Financing a Startup is one of the most challenging aspects of starting a new business. When it comes down to it, you have to navigate venture capital firms, angel investors, and weigh the value of equity in losing control of your own company. Many new businesses fail because in the early stages of the business they did not have sufficient funds in the development stages. Others fail shortly after launch even though they have an amazing product, but ran out of funds to market the business and gain the critical mass needed to sustain operations. Hearing this is painful because there are simple solutions to getting startup financing and business credit to help turn your startup into an adult. We have 3 questions that we would recommend any Startup ask themselves before seeking funding from outside sources.

1) How much money do you really need to get your startup off the ground? No doubt he is shaking his head at the near absurdity of this question; however, you’d be surprised what you’ll discover about your business when you see how lean you can actually run the business in the beginning. Many businesses believe they need a great store, high-end furniture, and a full staff the day they open their doors. For most, this is a good 5-year goal, but in the beginning you can do what Apple did and start with an idea and a handful of talented employees. If you haven’t read Re-Work, it wouldn’t be a bad idea to check it out, as there are many principles that can save Startups some headache in the long run.

2) Are you willing to become an employee of your own company? This may also sound like a strange question, but when you decide to work with a venture capital firm, in many cases, you will be accountable to investors in ways you may not have originally anticipated. There are stories from Silicon Valley to Dubai that start with an enthusiastic entrepreneur and end with burnout. "employee owner" who is forced to take his startup in a new direction due to the influence of his investors. beware of contractors.

3) What will happen within the first 90 days of getting the financing you need. There are companies that have a minimum financing guarantee of $50,000 that guarantees that qualified companies can access the financing they need; however, it is incredibly important that you have a clear vision of what your priorities will be after receiving funding. It sounds so simple but many times companies finance themselves without a prioritized list of needs; and after getting more than enough funds, they find themselves without essential items that they should have purchased from day one.