Business

10 Essential Startup Expenses, and 10 You Should Avoid

In this Thursday, Nov. 27, 2014, photo, a woman pays for merchandise at a Kohl's department store in Sherwood, Ark. Relying on credit for holiday shopping without a plan to pay off the debt quickly can easily cost you more in the long run. (AP Photo/Danny Johnston)
In this Thursday, Nov. 27, 2014, photo, a woman pays for merchandise at a Kohl’s department store in Sherwood, Ark. (AP Photo/Danny Johnston)

 

(Fortune) – It’s no secret that startups often fall into the trap of spending money on things that aren’t that important — it’s just one of the many mistakes that entrepreneurs can make.

However, the fact that some expenses are unnecessary doesn’t mean that you need to be a cheapskate whenever you encounter a potential cost. In fact, some expenses are absolutely necessary, and as an entrepreneur, it’s essential that you know the difference.

Here’s a list of 10 things that you absolutely must spend money on, followed by 10 things you definitely shouldn’t:

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