Q. What does it take to get someone to invest in my company?
A. This question is one of the most frequently asked from entrepreneurs. It’s not just about finding investors, but convincing them to invest in you. Of course, you need a compelling business idea. That’s step one. The next step is equally critical, though. You must convince the investor that YOU are able to transform that compelling idea into a profitable or sustainable business. What you must do: speak the “language” of investors – be able to express your business model in numbers, words and pictures. Make sure you have covered all of the issues investors typically want to know. How to do this: while there are many approaches, we suggest you join ActSeed’s Entrepreneur Group where we guide you through all of these issues, and you can tackle the issues at your own pace and in the order you choose. Here’s a link to a 5-page overview of the issues investors want to know, with a link on how to join ActSeed’s Entrepreneur Group at the end of the document: http://bit.ly/PrepMatters_WP. You only get one chance to make a first impression with an investor; let ActSeed help you make the best first impression.
Q. How important is having a separate business account for accounting if your are a sole proprietorship and will it affect taxes at the end of the year?
A. We strongly suggest having a separate business and personal checking accounts, even if you are a sole proprietor ship. It will make it much easier for you and your accountant to separate your business expenses from your personal ones, and you want to make sure you are getting all the deductions available to you.
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