Determining your startup costs can be complex. There are many variables to think about and in some cases, the best you can do is to make educated guesses. But the more accurate you can be in estimating your costs, the more likely you are to fund your startup appropriately, and therefore be poised for success. [...]
Last week, I went over the first five sections crucial to a financial plan. The next four sections are just as important and include fundamental information you will need to present when you meet with potential investors. Remember a financial plan is necessary when you want to attract outside funding but it is also an adaptable [...]
The Financial Plan section is a critical component of the business plan. Having a thorough financial plan will help you determine how much money you will need to turn your idea into a business and serve as a budget once it’s launched. If you aren’t experienced with creating budgets or using spreadsheets, it will be [...]
Imagine this: you’re sitting across a conference table pitching to an angel investor. They’ve got the financial resources you need and you’re one decision away from either making or breaking your startup idea. Wouldn’t it be helpful if you could understand exactly what your investor is looking for, what they would find as an attractive [...]
Many will tell you that it’s difficult to secure funding from a bank but I decided to do some research to find out how common it really is for early stage startups to get a loan. To my surprise (and maybe to yours), I found out that more startups were resorting to getting a bank [...]
What do you do when your money runs out? Where can you go for funding? Will you be able to raise enough capital to get you where you need to go? How fast will it take to raise the cash, and will you be able to do so before your funds dwindle? When starting a business you [...]
…at least not right away. Many aspiring business owners often think of a great idea, then immediately focus all their energy into looking for funding. This is the wrong move. While funding is a CRITICAL step in launching any new business, it’s not the first thing you should consider when you startup. I’m a corporate [...]
With Facebook’s valuation at about $80 billion, you might be wondering how you can get in on this action. Maybe you’re ready to tap into the world of entrepreneurship to create or partake in the next billion-dollar idea. So, what exactly does it take to get to this level? There isn’t an exact formula, and the chances of ever [...]
Getting Venture Capital- VC funding- is very unlikely if you’re a newbie entrepreneur; unless you’ve got a prototype or proven model. We all hear tales of a VC backed company getting bought by Google or going public in an IPO. While this does happen, your every day startup won’t generally get funding from a VC. Only 1 [...]
Raising startup capital is a perennial challenge for many entrepreneurs. Anything that can be done to help make this process easier is welcome news. It’s very likely- that soon- crowding funding platforms, which have become a popular way to raise small amounts of capital from friends and family, will be getting a boost from the government. [...]