How we Spent the First $50k at Cryptoshare Startup!
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I am not one for long articles so I will keep it pretty short and sweet!
This is how we spent our first $50,000 and hopefully this can provide a blueprint for other Startups that are new to the game!
Estimates:
-Reseach and Development 60% = $30,000
This includes actual research on competitors, customers, proprietary information, labor force, and business processes. The biggest parts of most budgets will be on this.
-Marketing 10% = $5000
This includes ads, graphics, pitch decks, logos, and pretty much anything related to Brand messaging.
-Travel Expenses 4% = $2000
This is a very important part of startups. Travel expenses is used to go to Conferences, International Networking Events, Networking, and to make Business Deals.
I recommend everyone in there industry go to a International conference at least once a year.
-Taxes and Fees 14% = $7000
We all know what taxes are and attorney fees. This is self explanatory. This includes in our case SEC and Broker/Dealer Fees.
-General Corporate Expenses 12% = $6000
This will include office space, computers, internet, website expenses, and all the things in between we do not give a second thought to.
Example:
CyberSecurity
Ink
Laptops
Subscriptions
Registered Agent Fees
Shipping Costs
and the list can keep going!!!
Join the Fun: www.Wefunder.com/Cryptoshare