Last week, I met Kylie Gusset, a yarntrepreneur who raised almost $40,000 in crowdfunding on Australian crowdfunding website Pozible.com to process a ton of Australian wool in Australia. Her motivation for the project is that processing wool in Australia is fast becoming a dying art, and wool needs to stay in Australia for creation from […]
How I single-handedly raised almost $40,000 in crowdfunding: Kylie Gusset & the Ton of Wool project
Why VC money may not be a good idea for funding your startup
Lots of people are playing the startup game these days. It goes like this: Come up with a really cool idea (preferably involving technology) Make a prototype and start a beta trial Try to find a VC or Angel investor to throw lots of money at you so you can continue to develop the product […]
Startup Tip 44: Don’t monetise too early
Don’t monetise too early? Isn’t business all about making money? Am I insane or what? Yes, yes and probably yes! 🙂 There’s one point of view that says when you start a business, you should always know how you are going to make money out of it. I agree with that and I also think there […]
Startup Tip 41: Don’t Mix Business with Pleasure – Financially, at least
This is a guest post by Andrew Dubinsky. Keep your personal and financial records separate. This goes right along with my first tip. Don’t use your personal account to pay for business expenses and vice versa. Get a business bank account as soon as you can. Most business bank accounts now offer debit cards so you can still […]
Startup Tip 40: How to make sure you always have money in the bank to feed yourself
How do you make sure you have money in the bank so you can eat and pay your rent while you build your startup? Learn to invest. Yes, that’s right, LEARN to invest. No simple tips or tricks, just a journey that will take you many years but is well worth embarking on. “Hang on […]
Startup Tip 39: Keep good company records – even when it’s just you!
This is a guest post by Andrew Dubinsky. Entrepreneurs typically fall into two groups: You’re either the sales-and-marketing-type or the brainy-investor-type. As the sales-and-marketing-type you excel at the creative side of business, (company records be damned.) The problem is, that from day one, you’ll be closely monitored and scrutinized by these (oftentimes quite boring) […]
Does every startup need an investor?
Does every startup need outside funding? Absolutely not. We can tend to get the idea from news reports and places like TechCrunch and Y Combinator that every startup has outside investor funding. But that is a misconception. There are many successful businesses that don’t have investors. In fact, if you can bootstrap and build your company without […]