First of all, this website has been greatly helpful to understand various things about startups. I am glad I found this website. I am starting a company (A web-based startup). I am pretty much new to funding. All I have right now with me is a solid business plan which I am really excited to execute and take it live. I have explained my concept to many (potential users) and all loved the idea and couldn't wait to see it live. I have very good experience in this niche (Social Networking). Right now, I am done with developing the concept and now want to get funded so that I can hire few employees and start the execution. Also I tried to get self-funded but the concept is vast and needs more money than that I have. So here are few question which I always think about and didn't find any answers. Hoping to get them here.
Can I get seed funding with just a solid business plan and little team (2) willing to hire once funded? I am looking for $300k.
How to valuate my startup and how much stake will I have to give away to the seed funding company?
If I get seed funded, how much salary can I expect as a sole founder of the startup? Is $25k per annum too much? I am planning to have less but some great employees and I don't mind giving them twice or thrice more as than my salary.
Really appreciate your answers. Thank you.