If you only get one chance to make a first impression when it comes to financing your business, you want to be at the top of your game and surround yourself with the best teammates to complement your skill set — especially the professionals you need for a startup venture.
Not all accountants are created equal. Some are low cost and great for bookkeeping; others are authorities on taxation and GAAP (Generally Accepted Accounting Practices). When it comes to financing issues, you need a strategic thinker and a problem solver on your side. Your choice need not be an expert on all the latest financing options, but she should know how to find out about them and evaluate which are best for you.
Likewise, the right attorney can help you find equity financing and ensure you are legally compliant, which is particularly important with investment crowdfunding.
Follow Your Own Road
As an entrepreneur, you’ve spotted an unspoken need in the marketplace and embarked to fill the void. That vision and determination have put you on a path that — regardless of the outcome — is likely to change the course of your life. And while others have walked similar paths before you, yours is as unique as your business idea itself.
Following your personal path takes guts, smarts, passion, a willingness to step out of your own comfort zone and courage to do so. As you draw upon these internal qualities, remember you needn’t venture down your path alone.
Success Is a Journey
As this e-book has explained, broad steps are already in place to help women entrepreneurs sidestep some of the startup perils — notably, underfunding their new ventures. To review, these steps include:
- Identifying how big and how fast you want your company to grow
- Understanding why you need money and your financing options
- Choosing the appropriate financing channels based on needs that may change over time
- Creating a diverse, dynamic power network to guide you and open doors
- Finding role models, mentors and others to support you through the ups and downs
- Building the right professional team to help carry out your plan
- Getting business training designed exclusively for women entrepreneurs
- Pursuing certification as a means to unlock the most lucrative customers and prospects
Like any journey into uncharted terrain, you never really know where your business idea will ultimately take you. Raising outside financing doesn’t guarantee success, but meticulous preparation and a sustaining support network can certainly improve your odds. Ask questions. Get answers. Take rational risks. Believe in yourself. Most of all, enjoy what promises to be a thrilling and memorable ride.