Do you intend to launch a project for the first time? 10 important questions answered by the financial advisor

There is a growing number of young entrepreneurs who have many great ideas, passion, leadership and ambition to create their own businesses.

In his article in Forbes magazine, writer Richard Harush said he was very pleased to be a consultant to a number of young entrepreneurs.

These young people asked some important questions to Richard. Most of them were related to how to launch, grow and finance their businesses. Here are the author's answers to the questions asked.

1. What legal nature should I adopt in my own project?
The founders of the company should initially determine the legal nature of the company, whether a limited liability company, public partnership, individual ownership or business.

2. Where should I register my startup?
Companies are registered in accordance with the laws of the country, and it is best to register the company in your state or city, as this will save you fees, registrations and other complications.

3. How do I protect my project idea from theft?
There are countless ideas, but implementation is the most important. If your business idea is unique, be sure to apply for a patent because you may be protected by proprietary rights, trade secret laws, or non-disclosure agreements.

4- How should shares be divided between the founders of the company?
There is no clear answer to this question, so it is best to discuss this with your partners to avoid any misunderstandings later.

If you are the original founder and the owner of the idea, this gives you a good argument to get more than 50% of the ownership of the company.

But you should take into account some things when splitting stocks, including:

- The relative value of the founder's contributions.

- The amount of time you should commit to work.

- Cash compensation that you should receive for your work as an employee of the company.

- Will someone contribute money as an investment in business?

- The fact that the number of shareholders will decrease in the future when bringing in investors or when giving options to new employees.

5. Do I need a co-founder of my business?
Because technology is essential for your startup, it would be helpful if you have a technical co-founder, or at least a high-level employee who can accomplish key technological tasks.

6. How can I find an attractive name for my startup?
This task is likely to be difficult but:

- Brainstorm a variety of different names.

- Then do a search on the Google browser to find out the names that were used previously, and I bet that this step will make you exclude 95% of your choices.

- Make sure to be easy to pronounce, it is important to avoid that you choose a meaningless name so as not to confuse people about the nature of the activity that your company does.

- Use Google and Yahoo, search for the name of your startup, and then make sure you get the domain name.

7. How can I direct users to my site if I do some e-business?
Key ways to help you achieve your goal are to pay to Google, Peng, Yahoo, Facebook and other sites to send business sites, create a great site with premium content and high quality, and get a smart social media plan to increase traffic from social media sites. Social.

You should also prepare well-written articles and try to publish them on other quality sites, such as the Business or Media site, without forgetting to link to your site.

8. What are the biggest mistakes that startup owners make?
New entrepreneurs can make many mistakes.These common mistakes include not starting enough capital, not setting an accurate budget, not focusing on the quality of a product or service, not studying the market need, ignoring legal issues, and hiring inappropriate staff. Then expelling them quickly will affect the success of the work.

9. How can I raise funds to start a startup?
If you only have an idea and haven't made much progress in implementing it, you probably won't be able to get angel financing or seed funding from professional investors, so in this case you'll have to rely on family and friends, or you might consider crowdfunding sites.

10. Do I need to make promotional offers to get the attention of investors and venture capitalists?
Gathering capital from investors is not so easy and time-consuming, and professional investors expect to get a brief and interesting summary of the business before considering a meeting, which makes creating a promotion very important.

To make a good promotion, present your idea in 15 to 20 slides, explain why you are considered a huge market opportunity, and describe the talent in your team.

Be sure to avoid covering every detail of the promotion, as a personal offer will give you an opportunity to highlight key information and be sure to update your information and metrics.

It is important to focus on visual identity and take into account the idea of ​​getting help from design professionals.

Reviewing other promotions will help you get ideas on how to bid and pay attention to the necessary details such as inserting the following statement at the bottom right of the promotion cover page: "Confidential and Registered Property" or "All Rights Reserved."