by Mindomo Team 1 year ago
497884
How To Create a Startup Company
by Mindomo Team 1 year ago
497884
More like this
less risk for customer abandonment when a key salesperson departs
CEO and leadership team spread their know how
"You're not going to grow until you let go."
uncomfortable for most
no dependency on a few key people
important relationships
protected intellectual property
your brand is not always in front of the customers
partners become competitors
Materiality
Margin
What are the areas in which you have profitability?
Momentum
To what extent are your sales growing, how much traction are you getting, what is the market's response?
achievement
new products/services take up all cash flow
avoid major mistakes
save money and time
real people
feedback
personal email branding
LinkedIn profile that ranks in the top for your industry
reliable solution for shared presentations, applications, document sharing and desktop sharing
web hosting with unlimited bandwidth and data transfer
tool that lets you schedule and publish content across multiple platforms.
Equity financiers who get their name because they come from within the industry you are targeting and find what you’re selling to be “strategic” for their business objectives (such as somehow complementing or enabling the products or services they sell).
can prohibit you from selling to their competitors
dependency can be risky
can force you to recalibrate your entire business to serve them
money can come with access to benefits like manufacturing, distribution, and marketing
enhance your credibility in the industry
Funding pros are serious players in the investing world who look to get their money and profits out as quickly as possible.
must be prepared to share control
must be interested in selling the business or going public within three to five years
must be a “fast growth” startup business
have more money if you need more to grow
Private or “institutional” investors in exchange for an equity ownership stake.
Private investors who have earned their name “angels” by typically being friendly and patient about their investments and by providing their business wisdom and valuable relationships along with their money. They often like to invest in groups, each taking a piece of the deal. Comfort zone: $25,000 to $1 million.
hard to manage the divergent interests of a large group of angels
often difficult to find
relatively patient about their investments
invest smarts and networking in addition to money
Business has risks, and preserving your relationships with friends and family is at least as important as your business opportunities.
Comfort zone: generally less than $50,000.
money loss might ruin relationships
limited one-time source of funding
available quickly
fewest contractual strings attached
convenient
There are also numerous state, regional and minority grant opportunities available.
use of funds is strictly defined
highly competitive
investors love the “leverage” that grants provide
free money
Banks can provide you with a loan or line of credit that comes with a repayment schedule and an interest rate.
may require personal collateral such as home
limited networking
must pay interest
available to companies that can’t get equity funding
keep equity
