Big ideas don’t prosper on their own. If you want to build a startup that stands the test of time, you’ll need more than a smart idea and a solid work ethic: you will also need adequate funding. Whether you’re hoping to be the next YouTube or buy a food truck, this guide offers insider tips on financing that can help you get your startup up and running.
From our vantage point, when founders, as they currently are, begin sharing stories about how difficult it is to raise funds, change is in the air. This is why it wouldn’t surprise anyone if VC funding — along with the tech arena — shrank in the next 12 to 18 months.
In all honesty, valuations help with buzz and are actually more than just hype. Most startups are cash-poor, offering alternative compensation packages with stock options and other add-ons specifically targeted toward attracting talent. Using these nontraditional compensation tools requires a valuation, which can have a profound impact on startup tax status because the IRS heavily regulates that area.
A business plan isn’t just a tool for wooing investors. It’s also the roadmap for guiding you through the rugged terrain every new company must cross.
Every startup begins with a great idea. Ask the founders of a lot of young companies, and they’ll tell you theirs is the product that will change the industry and lead the market on its next logical leap forward. Sure, first-time entrepreneurs get excited when they realize their concepts have potential, but many of them quickly learn that promise alone can’t carry an idea to its apex.
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