This is going be a bullet FAQ on starting a business. No joke. If you’re a lawyer, feel free to disagree with me, so you can charge someone your BS fees to give the same advice. If you can think of anything to add, please do so. I might be missing things. If you want to argue with me, feel free. I might be wrong on any of the items below.

There are many types of business. Depending on your business, some of these won’t apply. All of these questions come from questions I’ve been asked.

The rules are: I’m going to give no explanations. Just listen to me.

1) C Corp or S Corp or LLC?

C-Corp if you ever want to take on investors or sell to another company.

2) What state should you incorporate in?

Delaware.

3) Should founders vest?

Yes, over a period of four years. On any change of control the vesting speeds up.

4) Should you go for venture capital money?

First build a product, then get a customer, then get friends-and-family money (or money from revenues which is cheapest of all) and then think about raising money. But only then. Don’t be an amateur.

5) Should you patent your idea?

Get customers first. Patent later. Don’t talk to lawyers until the last possible moment.

6) Should you require venture capitalists to sign NDAs?

No. Nobody is going to steal your idea.

7) How much equity should you give a partner?

Divide things up into these categories: manage the company; raise the money; had the idea; brings in the revenues; built the product (or performs the services). Divide up in equal portions.

Should you have a technical co-founder if you are not technical?

No. If you don’t already have a technical co-founder you can always outsource technology and not give up equity.

9) Should you barter equity for services?

No. You get what you pay for.

10) How do you market your app?

Friends and then word of mouth.

For more check http://ember365.com/e365/index.php/more/business/item/the-ultimate-cheat-sheet-for-starting-and-running-your-business

11) Should you build a product?

Maybe. But first see if, manually, your product works. Then think about providing it as a service. Then productize the commonly used services. Too many people do this in reverse and then fail.

12) How much dilution is too much dilution?

If someone wants to give you money, then take it. The old saying, 100 percent of nothing is worth less than 1 percent of something.

13) Do you listen to venture capitalist?

Yes, of course. They gave you money. But then don’t do anything they ask you to do.

14) What if nobody seems to be buying your product?

Then change to a service and do whatever anyone is willing to pay for using the skills you developed while making your product.

15) If a client wants you to hire their friend or they won’t give you the business (e.g. like a bribe) what should you do?

Always do the ethical thing: Hire the friend and get the client’s business.

16) What do you do when a customer rejects you in a B2B business?

Stay in touch once a month. Never be angry.

17) In a B2C business?

Release fast. Add new features every week.

18) How do you get new clients?

The best new clients are old clients. Always offer new services. Think every day of new services to offer old clients.

19) What’s the best thing to do for a new client?

Over-deliver for the first 100 days. Then you will never lose them.

20) What if your client asks you to do something not in your business plan?

Do it, or find someone who can do it, even if it’s a competitor.

For more check [url]http://ember365.com/e365/index.php/more/business/item/the-ultimate-cheat-sheet-for-starting-and-running-your-business[url]