In the earliest stages, startups should avoid spending money unless absolutely necessary, focusing only on essential expenses like a laptop and a place to live.

As you hire more people, your expenses will increase beyond just salaries, so it's important to anticipate these changes. An employee's total cost to a startup can be 25% to 50% more than their salary, so if you pay an engineer $100,000, the fully loaded cost could be between $125,000 and $150,000.

Startups often underestimate their expenses, especially in the early days when founders may undervalue their own time and efforts.

When searching for an accountant, consider recommendations from those familiar with startups, as they understand the unique challenges involved.

Every startup has essential tasks that need to be accomplished, which are not related to coding, such as incorporation, payroll, and customer communication.

Many of the best startup ideas emerge in boring spaces, such as tax accounting software, which may not initially excite founders but can turn into successful businesses over time.

As a startup grows, it's crucial to monitor revenue per employee, ensuring that this number increases over time to avoid over-hiring and inefficiency.

When startups raise funds, they often mistakenly assume they need to spend a set amount each month, which can lead to unnecessary expenses instead of focusing on lean operations.

Utilize a payroll service provider to handle employee payments and compliance, allowing you to focus on your startup's core activities.