Marketing and positioning offerings globally have always been a problem area for Indian Startups.

Startups haven’t got a hang of branding yet. Branding is an activity which starts with a Startup incorporation. This requires unrelenting commitment, consistency, and remarkability in offerings. Quality marketing processes and strategic initiatives need to go hand in hand to improve marketing ‘ROI’.

This is why, verified email lists, optimized email messages, template designs and subject lines, an agile social media outreach and sales process management etc. becomes very important in this scenario.

You’d need an agile and cutting edge marketing program managed by experts, to achieve your goals faster. That’s where Legalsyne experience comes in.

Cowork Spaces

Every early stage Startup finds it hard to narrow down on an affordable workspace. Warm and contemporary co-working spaces kick starts creativity. But many promoters run behind real estate agents, brokers or they personally check office spaces. This leads to a decline in the productivity of the business.

This is why, Cowork spaces should be part of any Lean Startup Ecosystem.

Legalsyne Cowork Space with proximity to city center, transport hubs, fast net connectivity and uninterrupted power is a blessing to any Startup.

Virtual Offices

Setting up the business getting work space is simply now. Legalsyne Virtual 0ffices is the only place in Bangalore where you get a virtual office address in a prime location.

We support entrepreneurs by delivering services such as mail divert services, fax forwarding. Our experts also provide you tailored answering services and custom mailboxes.

Smart Startups would leave it to experts after clearly stating their business goals. This is the lean way of getting work done painlessly, fast and effectively.

So, what do you think?

For a more detailed walkthrough, click the here contact us.

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Legalsyne Headquarters
#179/2, GVR Ikon, 10th A Main Road, Double Road, Indiranagar 2nd Stage, Bengaluru-560038
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Legalsyne Headquarters
#179/2, GVR Ikon, 10th A Main Road, Double Road, Indiranagar 2nd Stage, Bengaluru-560038
Our locationsWhere to find us?

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Copyright by Legalsyne . All rights reserved.

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