How To Raise Fundings For Your Startup?
Fig : Raise Funds for your Startup
To startup with a business, you need to come up with a great idea. Work hard to make it happen, nothing can stop you from doing it unless you don’t have capital to execute it. If you guys have come up with an idea all you need to see is how to raise funding for it? Well, I am going to share some avenues to raise fundings for your startup. Check out these astonishing techniques to get your funding faster.
Make A Plan
Do you have a business plan? That’s the first step towards starting your own business. But, do you have a plan to raise funds for it? Well, if not then you need make it as soon as possible. Make a list of potential investors, venture capital firms, angel investors, etc. Figure out which one will actually invest in your business idea. Do not just send or make random proposals to them. Investors will reject it unless you put it in front of them in an effective way. You should know a lot about the investors before approaching them, try to find a referral if you can. You should know what you are doing, whom you are approaching, and make a plan about how you are going to do it will save your time and chances of getting rejected. Last year a startup company called Aasaanjobs raised its funding which was led by Aspada Advisors ,IDG Ventures & Inventus Capital.
Get a Mentor
Most of you might be striving to raise funds for your organization for the first time. Beware, it is easy to get lost or go down the wrong road. It will just waste a lot of your time and energy. It is highly suggested to get a mentor for yourself. By this I mean you should get in touch with someone who has already started his/her business and raised funds for it. Taking a help of a mentor will help you to avoid mistakes and to see things which you could never have.
Ask for Less
Figure out how much money will you need to start your business. It can be more or less than a million. To raise your funds easily and faster you should ask for less money. It can be half a million or even lesser than that. Investors have some requirements for investing in private and startup companies. All they care about is ROI and they might reject your proposal, but if you ask for less than one million, those requirements are relaxed. It will widen your pool of investors and will make it easier to raise funds for your startup.
Assemble a Good Team
Starting up a business is a daunting task without any doubt. There would be a lot of complications, you should be a jack of all but master in only one or maximum two things. You cannot do each and everything by yourself, you will need the help of many people. Gather the best brains for each department and delegate tasks. The more people you have on board to help you, the faster and more efficient you’ll be at raising the money you need, said Dinesh Goel (CEO of Aasaanjobs).
Spread the Word
You need to spread the word to make your audience aware of your business, the service or product which you provide. The more people know about you, the faster you will be able to raise fundings you need. The best and the most effective way to promote your brand is to post on social media website like Facebook, Twitter, LinkedIn etc. In LinkedIn, you can find networks especially to gear up your plan of connecting your startup with venture capital firms.
Consider Crowdfunding
Rather than getting money from Venture Capitals, showcase your idea in front of the people you will be marketing your product or service. Crowdfunding is becoming an increasingly widespread method of raising funds. Crowdfunding will help you to avoid many rejections before getting one group who will be willing to fund your idea. You can raise money in installments from the people who are excited about your startup plan or idea.
With the help of these ideas, you will be able to raise funds faster for your startup. If you guys have some ideas to raise funds for a startup, feel free to share it with us in our comment box below.
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Make A Plan
Do you have a business plan? That’s the first step towards starting your own business. But, do you have a plan to raise funds for it? Well, if not then you need make it as soon as possible. Make a list of potential investors, venture capital firms, angel investors, etc. Figure out which one will actually invest in your business idea. Do not just send or make random proposals to them. Investors will reject it unless you put it in front of them in an effective way. You should know a lot about the investors before approaching them, try to find a referral if you can. You should know what you are doing, whom you are approaching, and make a plan about how you are going to do it will save your time and chances of getting rejected. Last year a startup company called Aasaanjobs raised its funding which was led by Aspada Advisors ,IDG Ventures & Inventus Capital.
Get a Mentor
Most of you might be striving to raise funds for your organization for the first time. Beware, it is easy to get lost or go down the wrong road. It will just waste a lot of your time and energy. It is highly suggested to get a mentor for yourself. By this I mean you should get in touch with someone who has already started his/her business and raised funds for it. Taking a help of a mentor will help you to avoid mistakes and to see things which you could never have.
Ask for Less
Figure out how much money will you need to start your business. It can be more or less than a million. To raise your funds easily and faster you should ask for less money. It can be half a million or even lesser than that. Investors have some requirements for investing in private and startup companies. All they care about is ROI and they might reject your proposal, but if you ask for less than one million, those requirements are relaxed. It will widen your pool of investors and will make it easier to raise funds for your startup.
Assemble a Good Team
Starting up a business is a daunting task without any doubt. There would be a lot of complications, you should be a jack of all but master in only one or maximum two things. You cannot do each and everything by yourself, you will need the help of many people. Gather the best brains for each department and delegate tasks. The more people you have on board to help you, the faster and more efficient you’ll be at raising the money you need, said Dinesh Goel (CEO of Aasaanjobs).
Spread the Word
You need to spread the word to make your audience aware of your business, the service or product which you provide. The more people know about you, the faster you will be able to raise fundings you need. The best and the most effective way to promote your brand is to post on social media website like Facebook, Twitter, LinkedIn etc. In LinkedIn, you can find networks especially to gear up your plan of connecting your startup with venture capital firms.
Consider Crowdfunding
Rather than getting money from Venture Capitals, showcase your idea in front of the people you will be marketing your product or service. Crowdfunding is becoming an increasingly widespread method of raising funds. Crowdfunding will help you to avoid many rejections before getting one group who will be willing to fund your idea. You can raise money in installments from the people who are excited about your startup plan or idea.
With the help of these ideas, you will be able to raise funds faster for your startup. If you guys have some ideas to raise funds for a startup, feel free to share it with us in our comment box below.
Related Post :
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