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How Much will you Need?

How much money do you need to fund your startup?  You don’t know the answer until you do some create a financial projection.

The question is: at each stage of your startup, how much funding will you need to get to the next stage, and how will you get that funding?  The “how will you get that funding” is discussed later in this section (How to Bootstrap, etc.).  But to answer the question “how much do  you need” you actually have to do some financial projections.

How much will you need in the Idea and Discovery stage?  In the Prototype stage?  How much to get ready for Beta test?  How much to roll out your product or service and start marketing and selling?   How much to fund growth?

This is a good topic to discuss with CEO and CFO mentors.  But at the end of the day, you’ll need some financial projections.  Check out education resources to help with that in section 2: “Get Educated”.