An experienced senior executive and venture capitalist, John McKowen has coordinated early-stage funding for a number of startup companies that have gone public and appeared on stock market listings. Earlier in his career, John McKowen supplied startup capital to the oil and gas company BPZ Energy, which had a $1 billion valuation on the NYSE.
Typically, entrepreneurs seek funding from venture capitalists, accelerators, and angel investors for startups that are in their early stages. The following are some key areas in which early-stage funding can prove crucial:
1. Product development
In the early stages, companies are generally finalizing their products. Funding can help them to prepare for a product launch.
2. Creation of a team
Early-stage funding can prove crucial in enabling companies to hire the right employees. In particular, they may seek employees who share their brand’s vision, maintain a strong work ethic, and possess experience in working with customers.
3. Strategize Ways to Acquire Customers
Companies want to ensure that their products align with customers’ needs and expectations. Funding can support their efforts to gather market data. As a result, they will be able to better market their products.