It hurts a lot to give up a long-held dream or business plan just because you don’t have enough money. Even though it would be unfavorable for you to be in such a situation, the likelihood of it occurring to a wantrepreneur is extremely high.
Since no one can predict your startup’s future based on its business plan, finding investors for it is difficult. Although fundraising will begin before that, your work will speak for itself!
Because they must put their money at risk for something that has 50/50 chances in this competitive market, potential investors will not act immediately or accept what they read in its entirety.
“Investors are torn between two types of anxiety: 1. Fear of investing in unsuccessful startups and 2. Fear of missing out on successful startups Paul Graham, founder of Y Combinator, acknowledges that, regrettably, raising funds is the primary obstacle for startups. Even though the government has changed its policies and given startups full support through their new Startup India project, many will still be left out with a solid idea and no money. Here are some creative ways to get money without giving up on your dream.
Bank Loan
If the government policy designed solely to provide startup funding was unsuccessful, then getting a bank loan is also unlikely. The next concern, even if you can manage the bank funds, would be how to pay the installments with limited cash flow. Because you’re still a startup, it’s possible that you’ll need some time to pay your bills and get paid. You would find it difficult to repay your loan in monthly installments if you had a lot of tasks that needed funding. Therefore, only take out a bank loan if nothing else seems to work.
Crowdfunding
If you’re willing to share some rewards later, this is a great option. You can also raise money through donations, but you’ll need a lot of connections to do that. For this kind of funding, use your website, connections on social media, and any other means you think are appropriate. Crowdfunding projects that are based on equity or a reward will soon be accepted.
Look for assistance from family and friends
This is similar to crowdfunding, but you will only have a limited number of contacts. The trust factor will also work because they would understand your concept more quickly. While you might not always receive sufficient funds, they might assist you in other ways.
Competitions for startups
There aren’t many, but you can look for startup business competitions. Make your business plan and idea ready. Present it effectively and wait to be chosen. Funds would be your reward money if it occurred.
Your dream of starting your own business is priceless; never give up on it because you don’t have enough money; everything else can be managed, but it’s hard to get the fire back to work.
AUTHOR DETAILS:
| bhuvanakarthik87@gmail.com | |
| First Name | Bhuvaneswari |
| Middle Name | – |
| Last Name | Karthikeyan |
| Phone | 7418481147 |
| Street | No.48,kallikuppam village,boochiathipedu post, via redhills |
| City | chennai |
| Country | India |
| Occupation | government job |
| Material | single |
| Gender | female |
| Birthdate | 25jul1987 |
| Nationality | india |
| Children | no |
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