Thinking about starting a company? 63 resources to help new founders
Do you have a business idea and are thinking of starting a company? You’re not alone, the most recent Kauffman Foundation research found that 69.8% of businesses are started because of opportunity, whereas 30.2% are started out of necessity. Whether you started a business because of an opportunity or need, entrepreneurship can serve as a tool for wealth-building, creativity, and flexibility. The research also highlights that immigrants, Latinx, and Black founders are starting new businesses at an increased rate.
At Founder Forward, we recognize that Black, Latinx, and Indigenous founders face barriers during their business journey and we seek to advance equity and diversity in the U.S. entrepreneurship ecosystem by addressing opportunity gaps and institutional roadblocks that affect founders in overlooked regions and identity groups.
We have run 24 cohorts and distributed $862,668 to 150 founders who are creating social impact businesses that are strengthening their communities. Whether we are connecting founders to pro-bono advising or congressional offices or a business community, we are always interested in understanding the founder’s journey.
As a team, we reflected on the founder’s journey, particularly the founders who have gone through our programming. We identified four business areas that the majority of the founders struggled with while creating their first business. The majority of these founders struggled with finances, go-to-market strategy, legal support, and marketing. As a team, we compiled a list of 63 resources for founders who are starting their first business and need tools to help them take that leap.
Below you will find a collection of tools and resources for first-time business owners who are looking to start their journey as a corporation, LLC, or partnership. These resources cover lean canvases, networking, market share, pitch decks, financing, technical assistance, and more.
As you develop your business idea, create your first product or service, and start collecting revenue, consider:
Subscribing to Founder Forward’s free monthly brief to keep ahead of the trends that are shaping the future of early-stage founders in overlooked regions.
Applying to Founder Forward’s rolling application to receive expert advising and unrestricted business grant funding.
Finances
This one needs no introduction, but let’s dive in. Having a complete understanding of the financial health of your business will help you be more proactive and credible when it comes to seeking investment and other financial services. It's not always as simple as a balance sheet. If you, the founder, can forecast your runway and are well-organized you’ll increase your chances for success and scaling. Eighty-two percent of businesses fail due to cash flow problems, but have no fear! We’ve compiled some resources that can educate you on financial management and bring in the green!
Enter a Pitch Competition: Competitions that Focus on Funding Black and Minority-Led Startups!
Funding Platforms: Cash is Queen!
Financial Management: Don’t Stress, Get Organized!
Go-To-Market Strategy
A Go-To-Market Strategy is a step-by-step guide to launching a new product or service in an expanding market. Before launching as a new founder it is important to have a game plan from ideation to point of sale. Considering points like target audience, competition, supply and demand, and distribution channels. The resources below will help you consider what your go-to-market strategy will look like.
What is a Minimum Viable Product (MVP)?
Legal Support
Understanding the legal landscape is crucial for protecting yourself and your business. From intellectual property to complying with regulations, these resources will have you covered and answer any questions you may have about the legalese of a startup.
Legal Resources: Protect your business!
Marketing
The growth of your startup will depend on your marketing. Storytelling is the foundation of any great marketing launch or advertising campaign. Oftentimes as a new founder, you’re selling yourself, your potential, and your product or service all at once. The following resources will be your ladder, use them as stepping stones to launch your marketing strategy!
Branding/Marketing: Market yourself and your Business!
Read, Learn, and Stay Connected
Startup potpourri. The following resources cover a range of topics for the up-and-coming founder. From research to community, we got you covered.
Research, Learn, and Study Entrepreneurship
Entrepreneurial Communities: Who do I connect with?
Human Resources: Invest in WE!
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