Time for your second round of financing. Are your financial statements in order?

Posted by GeorgeChidi under Raising Capital
From http://www.company.com 5251 days ago

Dianne Kennedy, business author and CPA discusses the importance of keeping up with financial statements to procure funding. Your product is moving, and it looks like your business is healthy. Is it? When it comes time to procure a second round of funding, can you prove that you're making money?

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Comments

Written by ShawnHessinger
5251 days ago

Great post on the importance of keeping track of where you are financially. One of the best arguments for the bootstrap approach, by the way, is that when you start with little or no money and grow using only cash flow, it's kind of tough to spend anything above what your business is making. It's true this kind of business model won't work with just any small business, especially capital intensive ones, but it's something to keep in mind when thinking about how much you really need for startup.

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