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I can’t tell you how many times entrepreneurs have come to me or my company in search of funding, underestimating the amount of money that they needed. It’s understandable. They think about the debt and the monthly payments they will be making — and it scares them.
But what should scare entrepreneurs more is being undercapitalized.
The reality is that determining the capital needs of a startup is a critical step in both launching and sustaining a successful venture. The amount of capital required varies based on several factors, including the industry, business model, growth objectives and operational expenses.
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