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What our members have to say...
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"What a ride it has been - we had just launched and were looking for 6 figures for our marketing budget. We met with quite a few investors that we just didn't click with, and then one that understood our business perfectly. Within a week it was all signed, and our marketing kicks off in a few days. We went to two VC houses over and above Investment Network, and they weren't able to find the funding we wanted, so this is just another thumbs up for this amazing network."
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Riccardo S - Dealio |
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Ways to fund your business
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If you are planning to start a new business then you will need some kind of money or capital to finance your business. Every aspect of business should be planned properly which increases the chances of success and also lead to a solid business strategy.
Here are some tips that can be helpful to fund a new business:
1. Prepare a solid business plan: Prepare a strong business plan if you are planning to borrow money from a lender, a bank or a friend. The business plan covers financials in which the entrepreneurs is required to prepare a pro forma cash flow and show all expenses, all the margins and revenues.
2. Starting business from home: You can begin your business for less money if you don't have to foot the bill for office space and utilities for an out-of-the-home office.
3. Get in touch with a local angel investor: If you need around 25-250 thousand dollars, you can get in touch with a local angel investor. But if you do not have a network which helps you connect to an angel investors, you could get in touch with a consultant.
4. Ask family and friends: Friends and family are good sources of funding for small businesses. Do not approach them unless you have a business plan and have done good research to know there is a market for what you want to sell. Be sure your plans provide a way to pay interest on the money borrowed from family and friends.
5. Build your own team: When you are planning out your business and trying to find out who you are going to involve there are some things you should keep in mind. Try and find out about your strengths and weaknesses. Once you notice the areas in which you are more weak then you can hire or partner with people who will make up for that weakness.
6. Venture Capitalists: This option is good for people with higher budget startups of over a million dollars. As far equity goes, funds coming in from a venture capital company are usually expensive. If you take this route, do not expect a quick solution. It may take about six months to organize it.
7. Credit Card: In today's market a lot of credit card companies are offering 0% financing. If you know that you can pay back the money quickly, this is a good way to borrow. This method should be used cautiously.
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