5 Strategies On How To Raise Capital For Your Business.
Just so you know, in starting a business, financial capital is not top on the list of needs in as much as it poses a lot of necessity.
Most Start-ups tend to shiver at the sight of their budget, but as I keep telling my clients from my wall of experience, there is always money! Surprised? Enjoy your ride through this article.
Products and Services: Depending on your kind of product / service, this may work for you. Let’s take an instance, if your business idea is production and marketing of unisex shoes and foot wears. Get an online presence and commit to growing it, then go to already existing shoe outlets, take pictures of the shoes and advertise on your social media accounts. With great content, you’d make tons of sales. When you get orders, make purchase from those outlets and deliver to your customers. With this method, you’re doing two things; growing your customer base, online visibility and of course raising your capital.
Partners: There are two kinds of people in business, people with ideas but no money and people with money but no idea or time to invest in an idea. So if you fall into the category of brain box without money bag, you should get a partner who has what you lack; financial capital. When you find one, state your terms and draw your boundaries properly. Document all agreements and sign adequately with a third party presence probably a legal advisor.
Investors: This is similar to partners but somewhat different. An investor is a person that allocates capital with the expectation of a future financial return. An investor could have more than the financial capital required, he / she could have in addition to the money, connections and experience to add to the growth of your business. Watch the movie Shark tank.
Loan: Loans without interest are available to start-ups in different fields of business. Government give loans, non governmental organisations give as well likewise banks. You just have to do your homework well and pitch convincingly.
Platform: This is juxtaposed with people because there’s no platform without a people. You can create an online or offline platform to genera income for your business. Let’s assume you want to begin producing and marketing perfumes and other cosmetics. You can create a paid platform to teach people how to use the right perfume and cosmetics suitable for their skin type. This can be done strategically a couple of times, online or offline or both, till you generate the required amount needed to set your business on flight.
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