You’ve received a lot of great insight here about hidden costs.
I wanted to elaborate a bit about legal costs. I actually don’t see legal costs as a hidden fee so much as I see them as underestimated investment. So many startups assume that legal costs are unnecessary and even frivolous—trust me, this is a mistake.
If you do a quick search on Quora right now, you’ll see right away that there are a ton of DIY questions about how a startup can craft their own contracts, file for intellectual property, etc.
I can’t say enough that I completely understand the temptation to save money. It’s incredibly important to be frugal in the early days of startup. However, setting your business up for success for the long haul is worth the investment every single time.
The cost for a solid startup attorney is worth it. They can help with things like:
- Business formation
- Understanding different investment options
Plus, much more!
It’s worth the initial investment to help avoid costly legal issues later on.
If you need help finding a great startup attorney, check outWe can connect you with a seasoned attorney that can help you out. We offer affordable flat-rates so you can remain frugal! Hope to hear from you soon.