You have an idea, now what? As different as startups can be they all fundementally follow to same path.
- Idea - Planning should be broad and focused on the size of the potential opportunity. Is there a market? How large is it? Would people pay for it?
- Build - Turning the napkin drawing into a product or service requires expertise and some early funding. How to obtain the funding? How to find the expertise?
- Launch and Pivot - Gain feedback and change your offering based on that feedback. How do you gather data? When to re-invent and when to realize its just not there?
- Model - Once you have acceptance, make sure there is an economic justification. What competitive forces affect the sector? How do rivals operate and succeed or fail?
- Scale - You have a product, you have an economic model, now its time to roll. Do you have the resources - functional and financial?
Choosing the right entity upfront can save many headaches down the road. Understanding the operational, tax and structural benefits of different entities is crucial. We understand all of the entity choices and the unique needs of startups. Ask us about the specifics of:
- C Corporations
- S Corporations
- Limited Liability Companies (LLC's)
DGNA is dedicated to helping you start your small business as quickly and as easily as possible with our unique startup checklist.
Boards of advisors and directors help startups with experiences critical to success. DGNA can be a resource for your board.
DGNA can advise and design the formulas for your buy-sell agreement and make certain that your interests are protected as you grow and other events unfold.
Startups are high risk ventures due to their very nature, but there are strategies to reduce and manage risks that DGNA can help advise on and implement.
Startups have unique tax planning opportunities. Taking advantage of early operating losses, investments, research and development costs, and a number of other things helps improve cash flow. Let DGNA advise you on unique startup tax issues.