In the very early-stages, your startup finance strategy may be pretty straightforward. You need to establish your accounting platform and systems, including accounts receivable and accounts payable. You are going to want to identify the best payroll and banking solution for your company. And you definitely want to give some thought to tax considerations.
Author Archive: David Ehrenberg
“How can I connect with investors?” is one of the most common questions I hear from early-stage entrepreneurs. “Connect” is a good word to use. If you’re looking for funding, you don’t just want to “meet” investors, shake their hands and give them your quick pitch. You want to “connect” with them, to really make a deeper connection.
If the point of a business is to make money, then obviously you want to be very careful when it comes to managing that money. Your bank is key in this matter. Choosing a banking solution is one of the most important decisions you need to make as a startup. Your bank is more than just a place to store your money; it’s a tool to help you to minimize your financial risks and to manage your cash flow.
Once you have a VC on the hook, you’ll want to negotiate the best deal in terms of valuation and deal terms. Once you’ve reached an agreement, you’re done…or not!
Far from the end, receiving funding is actually just the beginning of a whole new stage for you and for your company —a stage full of financial statements, board meetings with VCs and more. A lot is about to change…