Three(3)Ways To Fund Your Business Idea
So you probably,
have an overwhelming viable business idea that keeps ricocheting in your head? You are a big fan of going with your guts, Better still you are just not satisfied with the superficial, as you are the type that actually wants to step up the plate and put on your big boss entrepreneurial panties on as soon as possible.
The realization of the stark truth that all these would be just castles in the air without some real cash brings to light the biggest question on the table, ‘How do you fund the business Idea?‘ Unfortunately, without mincing words, funding your small business idea can be the absolute hardest. Quite literally, your business your idea would not even see the break of dawn without some real Money (funds)! It’s therefore No wonder at all that some folks use it as an excuse to put off the idea of ever venturing into business.
Then again want your idea to be on over comer, want it to become a part of something way greater than yourself, beyond your wildest dreams to becoming one of those success stories in magazines and you’ve been proven over and over again that the sources of funds are not helping.
In order not to be going around in circles and circles, passing through the same territories and limitations when it comes to scouting for real funds, then this blog post is a must read. In lieu of all these, the paragraphs in this article below is about to unravel Three(3) pragmatic ways to fund that billion dollar idea gratefully.
Fund Yourself (Put Your Money Where Your Mouth Is) Way Of Funding :
Quite frankly, what other source of funding could be any better than this? Obviously none.
That’s Right! It’s all on you and up to you first!! This is to you, going leaps and bounds for your dreams, enduring all the sacrifices, putting in all the work, and not waiting for anyone to hand you funds for you to take your own innate idea of, off paper into reality. You are by far your best source of funding for whatever idea you’ve got on deck.
Common sense has it that no one else will invest in you if you don’t invest in yourself first. Instead of looking out for so and so, your own hard personal savings. Start first fueled by the passion to make it, you could tap from rich relatives, personal saving wallet,plough back profits, borrowings from friends, family, call it ‘bootstrapping‘ Bottom line the money should be yours!
If you do want your ideas to overcome the ‘all talks and no efforts narrative’, because more often than not, raising funds through this way can be daunting to say the least. Good news with this source when done right, no liabilities, no disgrace.
Lest you forget, you are your first and best source of fund and investment!!
Strategic Partnership, call it the Two Heads Is Better Than One Way Of Funding:
Your golden business idea could be a reality if you source funds from an able partner cum co-founder(s). More often than not, getting the right trustworthy partner(s) with complementary skills and passions could be grueling thus finding the right partner could be like hitting the jack pot!Coming with myriads of immediate and long term benefits.
With partnership at your finger tips, You‘d not just be accumulating funds but you’d be Pulling together brilliant ideas, human capital, resources, networks, more funds, contributions. All worthy enough to even cause that idea to someday make a dent in the universe.
It comes with an Avalanche of challenges but once you understand each other’s Achilles heels and all, it could be the next big thing. Evidently, It’s been proven over and over that partners have been able to stand the test of time. Of course you would have to draft something called ‘a partnership deed!!
With the right business partner, Know that you will never walk alone!!!
Business Incubators & Angel Investors (The Good Samaritan Way of Funding):
Call them the good Samaritans! Contrary to popular beliefs there are still some good people out there looking to just help your idea go from grass to grace just like that. It’s a good shot to employ angel investors and incubators and they are popular on university campuses, communities. shake hands with these incubator guys too to aid your business idea.
Startup incubator supports new ventures during the idea stage, providing access to the infrastructure and environment required for developing a with no offer of funding (and no expectation of equity in return), proven performance isn’t a prerequisite, with incubators collaborating with their participants for anywhere from a few months to several years.
It won’t hurt to try this source and you can still wear your CEO hat humbly and proudly!
For all the right reasons the thing of funding being the biggest impediment to start up businesses these days is gradually becoming outdated. That being said, Never believe the popular notion or rather excuse that ‘There’s no money’ , ‘There are no funds,You have just been shown where money is, thus ‘how to fish’. Don’t let that hold you back from accomplishing your dreams. With all the above ‘without a doubt cogent sources of funds’, more and more believing entrepreneurs are grappling such opportunities harnessing funds from the all the sources . Go for it and be pretty assured you could move mountains with your idea!
Anita Atayure, Zaabuni Digital Media.