FAQ's :

Ask anybody who has made it to the top and most of them would agree that it would have helped to have somebody who you can call upon when in doubt. Today, in India, women entrepreneurs lack a space where they can ask a question and get an expert view. Peer to peer women business networks do not exist and this only makes it more difficult for budding entrepreneurs. Through Empoweress, we are looking at changing this situation. Women Entrepreneurs can key in their questions and Empoweress will answer them. Moreover most of the responses are stored as FAQs and hence acts as a ready reference. If you have specific questions, you can reach out to us via the form on the right, or get in touch via social media.

As much as you can reasonably afford, and in an amount to at least carry you for 6-9 months with no income. What you will find is that it always takes you longer to get revenues, and that you will experience more expenses than you anticipated.

Extremely unlikely. Get a product done, gain some traction, get a good management team, and then consider getting venture financing.

Any of the following:

  • Get a ton of traction in the marketplace
  • Have meaningful growing revenues
  • Have a world-class management team
  • Have truly innovative technology with a big market opportunity
  • Get a personal introduction to one of the VC firm partners from a respected colleague

A business that

  • You are passionate about
  • Doesn’t take a kazillion dollars to fund
  • Has the potential to grow into something big in a reasonable time frame
  • You have some experience in (avoiding the problem of “you don’t know what you don’t know”)
  • You would enjoy doing (don’t build a business that you will dread going to everyday)
  • One that can cause meaningful improvement in users’ lives
  • Not starting with enough capital
  • Thinking that success will come quickly
  • Not carefully budgeting
  • Not focusing on the quality of the product or service
  • Underestimating the importance of sales and marketing
  • Not adapting or iterating quickly enough
  • Not understanding the competitive landscape
  • Ignoring legal and contract matters
  • Hiring the wrong employees
  • Mispricing the product or service

It’s useful to come up with a business plan to think through what you want to do for the development of the product or service, marketing, financial projections and more. Then get input from trusted business/finance advisors. But don’t go overboard with a 50-page business plan. In reality many start-ups have to deviate from their plan.

  • Personal funds
  • Friends and family
  • Angel investors
  • Crowdsourcing sites such as Indiegogo.com and Kickstarter.com
  • Bank loans
  • Venture capitalists
  • Financial Statements (P&L, Balance Sheet, Cash Flow)
  • Employee records
  • Board and stockholder minutes and consents
  • Stock and options ledger
  • Tax filings and records (Federal, state & local income, sales and property taxes)
  • Secretary of State filings (Certificate of Incorporation, annual filings, etc.)
  • Invoices & contracts
  • Bank accounts
  • Creditor records

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