Ready To Start-Up?

Have a cracking good business idea, but fear you don’t have a ‘head for numbers’? Anindita Ghosh draws up a road map to get you started.

- Anindita Ghosh

Many of us nurture the dream of starting our own venture someday. Most of us never actually go ahead and do it because we are hamstrung by money issues. From arranging the funds for initial investment to making the best use of it, everything seems a bit daunting. However, entrepreneurs and financial experts say that it isn’t as difficult as it seems. A bit of foresight and sound financial planning are all you need before launching your own venture.

According to Parull Mahajan, director and founder, House of Design, “A financial roadmap is the backbone of any business as everything from setting up to running it smoothly requires money. It helps ascertain the scale of the business and plan for funds whenever a shortfall is foreseen. It also helps determine what type of financing would be more appropriate. Even investors or lenders want to see the financial road map before deciding to come on board.”

Here are a few questions to ask yourself when you are sitting down to sketch your own financial road map to secure your future.

‘HOW MUCH MONEY WILL I NEED?’