You know the old phrase, “You can’t pull yourself up by the bootstraps if you don’t even have boots?” It’s totally applicable to startups. While startup mythology is full of young men people starting companies with just the pennies in their pockets, the reality is that starting up takes at least a few hundred dollars of capital. Usually between paying developers, designers, publicists, etc., it takes much more than that.
So how do you know how much your startup is realistically going to cost? You can sit down with a spreadsheet and think really hard about it, but if you want a closer estimate, QuickBooks has an excellent startup financial planner that will hold your hand through the whole process of mapping out the real cost of starting a business. It also shows you other companies in your field in order to give you an idea of how much revenue you can reasonably expect.
Check out the video below for more details about the financial planning tool from Intuit QuickBooks and, if you’re interested, click here to view it on their site.
