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1、外文翻译FinancingYourCompanyMaterialSource:springer.lib.tsinghua.edu.cn/login.wanfangdata.com.cn/login.aspx?ReturnUrl=http%3a%2f%2fs.g.wanfangdata.com.cn%2fNSTLAdvancedSearch.aspxAuthor:RobertA.SOnceacompanyisformallyestablished,thenextstepisthatofraisingcapital–andcertainlyplen
2、tyofit.Raisingmoneyforastart-upcompanymaybethesinglemostarduous,andtime-consumingactivityundertakenduringone’scareer.Thedecisionsmaderegardingcompanyfinancingimpactitsfuturegrowthopportunities,soitisimportanttounderstandthemyriadofissuesinvolvedwithfinancingchoices.Properfin
3、ancialplanningisofsuchcriticalimportance.Inthischapter,wediscusshowmuchmoneyisneeded,howlongittakestofindit,andwheretogotoseekfunding.Ifacompanycarefullymanagestheirproduct’sdevelopmentandconsistentlymeetskeydevelopmentmilestonesinatimelymanner,theywillgreatlyimprovetheircha
4、ncesofsecuringthecapitalneeded.Beingproperlypreparedandlearningsomekeyaspectsaboutfundingwillmakethischallengingjobmorerewarding.Inthefollowingsection,Iwouldliketosharewithyouseveralnotionsthatareimportanttounderstandbeforeraisingcapital.Thetotalamountofmoneyacompanyneeds,de
5、pendsupontheproductandcompanybusinessmodel.Beforeraisingmoney,determinetheamountofmoneyneededforthespecificproduct,andestimatetheamountofmoneyneededtomovethroughtoeachproductdevelopmentstage.Whencalculatingtheneededcapital,besuretoincludeallexpensesinadditiontoproductdevelop
6、mentcosts,suchasmarketdevelopmentandcorporatedevelopmentcosts.Therearetwopitfallswhenprojectingfinancialrequirements.Thefirstoneisestimatingthatlessmoneyisrequiredthanreallyneeded.Thisisacommonproblemforfirst-timeentrepreneursbecausetheyarenotfamiliarwithdevelopmentcosts,ort
7、heobstaclesandtypesofdelaysthatincreasecosts.Agoodwaytoavoidunderestimation,istobasecostestimatesontheamountofactualcapitalsimilarcompaniesraisedduringeachstageoftheirdevelopment,andestimatethetotalmoniesrequiredtoreachcommercialization.Eachsourcehasdifferentinterests,differ
8、entlimitations,andeachsourcebringsadifferentvalueto4anorganization.Itisimpo
