A Guide In Starting a Startup Business
After seeing the huge startup successes such as Facebook and amazon, many people are compelled today to take their own shot in starting a startup. It is very easy today since there are so many incubation camps and also so many other media and instrument to help you realize what you desire. But you need to make sure that you come prepared to the business since building the startup is not as easy as you think it is.
The startups term actually are old, but getting some more offshoot at the end of 2012 thanks to the crypto based startup that ravaging the internet. That is actually a good thing since it proves the easiness in building the startups, although their survival rate is very low and hence many of them are failed today. But that is just how the business will work in no matter sector you are in, as the business raises and fails in the certain period of time.
Fund Your Own Business
Funding is one of the most important think of your business, and sometimes, it does become the prerequisite of any business in the world, and hence you need to take funding seriously today. In order to obtain money, there are several ways you can do, and you can do multiple paths of them as there are no certain fixation on how to obtain money in starting your own business. Here are some of the methods in gaining the money for starting a startup.
This method actually means using your own money from savings or loans. This is one of the most used methods in raising funds for your business, and hence you need to save your own money just enough to build the basic infrastructure of the business. For instance, if you want to build a public transportation app such uber, then you need to have the rough shape of that app, and you need to use your own money to design your app.
- Venture capital
This is the part where everyone are familiar, but unfortunately, in order to compel the prospective investors, you need to already have the basic form of your business such as the app, the site or the products. It is a bad idea to come over to the board of investors and plead the money from them, but you didn’t bring anything of value. This is why you need your own capital to proceed, and after that, you can go to the venture.
- Fundraising or crowdfunding
This is one of the most used methods, and so popular that it is raising concerns in the US since there are so many new businesses popping out of nowhere and disrupting the huge and old players. There is no repercussion or entanglement when you want to acquire the money from the site, and hence you can use this methods.
Maintain Your Money
Once you have raised enough money, then you need to maintain your money, so that it can be used properly. You also need to report your expense and income to the shareholders since they are the one who backed up your business when starting a startup.