My startup has 3 co-founders, and we're looking to open our business banking account. We are not seeking loans/funding at this time. We just need a simple solution that will work well and allow us to integrate easily with online payment processing. We're recurring monthly subscription based.
I've found that the most important thing to do is get a relationship with a business banker. We use Wells Fargo, and maybe I just got lucky, but I managed to find a business banker who I connected with really well and he was able to coach me through everything. Also their phone support has been very good, so on the whole I can recommend Wells Fargo.
Getting the bank account actually set up is very easy, and the business banker will recommend the right plan for you based on your needs as a startup. It only took an hour or so to actually get the account set up, and that part was easy.
The hard part used to be getting a merchant account, and then finding a payment gateway, and then connecting that with a billing system etc, but now that problem has been solved thanks to Stripe. I recently launched a startup that had a full subscription system built upon Stripe and was able to take payments within just a couple of days thanks to Stripe's amazing portal, documentation, and the many open source libraries that connect you to their API.
I hope that helps.
You didn't mention where the founders are located or anything about what type of payment processor you might need, or if you were incorporated.
If you are not already incorporated I would checkout Incorporations.IO to compare different jurisdictions and see which might be best for you.
The two countries which lead the world in international banking (in my opinion, which is formed by having setup hundreds of companies for entrepreneurs, many of which have a remote team like yourself) are Hong Kong and Singapore.
Just because you have banking there does not necessarily mean you need to have formed a Hk ltd. Or SG Pte. Ltd. company. There are a lot of factors considered here and I only have limited information, but it may be worthwhile for you to checkout Hong Kong and Singapore as a banking hub for your global business operations.
I use Wells Fargo.
Bootstrap. Read "How To Get Rich" by Felix Dennis. Or better yet just remember the camel's nose in the tent story.
Listen, in any business you have to take some chances and some risks. Make sure you don't need a license and go for it. Remember, timid business people have skinny kids. Paraphrased from Zig Ziglar.
I am not trying to sell you on calling me. Really, I am pretty busy with my businesses and consulting. However, I need more info before I could have a greater impact in helping you.
Ask, Ask, Ask, then Ask again.
Here is $10,000 worth of information for free and in a nutshell.
Concentrate on the 3 M's. There are actually 7, but 3 will do for now. These are Market, Message, and Media. They come in that order.
Who is your target market (customer, clients, buyers, users, etc.)?
Tailor your laser focused message for this target market.
What is the best media mix to get your message to that market?
Here's what you do...first, make it an offer that is so incredible that they cannot resist. Secondly, do all the work for them. Make it so easy to make the purchase now that they can do it virtually without effort. Thirdly, give them an incentive to act right now. Fourthly, offer an almost unbelievable guarantee. Fifth, offer a bonus for acting now. There are many other incredible steps, but these steps should help the novice to the professional sell anything.
Whether you are selling B2B or B2C, you have to focus on selling to only one person. You can actually sell to one person at a time while selling to millions at a time. They are one and the same. Don't get off track, what we call digital marketing selling is just selling in print. And that has not changed since Cluade Hopkins wrote "Scientific Advertising." Really long before he wrote the book.
The secret to success: I have had the pleasure of knowing and working with some of the biggest names in business, celebrities, actors, entrepreneurs, business people, and companies from startup to billion dollar operations. The number one reason for their success is doing what they know and love while doing it in new, creative, and innovative ways.
Ask, Ask, Ask. Have thick skin and learn from each "mistake." In a short while, the market will tell you what you need to do and who and what you need to ask. But get started now even if that just means asking a contact on LinkedIn.
While you are thinking, think big and think of something at least 1% better, newer, or different. And being cheaper is not a winning strategy.
Make decisions quickly and change decisions slowly..unless you are actually going off a cliff.
Remember these two 11 letter words...persistence and consistency. They are two of the most important tools ever invented.
Treat everybody you talk to and everybody you meet (including yourself) like each is your number one million dollar customer.
Best of luck,
Take massive action and never give up.
Michael Irvin, MBA, RN