Let’s say you went $100,000 in debt starting a business, and it costs $5000 to operate every month and you make only $4000 every month for the first year.
But you have a house and family, etc.
Where is the money going/ coming from??
In: Economics
Every situation is different. There’s no set formula for starting a business and managing the money you initially put in it.
I once worked with a startup founder who was a former Google employee. The way he made it work was that every dollar of his initial seed funding went to the company. For his personal needs, he would sell Google stock as needed.
Prior to the pandemic, I, too, founded a company. The way I managed it was that every little extra money I had went to satisfy the needs of the company. For myself, I would continue working in my other ventures.
Basically, any seed money or investment went to the company 100% in addition to what I was also putting in.
Basically, I multitasked between projects to keep both myself and the company sustainable.
Right now, that’s what I’m doing again. I’m working on two new startups while still doing freelance projects, plus legal work.
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