You have a brilliant startup idea and you are damn sure that it is the next big idea that is going to change the world. You have even started working on it but then met the most common issue that every startup faces – Funds. Who is going to put in the money for the idea that popped in your head? How to actually raise your startup funds?
Here are some suggestions that can help you to raise your startup funds.
- Check out your own resources: this is the most obvious and important thing to do. Look into your pocket. How much can you invest in your own startup? Don’t say what if it doesn’t work. If you don’t believe in your idea to put your own money into it, don’t expect anyone else to become the victim of your plans. If you do believe in your idea, check out your savings account, retirement account, equity in real estate, vehicles etc and see how much you can take out and invest.
- Ask for help from friends and family: These are the people who would be with you in the beginning and can also be useful resources to raise your startup funds. But make sure you write down an agreement and get it signed to avoid any sourness in your relationships in future.
- Business Partners: Having a business partner who shares the same vision as you can not only help you raise your startup funds but also aid you in the overall procedure of building and running a startup. If you haven’t thought of having a business partner, think of it now. Don’t be greedy. If your startup gets successful, you would have enough share and it is better than not doing anything at all.
- Look for government funds: there are huge funds available with the governmental organizations to promote entrepreneurships and small business in the country. All you need to do is look out for them, try to tap them and maybe you will get your startup funded. Try it!
- Look for investor: Once all four of the above mentioned ways fail, you have to look for this. Find an investor. There are many people who are willing to invest in great visions. Find! Find ! Find!
Start working on these suggestions now. You’re running out of time. We have more startup tips over here. Check them out!