Say I want to raise 500K in a seed round, would I need to be able to say exactly for what it will be used down to the last dollar?
Or how is that typically calculated?
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You don't need to be precise to the dollar, not even to $1K. You want to have an Excel spreadsheet that shows expenses, salaries. All of them are approximate. As long as they are realistic, you'll be fine. Just don't expect to hire an engineer in Silicon Valley and pay them $30K/year. |
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