While Most Big Firms are Returning to Office, My Friend Saved $1M by Going All Remote

My friend Alex (pseudonym) is the type of guy whose heart beats to the rhythm of software codes. Before the COVID storm hit the world, he started his own company in 2018. We all knew Alex would do something big, but we never thought there was an entrepreneur inside him all along. So, Alex had no idea how to run a business, left his job, spent all his time, energy, and savings on his new company, and took some loans from here, and that was pretty much it. In the second year, his business seemed to do pretty well. He was getting new gigs and making decent money, but as his company grew, so was the cost. Everything he was earning went directly into making the company bigger. At the end of the second year, the team of 20 people was working and having fun in a 5000-square-feet office space. In business terms, his company was still in an embryonic phase. But the bone in the throat of this phase is cost. At the end of 2019, a 2-month electric bill was due. Alex had 2 options. Either a layoff or seeking financial help. Both had severe consequences to the point that it would be cutting his own grave. Then… there came COVID-19, making thousands of other companies, including his, go online. Even though his business didn’t do well during the period, it was a huge relief considering the cost-cutting. To that date, he and his team never returned to the office. From mid-2022 to mid-2023, he saved $1M from this “remote” situation. How? You will find it in this article…