Launching a Tech Company: A Startup Guide for Entrepreneurs - Amber Busuttil Mullen, Partner at Bowen Tax Law

The TechEd Podcast

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Are you a budding entrepreneur with a great business idea? Have you always wanted to start a company in the tech space, but don't know where to start?
Get great advice on launching your own tech company as you listen to our conversation with Amber Busuttil Mullen, partner at Bowen Tax Law. Amber has spent her career helping executives in their businesses and knows that tech is everywhere! From cosmetics to fabrics, ice cream to athletics, there's an application for every technology idea.
So if you'd like to learn how to be a successful entrepreneur, listen to this episode to discover:

• What qualities make entrepreneurs successful in their business ventures
• How to build a product that people will buy
• The two things to do when first starting a company (creating an entity + opening a bank account) and how to do them
• Finding funding - from friends & family, angel investors, incubator programs and venture capital
• Understanding stock and stock options
• How to sell your company!

Get ready to take notes, because this episode is packed with actionable ideas!
3 Big Takeaways from this episode:

1. You CAN do it! Have the courage to get started and resilience to keep going: Believe it or not, you don't have to have the next "it" technology to start a company. With the right product and business plan, you CAN be a successful entrepreneur! Amber breaks down the first steps you need to take to make your business a reality into simple, actionable tasks you can get started on today.
2. There are tons of options to fund your startup - learn about the most popular options and what's right for you: You don't necessarily need to fund your startup alone. From friends & family, to teachers and mentors, angel investors, incubator programs and venture capital, there are a number of funding options you can choose from. Amber helps us understand each option in detail and will give you an idea of what the right path might be for your business.
3. Start with the end in mind - selling your company: If you've got a great business idea - your goal should be to start, scale and eventually sell that business. Learn about what you'll need to implement in your business at the beginning to make selling the business easier later on. You'll also learn about stock and stock options and how these can attract new team members, scale the business and enable you to sell when the time is right.

Resources mentioned in this episode:
Learn more about Bowen Tax Law: https://www.bowentaxlaw.com/

Connect with Amber
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View episode page: https://techedpodcast.com/amber/

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Chapters

1. Introduction to Entrepreneurship (00:00:00)

2. Compensation for Entrepreneurs (00:02:17)

3. Tech is Everywhere, Not Just Software! (00:05:00)

4. Traits of a Successful Entrepreneur (00:07:54)

5. Starting a Company & Legal Considerations (00:09:41)

6. Forming an LLC or Corporation (00:13:15)

7. $$$ - Options to Fund a Business (00:14:35)

8. Investor Agreements and SAFEs (00:24:05)

9. Scaling a Startup (00:26:25)

10. Stock Options and Compensation (00:28:30)

11. Goals and Exit Strategies (00:34:29)

12. Advice for Young Entrepreneurs (00:37:13)