Thanks Crew, I'm assuming there is a difference between accountants/firms in their appropriateness to small startups (software/tech or other).
I've created a table at http://www.startup-australia.org/starting with space for recommended accountants/firms for people to kindly contribute to if they get a chance. Happy for people/moderators to correct me if I'm wrong on this. It would be good if people can share their positive experiences with the crew on the wiki. There are hundreds of small questions in this area and I suppose everyone has a unique situation where professional advice is best. Silky - So it seems as a sole-trader you can direct cash through your company's account(s) or bypass it, it doesn't really matter, as long as good records are kept. In your position it seems unlikely you will bring in any external capital or partners, but in mine its a distinct possibility and valuation is inevitable. Hoops - Thanks for the advice. Budgets are good, agreed. My situation is setting up a business in parallel to revenue from other sources and so the business isn't going to be paying me, I'm just seeding it. Chris - Good thought, considering the future debt position of the company if you "loan" the money. But can you fund the company without a promissary note and have the injected capital contribute indirectly to the value in the business i.e. where that capital has gotten the company to at the point of valuation? Max - thanks. Duncan - Yes! Early profit is a definitely to be strived for, and in an ideal world you'd find the customer first and get income from solving their problem and then set up infrastructure around that. I can't imagine every business can do that though. Flickr, Facebook etc. Daniel - Nice work getting it off the ground in the way you did. Thanks again for your responses. Cheers, Pieter On 27/07/2009, at 11:51 PM, Daniel Purchas wrote: > Hey Pieter, > > one thing we did was to get 1 of our 3 founders to work on a > contract making income while the other 2 of us worked at getting our > key services producing revenue so it was sort of self funding > without saving up a large amount of capital to pour into the company > up front. > > this was a model a few of the other start ups that presented at > barcamp had used effectively to get their ventures off the ground > > On Mon, Jul 27, 2009 at 7:45 PM, Duncan Riley <[email protected]> > wrote: > > Pieter > yes. > > The biggest thing is to be profitable as soon as possible. You'll know > when depending on your starting sum and monthly burn. You absolutely > must plan the break point. Starting on a fixed sum is always limited > without luxury. I went very close this time, down to the last > $500...but I'm 6 mths past that. > > > > > -- > Dan Purchas > GradConnection > > 044 909 7781 > www.gradconnection.com.au > > > > > Pieter Peach [email protected] --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Silicon Beach Australia mailing list. Guidelines on discussion: http://tr.im/ujKF No lurkers! It is expected that you introduce yourself: http://tr.im/ujMm To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/silicon-beach-australia?hl=en?hl=en -~----------~----~----~----~------~----~------~--~---
