One thing we know about starting a business – the start-up expenses can feel never ending. Like most “roadblocks” however, this is not the truth. There IS a limit to your start-up fees – but don’t forget to include them ALL when your fundraising. One strategy for success is to keep your employee salaries to a minimum by hiring performance-based salespeople and offering stock in your company, where appropriate. This will help you to have employees who are tied to, and invested in, your company’s success.
Here’s a list of startup expenses. Be sure to calculate an initial investment of AT LEAST four months when you’re fundraising to give you some breathing room to get off the ground. (You can copy this list to an excel sheet to make your life super easy!)
To your continued success, Christine Comaford
Biz Accelerator and CEO of Mighty Ventures, Inc.
NY Times Best Selling Author
Estimating Your Start-up Investment
Rent / Mortgage
Advertising / Marketing / Social Networking Fees
Delivery and Warehousing
Income Taxes, Including Social Security
Legal and Accounting Fees
Equipment and Software
Furniture and Fixtures
Legal and Accounting Retainers
Cash on Hand