Finding cash sources to start a technical business
I find that technical entrepreneurs often fixate on one or two funding sources, often to the detriment of their business and personal objectives. In reality, there are at least ten sources of funding for startups that every entrepreneur should evaluate. Your funding strategy is a key part of every business plan, so don't hesitate to check out all the alternatives before you start.
The following is my prioritized larger list of the major sources, with some rules of thumb, which may save you a lot of time and energy:
Bootstrapping: Bootstrapping means using only your own resources. Self-funding is the preferred source of cash for your startup – if you can do it. The advantage is you don't need to spend time and effort in searching and preparing for the other alternatives, and you don't have to encumber yourself or give up control of your company. Just don't quit your day job before your new company starts producing revenue. Surprisingly, over...
