15 Frequently Asked Questions About Starting a Business
Summary
Richard Harroch, a seasoned startup lawyer and venture capitalist, addresses 15 essential questions entrepreneurs often face when launching a business. He advises forming an S corporation or LLC to limit personal liability, unless issuing multiple stock classes necessitates a C corporation. Incorporating in your home state is typically more practical than choosing Delaware. Harroch emphasizes securing sufficient capital to sustain operations for 6–9 months without income. To attract venture capital, he recommends demonstrating strong market traction, revenue growth, and assembling a top-tier team. He also highlights common pitfalls, such as undercapitalization and neglecting sales and marketing, and underscores the importance of a concise business plan and a legally vetted company name.
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