Stretching Money: A Scrooge's Guide to Startups

Smart Strategies to Stretch Every Rupee in Your Startup Journey

At every stage of a startup’s journey, there’s always a temptation to chase the next shiny thing—something that seems absolutely necessary at the moment. However, without enough research, this often leads to unnecessary expenses.

From my own experience, I’ve learned that being frugal in the early days isn’t about being cheap—it’s about being smart. Here are a few practical ways entrepreneurs can stretch their money without compromising on quality.

1. Registering for Startup India (Without Paying ‘Consultants’)

Startup India is an incredible initiative by the Government of India that provides several financial and tax benefits to entrepreneurs.

✅ Financial Benefits:

• 80% rebate on patent filing fees

• 50% rebate on trademark fees

• Access to funds via Alternate Investment Funds

• Credit guarantee for loans

✅ Tax Benefits:

• 3 years of income tax exemption

• Capital gains tax exemptions

Once I registered my startup, I was flooded with calls and emails from ‘consultants’ offering paid services to secure the certification. However, the DPIIT portal and National Single Window System make the process straightforward if you understand your business and its innovation.

While setting up the digital signature took a few days, once I submitted the application, approval came in 2 minutes—at zero cost!

💡 Lesson: Government processes aren’t always painful. Sometimes, they’re just misunderstood. Do your research, and don’t fall for middlemen if you can DIY.

2. AI as Your Unpaid Employee

In the early days, startups need to handle everything—from naming the business to building a website, creating marketing materials, and crafting investor decks. Hiring experts for every task can burn cash fast.

That’s where AI becomes a game-changer. I used:

· ChatGPT & Co-Pilot – For brainstorming, refining content, and editing application

· Canva – For design and marketing collateral

· GoDaddy – Website building, you could also look at wix and bubble.io 

Pros:

✅ Helps when you’re stuck on ideas ✅ Provides royalty-free images ✅ Great for precise editing (e.g., Startup India registration required 500-character descriptions—AI made this easy!)

Cons:

❌ Presentation generators often produced rigid slides with hardcoded images—editing took more time than starting from scratch ❌ Some AI-generated content was too elaborate and needed manual rewording

💡 Lesson: AI can handle a lot, but not everything. Use it as a first step before investing in professional services.