Getting Investment for your Website
Part 1: Laying the legal and financial foundation
When viewing companies and websites to potentially invest in, investors are looking for a variety of different things. They want to see that your website or concept is thoroughly researched, protected and as close to market as possible. The more of the “legwork” you take care of before you bring on investors, the better. Not only will this demonstrate your ability to effectively plan and account for the many aspects of running a successful business, it can protect your intellectual capital, ideas and even discussions with investors themselves. The fact of the matter is: the more organized and legitimate your business is, the more it’s going to be taken seriously. So let’s break it down:
- Choose a business structure that is best for your current or planned situation and file within your desired state (http://www.irs.gov/businesses/small/article/0,,id=98359,00.html)
- Register your “Doing Business As” if required based on your business structure and state (http://www.business.gov/register/business-name/dba.html)
- Apply for an EIN (Employer Identification Number) (http://www.irs.gov/businesses/small/article/0,,id=98350,00.html)
- Apply for a city business license as necessary based on your location
- Apply for any other licenses needed based on your location (e.g. work from home permit)
- Register your name and logo for trademark protection (http://www.uspto.gov/trademarks/index.jsp)
- Register your domain name for at least five years (http://www.godaddy.com)
- Get a D&B D-U-N-S number to begin establishing business credit (http://smallbusiness.dnb.com/establish-your-business/12334338-1.html?cm_mmc=google-_-keyword-_-online-_-d-u-n-s&LID=13619855)
- Open a business checking account and credit card (choose your bank carefully based on their business products and services and with attention to their business financing if needed)
- Utilize QuickBooks and keep careful records (it’s imperative to carefully notate every expense and all important details on your business for the sake of future taxes, investment, valuation, etc.)
- Customize a Non-Disclosure Agreement (NDA) for discussions with investors, friends, vendors, etc…
Coming Next: Part 2: Planning & Forecasting
This is great. Thanks!
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