Startup Platform: TurboFunder by FundingSage
Preparing the due diligence package is no longer a separate, sequential item. Once the major items related to the startups stage of development are completed and documented, the due diligence package is ready for the investor.
TurboFunder is a startup platform upon which resides a comprehensive complex of information, resources and tools that was designed specifically to support the entrepreneur’s effort to create an investable startup. We recognize that no individual, group of individuals or company can possess the comprehensive breadth of knowledge, experience or expertise in the many entrepreneurial functions required to start, build and grow a successful company from scratch. As a result, our platform is agnostic in its approach to providing this complex set of information, resources and tools. We seek to find and share with the entrepreneur the best of each, currently available in the marketplace, regardless of origin or source.
In establishing and growing a startup, the entrepreneur faces the daunting need of having to complete literally dozens of processes and tasks to build the company and prepare it for funding. TurboFunder’s structure helps focus the entrepreneur on areas related to their current stage of startup development, providing the information and tools to successfully develop the startup into an investable company. Once completed, the daily processes and task outputs required of the entrepreneur are organized in a logically structured package enabling the entrepreneur to be fully prepared for the due diligence stage of the financing effort.
<see related: Concept Stage Startups: Investor Due Diligence List >
Output items from the entrepreneur’s daily efforts, whether related to the filing of Articles of Organization with the state, establishing an Employer Identification Number (EIN) with the IRS, conceptualizing the product or service, hiring the team and documenting employee agreements, establishing sales processes or developing company milestones can all be saved for future reference in a convenient organized structure. This structure not only provides ready access for the entrepreneur as they develop their startup, but enable the entrepreneur to be fully prepared to pursue funding from investors.
As the entrepreneur encounters a process to accomplish or a task to complete related to the development of their company, the platform serves as an available e-consultant to support their efforts. For instance, let’s assume that the entrepreneur is working to develop the startup’s “Go To Market” strategy. Specifically, let’s assume they are working on the processes around structuring their internet site in support of their potential sales funnel. Accessing the platform provides the entrepreneur with information related to the sales funnel beginning with a description. It then provides useful links on the subject including blog articles, SlideShare presentations and YouTube videos from a variety of sources in order to provide the entrepreneur a comprehensive understanding of sales funnels.
Once the entrepreneur is comfortable with the subject matter, they are provided tool options from various sources, including free templates in many cases which enable them to work through the process and document the output. The output can then be uploaded to TurboFunder’s cloud based filing system for future internal reference or for use in the funding and due diligence effort. The platform is elegant in that it creates the outputs required for funding and due diligence of an investable company simultaneously to the daily efforts to build the business. Preparing the due diligence package is no longer a separate, sequential item. Once the major items related to the startups stage of development are completed and documented, the due diligence package is ready for the investor.
The TurboFunder startup platform enables the entrepreneur to focus on the tasks required to establish, build and grow their concept into a viable, investable entity. It eliminates valuable wasted time by providing the entrepreneur the information, resources and tools they need at their fingertips. Finally, it provides a logically structured “investor ready” due diligence package, easing the efforts related to obtaining that sometimes elusive investment they require to take their company to the next level.
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