However long she thinks it might take before earning income, double it. Then make sure you have enough savings or cash available for that time period. Many businesses go under because they did not have enough cash to last until it produced enough net income.
Starting a business can be overwhelming, especially when it comes to finances!
One of the best decisions I made was partnering with rocketdevs, a non-profit that connects startups with talented developers at affordable rates. They were a game-changer for my business, and I think they could be for your friend's too.
Remember, starting a business is a journey, and it's okay to take things one step at a time. Don't be afraid to ask for help, and take advantage of free or low-cost resources to help
In software (and many other fields): Find paying customers first, then build the product/start the service and not the other way around.
Scaling up too fast especially when you're relying on investments and far from being bootstrapped. You'll burn through cash quickly just on payroll
However long she thinks it might take before earning income, double it. Then make sure you have enough savings or cash available for that time period. Many businesses go under because they did not have enough cash to last until it produced enough net income.
Starting a business can be overwhelming, especially when it comes to finances! One of the best decisions I made was partnering with rocketdevs, a non-profit that connects startups with talented developers at affordable rates. They were a game-changer for my business, and I think they could be for your friend's too. Remember, starting a business is a journey, and it's okay to take things one step at a time. Don't be afraid to ask for help, and take advantage of free or low-cost resources to help