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Now that you have a startup and you had to fund it, what is next in funding and why could there be funding needs.
No matter how great your business idea is, one of the elements of a startup is your ability to obtain sufficient funding for starting and growing the business. Now you may have funded or financed your startup with your own capital or by borrowed monies from family and friends as many small startup businesses do, but there are other options available.
First thing is to evaluate your business at this point and get clarity. I believe that is of utmost importance. If your business is not generating enough profits and you are believing that growth is going to bring that then re-evaluate your idea.
If you have a great idea that can expand your business then re-look at your business plans and your goals and adjust them accordingly.
Make decisions that make sense both in your head and on paper.
Do you believe enough in your idea to take out a second mortgage on your home? Sell your car? Live on basic food for a year or two years make it possible? Do you have that burning desire and the idea that has been vetted out.
What You Need to Do
Tips to Manage Startup Finances
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Written by Raj Kapur
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