What Type Of Funding
As startup company resources are limited. Those companies that are able to get enough resources and are able to get a profit from their product surely will be able to become successful companies. Since my company is a social media platform like Facebook and Instagram. I do not need an office since everything can be running from my house. For the first year. I will self-funding since I won’t be able to require spending too much money as the company user account increase. The need of investing will increase. I am calculating that 0 to 2 years, I will be able to get 100k to 300k of profit.
The second step will be asking family and friends to invest in my company since I will need money to host user account virtually. I will to invest in clouding computer since I would be able to expand the network exponential without spending thousands of dollars in servers. After two years of running my business, I will be hired 3 employees, and 2 interns to help me to grow the company. After 6 months of getting the found for family and friends.
After two and half of running my business will start looking for advance capital to be able to hire 5 more employees so I can deliver better versions of the application. I will bet for machine learning, deep learning, IA and Natural language processing to create the ultimate user experience. Goal will be to raise 15 to 20 million dollars in investments. But I will hired 2 or 3 lawyer who have extended experience closing deal. I believe having the right advice and someone experience determinate success from failing. Which risk are okay to take which ones are not.