Start a successful company
Research on what it takes to start a successful company reveals that enterprising Florida residents need more than mere ideas. Although startups are founded via various methods, such as incubation and investment searching, industry insiders say there are a few common steps that should precede applying to accelerators or outsourcing.
To secure funding, entrepreneurs must define their ideas clearly and concisely, do the research to identify a target market and prove the idea fulfills a need. This begins once one builds a development team and create a viable pitch.
Accelerators
Different startup platforms and accelerators provide unique returns. For instance, while Y Combinator, TechStars and other accelerators offer large investments in the $100,000 range or higher, they demand higher equity than firms that provide lesser amounts. Application processes also vary, with some accelerators accepting applications biannually and others taking applicants quarterly or even more frequently.
Accelerators select a small number of companies from the thousands of applicants they receive; these pools are then narrowed down via interviews and screenings until only a few startups remain. Entrepreneurs do not necessarily have to adhere to the potentially tedious accelerator process, however; people can also save up money, pursue alternate loan sources and keep things in the house to retain more control over the resultant startup.
The nature of a startup company impacts more than just the kind of funding opportunities its founders can access. Companies launched as specific kinds of corporations may have unique tax obligations or be subject to rules limiting when and how they can enact mergers and other agreements.
Business Law Attorney
Entrepreneurs often research business laws prior to actually implementing their ideas in order to minimize fiscal setbacks and anticipate potential legal roadblocks. A business law attorney might be able to assist throughout this process.