You’re dreaming of the success of your startup business. I mean actually dreaming. In your dream a smiling investor hands you a silver suitcase, and when you open it, it’s stuffed with dollar bills. You realize that everything you’ve hoped for your enterprise can now come true. You’re fully capitalized, you’re ready to rock.
And then you wake up.
The suitcase full of money was just a dream, and you start another day facing the prospect of keeping the team going, struggling to get your product perfected, and wondering how and when the huge promise of your business will be recognized and rewarded.
Is that a scenario you know? For very many startup entrepreneurs, it will be familiar territory. You’ve had the great idea, gathered a capable team, and already travelled a long way together. But now you need to take the next giant step, where the idea becomes real. To do that you need money – a lot more money than you can hope to scrape together...
Money makes the world go round and without doubt it’s a prerequisite of all business startups. What are the initial models which will help get a business up and running?
Silly question right? Of course you want to raise some money. Money is the oxygen which will help your new enterprise live. Lack of money will stop your enterprise in its tracks, even before it has started rolling. So thinking about money from the get-go should be at the very forefront of all new startup planning. Here’s the surprise: it generally isn’t.
When you believe that your new gizmo will change the world, it’s sometimes hard to believe that the world maybe doesn’t want to change, or even worse, that no-one thinks your brilliant invention will be of very much use. It then comes as a shock to discover that while the planning for the product launch is going rather well, thank you, there are bills and wages to be paid, and a ton of costs coming down the line. Money is needed, but...
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