Before getting our first seed investment the investor requested to setup a company that holds the company shares, unfortunately the law in our Country wasn’t that supportive because we have a foreign investor.
The only solution was to setup an offshore company, here is another obstacle because I really didn’t understand the procedures so I went to lawyers that work with startups and can help with all the procedures to setup an offshore company, but their fees were very high (around 5000$+).
- We searched around and finally found this site https://www.bizfilings.com/, just follow easy steps and register your company in USA (State: Delaware , Business Type: C Corp).
- For offshore bank Account we used http://www.bmi.com.sc/, we contacted them via mail and requested some papers (passport, agreements, company registrations…) and Done!
- The whole process cost is 800$ wohoooooooooo 🙂
Hope this was helpful
A lot of entrepreneurs succeeded without mentors but it will cost extra time and wasted resources.
Good Mentors will change your business life for the better. All of those conversations and meetings with them will be valuable
I would like to share with you why personally I think Entrepreneurs need Mentors:
- They’ve “been there, done that” , learn from others about their mistakes and success.
- Mentor is direct yet supportive; Your mentor can be able to identify mistakes you’re making quickly and let you know in time to fix them and move forward.
- expand your social network ;Your mentor, being an experienced leader, businessperson or even an investor, is likely to have an extensive network that eventually he/she can introduce you to.
- Help you make decisions; they can give you valuable advice on certain topics that you have a lack of experience in.
Good mentors will be hard to track down, and their time is extremely limited , but I had a great group of mentors I met through our accelerator program and now we have a trusted, long-term relationship.
Sharing your idea with others will motivates you more to learn and understand and you will gain valuable insight and perspective.
With whom should you share your idea and how they might help:
1. Close friends and Family members that will help you see your idea from different angle and You’ll get suggestions for improvements.
2. Participate in events that aims to showcase entrepreneurs with great ideas, that will help you get exposure for your idea and get live reactions, and even connects you with someone that might help you turn your idea into reality.
Take action. Put ideas into practice.